External influences. External influences on business Businesses are influenced by a range of factors over which they have little control – these are called.

Slides:

Advertisements

Similar presentations

SIB-429 D: Strategic Management Russell Seidle Wednesday February 4 th, 2015 Looking Outside the Firm: The External Environment.

Advertisements

Strategize Your Organization’s Future: Perform a Killer Pest Analysis Danette Shepard, MPA D.R. Shepard Consulting and Services, LLC.

1 COMP5331: Web Pub and Web Ad 8. External Analysis Dickson K.W. Chiu PhD, SMIEEE.

Learning Unit 4 Part 1 The Macro Environment. Learning unit Outcomes 4 reasons why managers need to understand the macro environment. Sub-environments.

The Marketing Environment and Competitor Analysis

Environmental Analysis

PESTEL Claire Devlin.

The Context of Marketing

TRANSFORMING CAPABILITY SUPPORT MATERIALS LEADING VISION CREATION PESTLE Introduction PESTLE is an analytical framework which can be used to evaluate the.

Managing Change Change in business is concerned with altering the way people do their work. It involves changing structures and introducing new technology.

1.5 External Environment STEEPLE Analysis.

Chapter 14 Marketing environments and ethics. Learning objectives 1Discuss the external environment of marketing, and explain how it affects an organisation.

Environments of LSOs. Environments is the term used to describe the context in which business is carried out. There are two main environments: Internal:

International Business Environment

IB Business and Management

PEST ANALYSIS These factors affect a business and are beyond the control of the business P olitical E conomic S ocial T echnological.

Strategic Management Business Environment Scanning General.

Strategic Planning Workshop 2 Environmental Scan Stakeholder Engagement SWOT Analysis.

MARKETING ENVIRONMENT. THE MARKETING ENVIRONMENT The Marketing Environment can be defined all the Internal and External Factors and Forces that affect.

Learning Outcomes Define the broad categories of factors that affect the marketing environment Explain the distinction between the microenvironment and.

Chapter 2 – Environments of Business Key Knowledge Students will learn the following about large-scale organisations: – internal and external (macro and.

The business environment

Chapter 2 The marketing environment Learning objectives 1.Discuss the external environment of marketing and explain how it affects an organisation 2.Describe.

Definition : An analysis and evaluation process that businesses use to understand their current environment.

Assessing the Marketing Environment. The MACRO Environment Identifies and measures the non-controllable elements of the environment that organisation.

Planning Planning is the establishment of objectives, evaluation and selection of policies, strategies tactics and action required to achieve them. A Forecast.

Principles of Marketing MKT 333 Chapter 4 Evaluating Opportunities in the Changing Marketing Environment.

PESTLE analysis. Aims Prepare a PESTLE analysis for a given situation and use it to analyse the impact of the external environment on a firm. Evaluate.

Std Grade BM - Unit 3.5 (CB)1 Standard grade Business Management Unit 3.5/4.1 THE CHALLENGES FACING BUSINESSES.

Chapter 1 introduction by Dr.Raafat Youssef Shehata.

Chapter 3 – Business Environments Three levels of the Organisational Environment All businesses, whether small, medium or large, must operate in a complex.

PEST Analysis & Porter’s Five Forces Model. PEST ANALYSIS The general environment of an organizations consists of the external conditions that set the.

ENVIRONMENTAL SCANNING. Tools in the Planning Cycle Environmental Scan Internal Factors (Value Chain Analysis) External Factors (PESTEL) SWOT Analysis.

This section examines the relationships between organisations and their external environment. Candidates should understand the opportunities and threats.

Unit 1.5 The external Environment PEST analysis (and other variants)

PESTLE ANALYSIS. WHY IS IT USEFUL? HSC Syllabus outcomes: H2Evaluates management strategies in response to changes in internal and external influences.

ACCA F1 – Accountant in Business Lecture 4&5 Dr. Randolph Metz-Johnson

This section examines the relationships between organisations and their external environment. Candidates should understand the opportunities and threats.

Level 2 Business Studies AS90844 Demonstrate understanding of the external operations of a large business.

Business Ethics. O Principles, values and standards that guide behavior in the world of business O Moral code – what is ‘right’ and what is ‘wrong’? O.

Analysis of the External Environment and Competition

Internal Operating Macro  For any business to succeed, it must be able to respond quickly to changes or pressures that come from it internal, operating.

EXTERNAL INFLUENCES These are factors that the business can not control (External constraints) PESTEL Analysis is a part of the external analysis that.

SLEPT Analysis Use in conjunction with the Intellectual Property Office Summary Study THE TIMES 100.

1.5 External Environment 1.6 Organizational Planning Tools PEST(LE) SWOT Boston Matrix Ansoff Matrix Porter Five Forces.

THE STRATEGIC MARKETING PROCESS

THE BUSINESS ENVIRONMENT

External Influences: PESTLE Analysis

What is PEST Analysis? There are a variety of factors external to your organization that can affect the organization’s results The purpose of PEST analysis.

Finishing Porter’s 5 Forces and Impact of External Influences

Labor Market information and Trends

Marketing Environment

External influences.

Principles of Management Learning Session # 12 Dr. A. Rashid Kausar.

Impact and Consequences

The External Environment

The Marketing Environment and Competitor Analysis

Unit 1.5 – External Environment

Situation Analysis in Tourism

External Influences on Business

PESTEL Markedsanalyse.

Handout 11: Understanding the organisational environment

MACRO ENVIRONMENT.

Situation Analysis Framework (5 Cs)

Prof. Arjun B. Bhagwat Department of Commerce,

Introduction to Business Lecture 02

Business Environment- Anu Veerendra Assistant Environment

Unit 1.5 External Influence

AS90844: EXternal pressures on A Large Business

Presentation transcript:

External influences

External influences on business Businesses are influenced by a range of factors over which they have little control – these are called external influences

STEEPLE analysis STEEPLE analysis is a tool for helping businesses evaluate external influences: S ocio-cultural factors T echnological factors E conomic factors E nvironmental factors P olitical factors L egal factors E thical factors

Application of STEEPLE Comprehensive Used when choosing projects to advance Helps judge the degree of fit between…  a project,  the external environment, and  the aims and objectives of the business Complements SWOT analysis

Socio-cultural factors Socio-cultural influences include factors relating to both workers and consumers such as: Demographics Changing trends and tastes Changing working patterns Culture (ethnicity, language, class, customs and habits)

Technological factors New technologies can prove to be both opportunities or threats to organisations in terms of, for example: Marketing Organisational culture Production methods New product development Communication

Economic factors The current or expected economic climate will affect businesses. Factors include: The business cycle Interest rates Exchange rates Inflation Unemployment Globalisation Emerging markets

Environmental Factors These include ecological and environmental aspects that affect industries such as tourism and agriculture. Factors include: Climate Climate change Weather Geographic location Environment-friendly products

Political factors Political and legal factors can have significant impacts on businesses. Government policies affect business activities through: Taxation Subsidies Regulation Legislation Decisions related to trade and access to markets such as the enlargement of the European Union

Legal factors Government legislation affecting businesses includes: Health and safety laws Employment laws Consumer protection Environmental protection Competition laws

Ethical factors Moral principles and values guide individuals and firms. Considerations of right versus wrong influence the behaviour of firms and their suppliers. Factors include: Exploitation of child labour Wage equity between men and women Working conditions Fair trade Corporate social responsibility Sustainability