Identify the external and internal environment of a company or organization in the same industry as the company you will be creating for the final Capstone project. Through this process of researching, it will tie together and expand the knowledge area for the final Capstone project.
External factors are influences outside of a company that can impact a business. Most dominantly, this includes the economic and political environment of a country, competitors, technological changes, and customers. There can be slight variations of this as indicated in the Environmental Factors diagram. Factors outside of a company that affect its ability to operate are considered part of the external environment. Some external elements can be manipulated by marketing while others require the company to make adjustments. Many times, these external factors are difficult to control or even predict, and can be downright confusing. Managers should oversee the basic components of their company’s external environment, continually keeping close watch for any significant changes.
Internal factors are the strengths and weakness of a company that can affect how the company meets its main goals and objectives. Factors such as leadership styles, the company’s mission statement, and its organizational culture are frequently considered to be internal. Employee behavior is defined by the company’s internal environment. This internal environment is made up of the variables within the company that include the current employees, management, and the corporate culture. Companies need to have the proper people in place in order to motivate their team of employees and to have knowledge of the different factors that can affect a company’s earning potential.
Assignment Name the company and state the product or service: USE TESLA
What is the Industry (i.e. airline, beverage, chemical, electronics, etc).
Identify the mission statement and provide your opinion of the company’s corporate culture
What is the company’s leadership style?
Describe the current market environment
Identify threats and why they are perceived as threats
Include at least five:
Laws and Regulations (Coercive restrictions)
Economic Factors
State of technology
Demographics affecting the firm
Social issues
Supplier initiatives
Resource constraints (natural and human)
USE THIS BOOK AS REFERENCE:
Strategic Management: Competitiveness and Globalization (13th Edition)
Author: Hitt, Ireland, Hoskisson
ISBN-13: 978-0-357-03383-8 Strategic Management: Competitiveness and Globalization (13th Edition)
Author: Hitt, Ireland, Hoskisson
ISBN-13: 978-0-357-03383-8
