SLEPT Analysis (Social, legal, economic, political and technical): It is important to ‘scan’ the external environment before making business plans or when evaluating existing ones. Doing so takes the form of a SLEPT analysis and, therefore, scanning or investigating the social, legal, economic, political and technological impacts that may or Read more…
In business, the role of PESTLE analysis is very important. The PESTLE analysis is a useful tool to understand the “big picture” of the environment in which it is operating and the opportunities and threats found in it. It is originally designed as an environmental business scan; This analysis is Read more…
ETOP- Environmental Technology Opportunities Portal: The full form of ETOP is the Environmental Technology Opportunities Portal. It is a website. It is designed to present programs that encourage the development of new profitable environmental technologies. It is an organization based on education. It focuses on job competencies and workplace skills. Read more…
Environmental Analysis: Environmental analysis is the process of monitoring an organization’s environment to identify current and future threats and opportunities that affect its ability to achieve the company’s objectives. The proper use of environmental analysis can help ensure organizational success in many ways. It helps companies adapt to environmental change Read more…
Economic environment: The face of the economic environment in the Indian economy has changed dramatically since 1991. Previously, pricing in India was governed by managed price mechanisms, but market forces today govern prices. Economic environment supported by extensive reforms in the last decade, India’s economic growth has been robust. A Read more…
Sociocultural Environment: The sociocultural environment of a business is customs and value, which directs business practices. It is created by the demographic characteristics of its leaders as well as their leaders. This can be evident in the company’s vision and mission statement. The value of a company is reflected in Read more…
Micro Environment: Micro environment refers to the environment that is directly in the business organization and can directly influence the regular business activities. It is connected to a small area in which the firm works. The micro environment is a collection of all the forces that are close to the Read more…
What is Macro Environment? The general environment within the economy which affects the working environment, performance of employees, decision-making, and strategy of all business groups at the same time, is known as the macro environment. The macro environment is the remote environment of the firm, i.e. it exists in the Read more…
Organizational Environment: Each organization should be considered as operating in an environment. Organizations are neither self-reliant nor self-sufficient. Rather they exchange resources and rely on the external environment. The external environment can be defined outside of the organization as all forces and conditions which are relevant to its operation and Read more…