Posted: July 14th, 2022

The firm’s external environment concerns all the elements and factors that occur outside the company and which the company cannot control.

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Assignment
The firm’s external environment concerns
all the elements and factors that occur outside the company and
which the company cannot control. They can positively affect (an opportunity)
or negatively affect (a threat) the company or an entire industry.
The external environment is divided into two
types: i) The Competitive Environment, composed of rival
firms, new entrants, substitutes, suppliers, and buyers (clients and customers);
and ii) the General Environment. In the General
Environment, the factors are arranged under broad categories: economic,
political & legal, demographics, social-cultural, technological, and
natural environment.
Deliverables
During the last two years, we experienced a
lot of new challenges coming from the General Environment:
1
Select two factors you considered most relevant in affecting the
companies and/or industries.
2
Classify the category in which they fit in.
3
Explain in your answer how each factor affected or can affect
the firms or even industries (a collection of the firms that compete with
products or services of a similar end. ex.: the food industry). Were they
opportunities or threats?

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