CHAPTER 3 : EVALUATING COMPANY’S EXTERNAL ENVIRONMENT.

 Assalamualaikum…

We meet again; today topic is how to create business strategy? Ok..what I learn from the lecture is understand the company situation first before make any decision. The first flow is thinking strategically about the external and internal environment of the business, create vision, identify promising strategic option and lastly select the best strategy to implement it in the business.

Besides that, the organization must understand about the macro environment situation as the external factor to manage organization itself. SWEET SOUR…J.   It calls as PESTEL.

Hmmm…politic factors? It can impact on many vital areas for business such as quality of the infrastructure of the economic like road system.

2^nd, economic factors? If there is higher national income growth, it may raise demand for the firm’s products.

3^th, sociocultural factors? For instance, nowadays many career women that cause a lot of boutique and instant foods.

4^th, technology factors? Can reduce cost, improve quality and lead to innovation to create new products and new process.

5^th, environment factors? Example, changes in temperature can impact the farming industries.

Lastly, legal factor like minimum wage legislation…

                                                                                     

 FIVE FORCE COMPETITION

KEY SUCCESS FACTORs (KSFs ) it can conclude that any organization have their own advantage to be success in the business. 

 hahaaaaa...too jea kot.