An organization has little or no control over its environment but needs to constantly monitor and adapt to these external changes, a proactive or reactive response leads to significantly different outcome.
Tax policy; environmental regulations; trade restrictions and reform; tariffs; political stability Economic: Cultural norms and expectations; health consciousness; population growth rates; age distribution; career attitudes; health and safety Technological: New technologies are continually emerging for example, in the fields of robotics and artificial intelligenceand the rate of change itself is increasing.
Global warming and the increased need to switch to sustainable resources; ethical sourcing both locally and nationally. By analysing those factors, organisations can gain insight into the external influences which may impact their strategy and business decisions.
It allows HR and senior managers to assess any risks specific to their industry and organisation, and use that knowledge to inform their decisions. It can also help to highlight the potential for additional costs, and prompt further research to be built into future plans. This means following these steps: Identify the scope of the research.
It should cover present and possible future scenarios, and apply to areas of the world in which the business operates. Decide how the information will be collected and by whom. Data gathered is often more rich in content when more than one person contributes to collecting it.
Identify appropriate sources of information. These could be stakeholders looking for HR to address specific issues or current policies that require updating. Please see our practical, ready-to-use template below. Identify which of these factors listed above are most important or could cause issues.
Identify the business specific options to address the issues, as demonstrated in the example template. Write a discussion document for all stakeholders. Disseminate and discuss the findings with stakeholders and decision makers.
Decide what actions need to be taken, and which trends to monitor on an ongoing basis. Organisations that regularly and systematically conduct such analyses often spot trends before others, thus providing competitive advantage.Research Project.
This assignment is a research component within the Auditing Practice assessment. There is no model answer to this assignment. You need to conduct desk research and based on this and any anecdotal evidence and/ or personal experience consider the questions given.
How to do industry analysis, Examples, Steps, and Porter's five 5 forces Model: Example, Advantage, Competitive Rivalry, Template, Definition and Analysis. Get the summary SWOT & benjaminpohle.com report delivered straight to your email inbox for free. Our insightful and holistic reports have helped corporate,academia and researchers to take their research forward.
Published: Mon, 5 Dec In view of the current issues facing the company as well as the result of the SWOT analysis and Porter’s Five Forces Analysis, McDonald’s may find it compelling to enter new offshore markets.
Thematic focus “Sales & Retail” by StepStone From July 4th to July 24th, MBC Consulting is participating in "Sales & Retail" thematic focus proposed by StepStone.. upon the son of man whom thou madest strong for thyself.