Question

1- Influence of the external environmnet?

2- strategic management in private and gov't sectors?

3-methods of conducting external assessment?

@solve these with SA style@

Answer 1

1. The external environment is such which influences the working of a business. These external factors have an impact on the ability of the businesses. The external factors affect the investments, strategic decisions and the goals of the business. There are n number of external factors that affect the business organisation, these may include some factors such as environmental factor, legal factor, political factor, social factor and technological factor. All the mentioned factors affect the business in either ways, whether directly or indirectly. These external factors have such an influence over a business, because these factors are affecting the business globally. They function in a global manner.

2. Strategic management in private business organisations is an important aspect to look into. The strategies that are framed by the management have an overall impact on the organisation's functions. The strategic management not only includes the policy formation but also, strategy implementation and strategy evaluation. The implementation of the strategies involve, deciding in which the new business is to be involved, how to allocate the resources, etc. But on the other hand in public or govt. organisations, the main pressure and objective is to change and manage the mission and vision of the organisation.