Exam (elaborations)
MNG3701 ASSIGNMENT 02 SOLUTIONS, SEMESTER 2, 2023
- Institution
- University Of South Africa (Unisa)
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UNISA ASSIGNMENT SOLUTIONS SEMESTER 2 2023MNG3701
STRATEGIC PLANNING IIIA
ASSIGNMENT 02 SOLUTIONS
SEMESTER 2 2023
DISTINCTION GUARANTEED!
WHATSAPP 065 934 4052 FOR FURTHER ASSISTANCE. ALL MODULES ARE AVAILABLE
, Introduction
An organisation operates in environment with different factors. The organisation has to
analyse the internal and the external environment to be successful. The external
environment refers to the conditions, events, factors, and trends that exist outside an
organization and can potentially affect its performance. Analyzing the external
environment is of strategic importance as it enables an organization to understand and
adapt to the dynamics of its industry and the broader business environment. This essay
will analyse the external environment and critically discuss the various methods for
external environment analysis. The paper will also conduct an analysis of the SPAR
internal, macro-and market environment. It will further Distinguish between different
business-level strategies that SPAR can use to achieve its strategic goals and evaluate
the business level strategy of SPAR
1. external environment and various methods for external environment analysis
The external environment refers to the conditions, events, factors, and trends that exist
outside an organization and can potentially affect its performance. Analyzing the external
environment is of strategic importance as it enables an organization to understand and
adapt to the dynamics of its industry and the broader business environment. By doing so,
organizations can identify opportunities and threats, and develop strategies to effectively
compete and succeed in their markets.
One of the key reasons why analyzing the external environment is crucial is because it
helps identify opportunities. The external environment is full of potential opportunities that
organizations can leverage to gain a competitive advantage. For example, technological
advancements can create new markets and enable innovative products and services. By
monitoring and analyzing these trends, organizations can identify emerging markets or
technologies and capitalize on them. Similarly, changes in consumer preferences,
demographics, or regulations can create niche markets that organizations can tap into.
Another reason why analyzing the external environment is important is to understand and
mitigate threats. The business environment is dynamic and constantly evolving, and
organizations need to be aware of potential threats that can hinder their performance. For
example, new competitors entering the market or existing ones adopting new strategies can
pose a threat to an organization's market share. Additionally, changes in regulations,
economic conditions, or social trends can impact an organization's operations and
.
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