Internal and External Environment of Business
Topic – Business
Structure of Report:
- Title page
- Abstract
- Table of content
- Introduction
- Discussion
- Conclusion
- References: 30 (journals and books)
Word count – 3300 words
Structure Conditions
Internal Audit and Strategy
The elements of the internal environment
- Management structure
- Work environment
- Corporate image
- Financial resources
- Technological capabilities
- Physical and human resources
- Mission & objectives of Business
- Labor management relationship
Apply the Tows matrix here
External Audit
- PESTLE
Emphasize on how each factor affects the organisation and how they can use this information to their advantage.
- Microeconomics factors and implication
- Porters five
- Price elasticity
- Market structure
Conclusion
References
Strategy:
Product Life Cycle
- Introduction
The launching of the product is done. Sales grows slowly as people are not much aware about the product. Generally, informative advertising is used and usually there is no profit.
- Growth
Sales starts to grow rapidly. Persuasive advertising may be used and the prices may be reduced as new competitors enter the market. This leads to starting of profits.
- Maturity
The sales starts growing slowly and the intensive competition in the market leads to competitive or promotional pricing may be used. Advertising expenditure is managed in order to sustain growth. Profit may soon start to take rise by entering the stage of maturity.
- Decline
This is the situation where sales will fall and product starts losing its appeal. There is a stiff competition in the market and advertising is reduced and then stopped. It may also lead to stop the production in future.
Structure Conditions
- Critically evaluate the relevance of business environment and the key elements.
- Critically examine the market structure and then emphasize on the structure of UK.
- Determine the laws of demand and supply, and how it affect your chosen organisation with the help of diagrams.
- Please link the above to elasticity of demand and supply, price and income with the help of diagrams.
