>> Strategic Management
Acting as a consultant to a university that has two research groups that are considering starting UK-based businesses. At the present time, each research group is at the early stages in its opportunity recognition process and has asked the firm you represent to analyze the external business environment using the PESTEL tool in order to identifyFOUR key trends that are likely to affect the possible ventures in the next THREE years.The Research Groups are not willing at this stage to disclose any information regarding their innovations or intellectual property for commercial reasons.
The opportunities for investigation are:1. A new type of turbine that can generate renewable electricity from waves in the sea (i.e. a wave power technology).