Research the external and internal business environments for the business you have chosen. You should use your text book or another reputable Management text book to identify the environmental factors that affect any business organisation. You then should use this knowledge to investigate the business environment of the specific business you have chosen. The businesses operate in different industries having a Specific Environment for each. The General Environment impacts on all businesses and any changes will have a mixture of good, bad or indifferent outcomes on the business you choose. Your objective is to understand how managers' behaviours adapt the business operations to changes in the external and internal environments.
The External Environment
"Those factors and forces outside the organisation that affect the organisation's performance." Robbins et al; p. 83
It consists of: The Specific Environment
The General Environment
Part One - The Specific Environment
The Specific Environment (has four (4) components - see pages 83 to 85 of the course textbook) for more information about them. These factors influence directly managers' behaviours: read chapter 3 of your textbook.
One (a) Referring to the four (4) components of the Specific Environment as they relate to the business you have chosen from the list above identify and describe two (2) examples for each component that have changed significantly over the last five (5) years.
You must explain why this change is relevant to the business and describe the impact it has had on the business.
One (b) Choose only one (1) example of a change out of the Specific Environment components and suggest one suitable response by a business manager that would ensure the business adapts successfully to that change. Your answer should be realistic and explained sufficiently.
Part Two - The General Environment
Two (a) Research the components of the general environment as they relate to the business chosen and describe one example, for each component, of a change that has had an impact on the business within the last five (5) years.
Two (b) Describe the actions of a manager that could help the business successfully adapt to each of the changes you have described in Two (a) above.