Weakness means a lack of resources or capabilities which prevent company in creating economic values or gaining competitive advantage. PESTEL analysis tool is used by the companies to track and analyse the macro environment in which the company operate.
External analysis can be done through SWOT method.
Natural factors include renewal and non renewal resources provided by the nature used as raw material by the organisation. For example government provide subsidy or low rate of taxation of retailer business then it impact positively on the marketing decisions of the organisation.
If company fails to identify its strength and weaknesses than it cannot analyse macro environment factors then it fails to formulate strategic plans and tactical plans. The Journal of Business Perspective, vol.
Social and Cultural factors: Organisation should take decision after considering the availability of these resources.
These forces includes individual, group or government. Before making any business decision internal and external analysis should be conducted because environment in which business operates is an important part of planning. O stands for opportunities. This force could include corporate social responsibility, fair trade, affiliation between corporations and charities.
With the analysis of resource availability organisational capability can easily identified. Social and cultural forces: D2 critically evaluate the impacts that both macro and micro factors have upon business objectives and decision-making. Cultural and social analysis helps in identifying current trends, lifestyles, fashions and other components of culture.
Additional Considerations A newer force which is gaining in importance is ethics.Global Organizational environment analysis of IKEA. Print Reference this The Macro-economic environment is the most important environment which a firm or business must consider for devising an efficient strategy to gain a sustainable competitive advantage in the marketplace.
Global Organizational Environment. The name IKEA is an acronym. Environmental Analysis of IKEA Essay Words 6 Pages Environmental analysis is integral to understanding how the organization operates within the organization itself, with in the industry and within the macroeconomic environment.
2. How does the IKEA Group approach social and environmental issues? IKEA's low prices must never be achieved at the expense of people or the environment.
PESTLE - Macro Environmental Analysis. The PESTLE Analysis is a framework used to scan the organization’s external macro environment. The letters stand for Political, Economic, Socio-cultural, Technological, Legal and killarney10mile.com approaches will add in extra factors, such as International, or remove some to reduce it to PEST.
Get affordable online Locus Assignment Help in Unit 1 Business Environment Assignment – IKEA, “IKEA”faces these macro environmental factors.
Big and major changes in the macro environment factors are usually outside the control of business so it is necessary that management of the company should be able to analyse the effect of these.
Transcript of Marketing Analysis for Ikea. Tuesday, March 4, Marketing Analysis for IKEA Macro/Micro Environment * Political - the environmental protection is increasingly becoming a global chase.
- Singapore has a Environmental Protection Law to require the quality of Ikea's product. *.Download