Question

 

In regard to strategic planning, internal analysis refers to the identification and evaluation of unlike factors that are from inside the business and how they can affect a business from or to meeting its set ideas while external analysis is the making mindful and assessment of the different factors from outside a business that can delay or help contribute to it being effective. Some of the factors that organizations analyze parts of the internal analysis include the capability of the organization employees being competency and competitive in safeguarding markets for its products besides considering the costs all these will require because these are variables from within the organization. Some of the thing’s organizations analyze as part of an external analysis are its suppliers, distributors and consumers of the organization products and resources because they are part of the outside world that gives an organization both chances to make things better in terms of invention as well as pressures that boasts them behind. The results of both internal and external analysis help an organization' strategic plan as it helps in identifying the strong points it has as well as faintness, chances and threats through the SWOT analysis so as a organization can make use of the chances given to them to guarantee their plans are met or to deal with jeopardies they are facing to ensure their strategic plans are met.

Answer 1

The assessment will respond to the above-given answer.

Everything written there is correct.

Internal environment refers to the factors and cultures within the organization that influence the organization's decisions and areas.

Moreover, the external environment includes all those factors beyond the control of the business organization and affects the organization significantly.

Internal environment includes factors like plans, policies, resources like human resource and financial resource, brand equity, equipments, and relationship with the employees and the skills and abilities.

These factors are within the control of the business organization, and these factors influence any organization's strength and capabilities.

All these factors impact a lot in gaining a competitive advantage over other firms.

External environment factors include any alterations or changes regarding any political, economic, technological, social, ecological, and legal factors beyond the controls of the business organization but still insurance the business behavior.

All these internal and external environment factors help the business organization gain any competitive advantage through any given opportunity by any external environment factors and help understand the threats and coping with the early warning signals to avoid any damage.

Scanning internal and external business environment also helps any organization in an optimal allocation of various resources while considering the cost and time involved and helps and assist in planning and decision-making process of the business enterprise while considering the strengths, weaknesses, opportunities, and threats in front of the enterprise.