Question

In: Operations Management

Compare the internal and external environments of a firm.

Compare the internal and external environments of a firm.

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Expert Solution

Here is the comparison of a internal and external business environment of a business.

Internal Environment- Internal environment also known as micro environment which is controllable by the business. It happens in the organization and under this the firm operates.

External environment- External environments are a general environment which affects not only a firm but the whole the industry. This is not controllable by the firm.

Elements- Micro environment or internal environments has element which is known as COSMIC Competitors, Organization itself, Suppliers, Market, Intermediaries and Customers. While in external environments the factors are PESTLE, i.e. Politics, Economic, Socio-Cultural, Technological, Legal, and Environmental

Nature of elements- In the external analysis the scanning elements are General while in micro it is specific.

Influence- Internal analysis affects directly and regularly and external environment elements influence indirectly and distantly.

keosha answered 1 year ago
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