business managers could forget about outside influences (we call these external factorsin this type of analysis). Aside from the company’s internal resources and industry factors, PEST's macroeconomic factors can impact a company's performance in a big way. ...
It helps in analyzing the internal and external factors influencing an organization. After executing the environmental analysis process, management should evaluate it on a continuous basis and strive to improve it. Strategy Formulation- Strategy formulation is the process of deciding best course of actio...