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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Mini lecture 5

Mini lecture 5

Q The above discussion and question highlights one critical challenge facing one industry dealing with one environmental variable (competition). What other environmental challenges can you identify that exist today in the remaining environmental forces? The possibilities are numerous. For example, economically, the United States is becoming a fragmented society. Popular press articles are constantly exploring the widening gap between the “haves” and the “have nots”. How will this impact the methods in which organizations market products? Are certain industries more vulnerable to this widening gap? Are other industries likely to benefit from it? Popular press articles can also be utilized to identify important environmental trends that would fall under the categories of political forces, legal and regulatory forces, technological forces, and socio-cultural forces.

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Before we go come down to discuss the environmental challenges faced by the organizations. I would first like to enumerate the environmental forces that plays a considerate role in shaping up business organizations and their strategies. There are six forces that control the macro environment. Political, economic, sociocultural, technological, environmental and legal. Political and legal factor refers to the changes in connection with the governmental regulations. Economic conditions influence the income and investment decisions of the organizations and consumers both (Mannucci, 2015). Sociocultural factors affect the demographic transition, technology enhances