External Analysis Essay Example | Topics and Well Written Essays - 750 words

External Analysis - Essay Example The external analysis allows the company to keep up to date with the changes in the industry. It helps the organization in keeping track of the stakeholders in the market including the customers and competitors. The outcome of the external analysis comes through the development and implementation of strategies. There are factors that affect the way that organizations perform these factors can be internal environmental factors and external environmental factors. The internal environment encompasses the strenghths and weaknesses of the company and covers the internal factors that can be the resources including the profitability, sales or can be the capabilities. Factors such as the corporate culture and employees also constitute to the internal environment. One the contrary, external factors are outside of the company. Advancements in technology and changes in government regulations and social policies can be characterized as opportunities or threats for the company. The opportunities for the firm include the changes in the trends, changes in the competition, analysis of new markets as well as segments, advancements in information technology and the alterations in government regulations. ... rs to entry and hence, emergence of competitors, low growth of the market, unfavorable changes in the regulation and advancements in technology that are difficult to keep up with. StilSim: Threats and the Opportunities: An external analysis of Stilsim would give a detailed view of the opportunities and threats that the company deals with. Opportunities: The analysis revealed that among the opportunities is the prospects of expansion and the advancements in technology. One of the vital aspects for an organization is its prospects for expansion. An attractive opportunity for Stilsim is the choice of spreading to other areas and expanding operations beyond the current region of work. Despite the condition of the markets, businesses of the employment firms and recruitment agencies are always in demand. This opportunity for Stilsim can enable it to capitalize over its experience and contacts in the industry and expand the operations to various cities. another opportunity that was recogniz ed was the technological opportunities. With the passage of time and the advancements in information technology, there has been an evolution in the way businesses conduct themselves. Technologies that were once seen as far sighted notion are now household commodities. This advancement in technology has provided more opportunities for businesses. Stilsim can reach its potential customers through its web presence. It could mould its website according to the needs of the customer and current trends. The internet could be exploited to communicate the core values of business and use it for E-marketing. Threats: The threats in the external environment include the company's its incompetence regarding technology and the use of state of the art systems. Stilsim is still dependent upon the use of