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Answer in Management for Dela #167189

Author:
March 11th, 2023

What are the implications for managing the external environment?

The external environment comprises all outside factors that may affect an organization. Managing these factors is crucial for organizational sustainability. For example, controlling competition will help a firm to counter the challenges that rivals present while they vie for customers. Managing political and economic issues is vital to comply with tax policies, trade regulations, and minimum wage rules. it is also crucial to analyze demographic characteristics to identify a population’s specific needs. Technological characteristics also present the need to manage this facet because an organization’s success depends on how well it utilizes and responds to technological changes.

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