This article throws light upon the top five techniques used by organisations to analyse and diagnose the environment. The techniques are: 1. SWOT Analysis, 2. ETOP 3. Forecasting, 4. Verbal and Written information 5. Management Information System. Technique # 1. SWOT Analysis: S stands for strengths, W for weaknesses, O for opportunities, and T for threats. SWOT analysis is the [...]
After reading this article you will learn about the relationship between environment and business. Environment is closely related with business. There is a constant 'give and take' relationship between environment and business. The business receives inputs, information and technology from the environment and gives it back in the form of outputs (goods and services). If these outputs are accepted by [...]
After reading this article you will learn about the internal and external growth strategies adopted by a firm. Internal Growth Strategy: It is a form of growth strategy where firms grow from within. They use their own resources or acquire them from outside to increase their size, scale of operations, resources (financial and non-financial) and market penetration. Intensive Growth Strategy [...]