Business and Marketing Coursework

Business and Marketing
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Business and Marketing
In business, there is a close relation between environment and profit. Before an organization strategizes, it needs to consider the external and internal environment to identify possible opportunities and threats. In undertaking environmental evaluation, a manager needs to be aware of several variables within the corporation natural and societal environment. The natural environment includes physical resources, wildlife, and climate while societal includes the society systems. Corporate activities influence the long-term decision that was not a factor before, but now business people take into consideration the concept of sustainability (Wheelen et al., 2014).
Business corporations need to scan for the natural environment for possible long term solution meaning, to be concerned about global warming by measuring and reducing its carbon prints. Corporate performance is related to environmental issues; this is because it helps management identify opportunities to fulfill future market demands by producing environmental friendly products (Wheelen et al., 2014).
Corporate should follow the following steps about environmental scanning:
Conducting industry analysis; this means being concerned about the competition within the industry. A corporation needs to assess the importance of certain forces including new entrant, the rivalry of existing busin...