Environmental: Global warming and the increased need to switch to sustainable resources ethical sourcing (both locally and nationally), including supply chain intelligence.Legal: Changes to legislation impacting employment, access to materials, quotas, resources, imports/exports, and taxation.How will this affect the organisation’s products or services? Technological: New technologies are continually emerging (for example, in the fields of robotics and artificial intelligence), and the rate of change itself is increasing.Sociological: Cultural norms and expectations health consciousness population growth rates age distribution career attitudes health and safety.Economic: Economic growth/decline interest, exchange, inflation and wage rates minimum wage working hours unemployment (local and national) credit availability cost of living.Political: Tax policy environmental regulations trade restrictions and reform tariffs political stability.It audits six external influences on an organisation:
It is a broad fact-finding activity around the external factors that could affect an organisation’s decisions, helping it to maximise opportunities and minimise threats.
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