Describe regulatory and legal factors and trends
Describe regulatory and legal factors and trends
There are many elements that can go into an environmental scan, and your analysis will depend on the nature of your business unit, product portfolio, target market, and other factors related to the scope of your business.
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Your environmental scan should include some or all of the following elements:
Economic factors and trends
Political factors and trends
Regulatory and legal factors and trends
Societal factors and trends
Technological factors and trends
Geographic factors and trends
Porter’s five forces that consists of the following aspects:
Threat of new competition
Threat of substitute products or services
Bargaining power of customers (buyers)
Bargaining power of suppliers
Intensity of competitive/industry rivalry
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