environmental analysis
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What data sources are available to any organization in order to perform an environmental analysis and how reliable is this data? This is in reference to developing a strategic business plan.
P.S. Your response should be supported by at least one outside resource (properly credited). Please provide appropriate references for statements and/or quotations next to the statements and/or quotations itself. Apart from the references that you would provide at the end of your response as well.
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Solution Summary
What data sources are available to any organization in order to perform an environmental analysis and how reliable is this data? This is in reference to developing a strategic business plan.
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Some of the common data sources for performing environmental analysis during strategic planning process are:
1) Published reports, data and research reports about industry from industry sources such as trade organizations, research organizations like Hoover's, Dun & Bradstreet and trade magazines. Such reports contain information about current state of the industry, emerging trends, consumer tastes and preferences, technology related trends,etc. Data published by industry sources and leading research organizations can be considered quite reliable.
2) Competitive reports from research companies and popular media about competitive scenario in the industry, ranking or comparison of major players in the industry, market share related reports, data obtained from customer surveys,etc. Again, in this case, data obtained from industry specific sources and reputed research or market intelligence firms can be considered quite reliable. However, data obtained from other medias such as reports, articles,etc. obtained from miscellaneous internet sites need to be used cautiously as such reports or information may be biased or prone to ...
Education
- BCom, SGTB Khalsa College, University of Delhi
- MBA, Rochester Institute of Technology
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