What four processes are involved in environmental analysis?

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//This section describes the meaning of the term environmental analysis. It also briefly illustrates the aim of performing an environmental analysis.//
Environmental analysis is a term that refers to the systematic analysis of the factors affecting the surrounding business environment. It also consists of a process of checking the detailed impact of all relevant environmental factors. The analysis could be in reference to a new project of an existing business or to assess the impact of a change in an existing business process. The primary goal of performing an environmental analysis is to understand the impact of any new business development on the corporate environment even before the proposed development takes place. Any business can only sustain in the long run by keeping a check on the environmental factors relevant to the business. However, only a detailed analysis of the environmental impact is not sufficient, the management also needs to make recommendations and improvements to the proposed business project in order to cope up with any expected negative consequences of the development of the business (O'Farrell, 2015). The businesses need to make a strategic business plan for ensuring sustainable maintenance and development of the business operations. It is also essential to properly implement the plan to ensure the long-term sustainability of the business.
//This section discusses the various stages of environmental analysis. It also illustrates all the processes of environmental analysis from the perspective of a likely change in the current business situation or initiation of a new business.//
The process of environmental analysis can be divided into four detailed processes, which are as follow:
(a) Identification of Environment Factors: There may be a number of factors concerning the environment about which the business may not have partial or complete knowledge. Firstly, it is essential for the business to identify and understand all the environmental factors relevant to the industry. This requires the business to employ a number of techniques such as brainstorming, detailed analysis of the businesses of the ...