1. Aspects of Environment Scanning
1.1. Environmental scanning
1.2. IDENTIFYING EXTERNAL ENVIRONMENTAL VARIABLES
1.2.1. Natural environment
1.2.2. Societal environment(long-run decision)
1.2.2.1. Economic forces
1.2.2.2. Technological forces
1.2.2.3. Political–legal forces
1.2.2.4. Sociocultural forces
1.2.2.5. Task environment
1.2.2.6. Industry analysis
1.2.3. Task environment
1.2.4. Industry analysis
2. Strategic Importance of External Environment
2.1. STEEP analysis monitoring trends in the societal and natural environments
2.1.1. Current Sociocultural Trends
2.1.1.1. Increasing environmental awareness
2.1.1.2. Growing health consciousness
2.1.1.3. Expanding seniors market
2.1.1.4. Impact of millennials
2.1.1.5. Declining mass market
2.1.1.6. Changing pace and location of life.
2.1.1.7. Changing household composition
2.1.1.8. Increasing diversity of workforce and markets
2.1.2. Ecological Trends
2.1.2.1. Regulatory risk
2.1.2.2. Supply chain risk
2.1.2.3. Product and technology
2.1.2.4. Litigation risk
2.1.2.5. Reputational risk
2.1.2.6. Physical risk
2.1.3. Political–legal Trends
2.1.3.1. High levels of taxation
2.1.3.2. constraining labour laws
2.1.3.3. Government bureaucracy