The External Business Environment

[@Learnloads]

Thanks for this. I know we all love to divide the external environment into different categories - here in the UK business teachers love to talk about PESTLE factors (political, economic, social, technological, legal and environmental). Fair enough, but at the end of the day there is only so much value in these little boxes because they all overlap hugely. For example we all know that policy and political considerations have a big influence on economic factors and its crystal clear that technology is not just for boffins and inventors - its changing societies and economies very fast. As you say, the key thing is to think about how a business can cope/respond to the external environment. Only in the US and a few other places can global factors be dumped into a separate box as though they do not immediately impact the US! Really?

[@kasunrathnayake4733]

It was very important. Thank you very much!

[@Alanisbusinessacademy]

You are welcome!

[@kmh1036]

Why do this on this app? You’ve made it more time consuming than it needed to be, would have been better as a slideshow.

[@TheKnifeWars]

Political/Legal environment would be a good additional one too.

[@Alanisbusinessacademy]

Matthew Koenig Very true. I include it in an updated video.

[@FOX.125]

@@Alanisbusinessacademy can u send the link

[@markwyn2040]

The video should have an example of the external business environments. Presentation is a bit vague imho.

[@Alanisbusinessacademy]

Hey thanks for the feedback. I have a more recent video on the topic (this one is 9 years old). You may want to check it out.

[@Capachomexico]

Are you familiarized with the Itaipu binational? In that situation, do you have an idea of which of the general environment segments would apply the most and why?

[@Alanisbusinessacademy]

William Levy Hi William. Unfortunately I'm not familar with Itaipu Binational. Would you be willing to provide a brief introduction? Perhaps than I can help.

[@user-gi8fs6xl5o]

Where are the internal enviornment?

[@perismoak]

Hi, what is the differences between environmental scanning and external environment? Both are using Pestle strategy right?

[@Alanisbusinessacademy]

puterianisz You're exactly right. Environmental scanning is the process of looking at the external environment for opportunities and threats. Hope this helps!

[@charliemakitla7203]

What about political environment,

[@bananamanjunior7575]

2:30 When the loquacious talk stops

[@palidee9653]

is this also known referred to as marketing environment?

[@Alanisbusinessacademy]

There are some similarities however the marketing environment is a bit different. The marketing environment is looking at aspects that may influence the marketing activities of a firm, while the external environment is look at those factors that may influence the broader firm.

[@pratimadahiya6318]

#environmentandbhakti

[@samjohnson1107]

this video as so frustrating lol. You made a 5 minute video to just tell us what they are and did literally 0 explanation.