This week you are to complete an External
Environment assessment. Please ensure that you comment on trends in each of the
six (6) external forces. You will use this analysis in order to complete next
week’s SWOT chart.
Company:
KFC
The termexternal environmentrefers to factors and forces outside the organization
affecting its performance.
1.
The
economic component encompasses factors such as interest rates, inflation,
changes in disposable income, stock market fluctuations, and business cycle stages.
2.
The
demographic component is concerned with trends in population characteristics
such as age, race, gender, education level, geographic location, income, and
family composition.
3.
The
political/legal component looks at federal, state, and local laws as well as
global laws and laws of other countries. It also includes a country’s political
conditions and stability.
4.
The
sociocultural component is concerned with societal and cultural factors such as
values, attitudes, trends, traditions, lifestyles, beliefs, tastes, and
patterns of behavior.
5.
The
technological component is concerned with scientific or industrial innovations.
6.
And
the global component encompasses those issues associated with globalization and
a world economy
