Context:
Contemporary businesses cannot afford to ignore the environments in which they operate. To navigate this vast and ever-changing landscape, businesses must keep a keen eye on the external factors that influence it. Customer behaviour, government regulatory, competitor strategy and public opinion all impact on a firm’s success. The environmental scan report is an effort to identify these factors and propose solutions to the risks they pose.
Instructions:
The environmental scan is aimed at proposing solutions to the environmental challenges faced by firms. Using the tools and frameworks provided in the content of the subject, you must:
• Discuss general and historically relevant responses to the four types of factors (discussed below) which can influence the environments in which businesses operate
Follow the following structure.
Introduction
Introduce topic; Company I choose is Telstra as for the MACRO scan, introduce it in two or three sentences. Then explain what the rest of the paper will be about – that is, you will be examining the MICRO environment for Telstra, looking at the 4 key elements – consumer behaviour, public opinion, competitor analysis (You must analyse Porter’s five forces) and government regulation (around 200 words)
Main Body
In this section (bulk of the essay), you will be examining the micro issues and their influence on the business environment for Telstra. Have a few paragraphs for each element (could also have a heading or sub-heading for each.)
Conclusion
Conclude strongly with a few sentences that wrap the paper up. Summarise the main points of the main body and include findings and recommendations.
Please follow the following structure.
Structure
Executive Summary
1. Introduction
2. Micro Environmental Scan – Telstra
2.1.1. Impact of Consumer behaviour
You can discuss using following factors with real examples of Telstra.
- (Dependent on cultural, social, personal and psychological factors and Marketing and brand development can influence customer behavior.
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- How Telstra responds to Consumer behaviour
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(Responding to changes in customer behaviour as well as proactive marketing can influence it)
(Responses to customer behaviour should be specific to the factors guiding consumers (ie culturally, socially, personally and psychologically focused responses)
2.2.1. Impact of Public Opinion ( write about Interest groups, conventional and social media platforms and public beliefs all influence public opinion. Controversy is significant negative opinion caused by a single event)
2.2.2. How Telstra responds to Public Opinion
2.3.1. Competitor Analysis (Must analyse each of Porter’s five forces)
Start writing answering – High or low for each.
- Threat of New Entrants –
- Bargaining Power of Suppliers –
- Bargaining Power of Buyers
- Threat from Substitute Products
- Rivalry among the existing players.
2.3.2. How Telstra responds to Competition
2.4.1. Impact of Government regulation
2.4.2 How Telstra responds to Governmental policy
3. Conclusion
4. Findings and Recommendations
5. Reference – (use APA style)
Don’t forget to make the paragraphs ‘flow well’ and link them as much as possible
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