You will submit an environmental scan of the company within the chosen market domain using the PEST format. This analysis will be written viewing the company from the outside to the inside. This assessment will consider the knowledge gained from the SWOT analysis generated in Milestone Two and assess the company’s competitive readiness from external dimensions, extending to the global marketplace. The scan will include the external political, economic/financial, sociopolitical, and technological trends for a given market environment and a potential market. The information gathered from this scan will assist in the identification of the most lucrative market niche in which to formulate an actual business development strategy in Milestone Four.
A. External Factors
- PEST Analysis: Complete a PEST analysis on the external factors that affect the company’s readiness to compete. What are the political,
economic, social, and technological factors that affect the company?
- Prioritized List: Based on the PEST analysis, examine and address the key issue from each quadrant to assist in the success of your chosen company. Include supporting rationale and research as needed.
- Readiness: Based on external factors, evaluate the company’s readiness to compete in the business environment of the market domain. Support your evaluation with information from your market domain evaluation and PEST analysis.
Guidelines for Submission: Your paper must be submitted as an 8-10-page APA-style Word document with double spacing, not counting the cover page and reference page. It must be in 12-point Times New Roman font, with one-inch margins and at least three authoritative sources cited in APA format.