Which of these external factors are critical in the Food and Beverages industry? Please explain.
An environmental scan is a strategic management process that can be applied to a whole company, a division of the organization, a product line or service, a geographical region in which the company operates. The main purpose is to identify all strengths, which are the internal areas in which the company excel at; opportunities, which are those internal positive factors or situations the company can capitalize on considering its strengths; weaknesses represent critical internal negative factors that should be eliminated or diminished; threats are external negative factors which can block the company from achieving its goals and objectives.
External factors include:
· Legal and regulatory
· Global
· Economic
· Technological
· Innovation
· Social
· Environmental
· Competitive Analysis
Which of these external factors are critical in the Food and Beverages industry? Please explain.
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