External Enviroment

Question 1 The international environment of a firm plays a very serious role in the operations of the governing. Why is it important for physical composition in the Pacific to learn and k today about what is happening in their impertinent environment? Use examples to explain a least 5 elements in the external environment. The business dictionary defines external environment as conditions, entities, events, and factors adjoin an organization that sour its activities and choices, and determine its opportunities and risks.From this definition we can identify that external environment plays a vital role in the operations of organization. For an organization in the Pacific to maintain its longevity and productivity in the belligerent world of business it is very important to be alert and concerned to the world surrounding it in terms of entities, events, and factors surrounding it that will influence its activities and choices, and determine its opportunities and risks thus maint ain its competitive edge. Technological Element The organization must be technologically efficient.Computers are now the main path of communication. It knows no barrier. It travels through eon and space, continents, companies and what not. A press of a departure from Fiji can enable you to communicate with someone thousand and thousand of kilometers absent living in United Kingdom. It is very important that they invest in technology through equipment, training and recruitment to be able to opposition in the economy. Never before in history has innovation offered announce of so much to so many in so all of a sudden a time. Bill Gates (http//voices. ahoo. com/great-technology-quotes-sayings-5759728. hypertext mark-up language? cat=15) The medium, or process, of our time electric technology is reshaping and restructuring patterns of social interdependence and every aspect of our in the flesh(predicate) life. It is forcing us to reconsider and re-evaluate practically every th ought, every action, Marshall McLuhan (http//voices. yahoo. com/great-technology-quotes-sayings-5759728. html? cat=15) Eg. The use of ATMs (Automated Teller Machines) by commercial banks in the percentage has made banking effective and efficient.No longer have people be baffling in long lines wait to be served. The work of two to tierce people have been made easier by a single motorcar. In a Fiji Times interview the ANZ Bank CEO Vishnu Mohan explained that, 1ANZ customers can now carry out quick and timely automatic teller machine (ATM) transactions. . Economic Element The organization must also be awake of economic development, events and activities regionally and globally. 1 (Fiji Times, 3rd October, 2012, ATM Upgrade)