ENTR/MGMT/MKTG 344 Internships -- Pitts: Home

There are a number of ways to understand the dynamics of a business and analyze its position within the industry, or industries, in which it is operating. Below is an outline adapted from the work of Wheelen and Hunger (2012) with links to applicable parts of this guide. A full outline is also linked below as a Google Doc.

• Current Situation
  • Current Performance
  • Strategic Posture
• Governance
  • Board of Directors
  • Top Management
• Internal Environment: Strengths & Weaknesses
  • Company or Organization Structure
  • Company or Organization Culture
  • Company or Organization Resources
  • Summary of Internal Factors
• External Environment: Opportunities & Threats
  • Natural Physical Environment: Sustainability Issues
  • Societal Environment
  • Task Environment
  • Summary of External Factors
• Analysis of Strategic Factors (SWOT)
  • Situational Analysis
  • Review of Mission and Objectives

Note: This is only a suggested outline for a firm analysis. Not every section or question in the full outline below may apply to your company or organization, and ultimately, you must follow all instructions provided by your professor.

While Wheelen and Hunger (2012) use SWOT analysis in their firm analysis outline, it is also worth mentioning PESTLE, which is a macro approach to industry analysis focused primarily on external factors. PESTLE analysis is essentially a reframing, or perhaps an expansion, of the categories in Wheelen and Hunger's External Envionrment: Opportunities & Threats.

Some of the following will be more important to your company or organization than others.

• Political: Factors relating to government control and influence
  • Examples: Conflicts, economic/fiscal policies or legislation such as taxation and trade tariffs
• Economic: Factors that can impact a company or organization's prospects, product/service prices, supply and demand
  • Examples: Foreign exchange, inflation, interest, and/or unemployment rates
• Sociological: Factors that can impact consumer behavior and lifestyle choices
  • Examples: Demographics (statistical data such as age, race, ethnicity, gender, marital status, income, education, and employment) and psychographics (attitudes, aspirations, and other psychological criteria)
• Technological: Factors relating to technology and technological innovation
  • Examples: Automaton, information and communication technologies, licensing and patents, research and development
• Legal: Factors that affect the policies and procedures of an industry
  • Examples: Consumer protection and employment laws, industry-specific health and safety regulations
• Environmental: Factors relating to the natural physical environmental and its protection
  • Examples: Sustainability issues such as air and water quality and global climate change