ASSALAMUALAIKUM to everyone,hopefully our life today is better than before this...
For today lecture, Dr Ummi teach us on chapter three. In brief, this chapter is about
"EVALUATING A COMPANY'S EXTERNAL ENVIRONMENT"
This topic more focusing on external environmental factors that should be considered by all companies.It is because by knowing the certain factors of company such as internal and external factors, it able for company to make a plan of handling their production cost, competition, target and another things.
This topic also touched six components in PESTEL analysis which are;
E = Economic conditions
S = Sociocultural forces
T =Technological factors
E =Environmental factors
L = Legal conditions
Those competitive forces are :
a) Competition from rival sellers
b) Competition from potential new entrantsc) Competition from producers of substitute product
d) Supplier bargaining power
e) Customer bargaining power
