Discussion Post: External and Internal Environments
Evaluation of a company's external and internal environments is vital in order for managers to be able to formulate strategy. But how do these two environments interact? Is one more important than the other?
For your initial post, address the following:
a) Explain the relationship between a company's external environment and its internal environment
b) Assess which one has a greater impact on company strategy
c) Share an example from personal experience or news media that supports your argument. For example: Consider a hike in gas prices. In an industry dependent on gas, severe increases in price cause them to make changes internally, supporting the argument for the external environment.
Respond to at least two of your peers by respectfully explaining why you agree or disagree with their assessment of which environment has a greater impact on company strategy, and evaluate the strength of their supporting example's ability to support their argument.
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.