Name: Instructor: Course: Date: Business Opportunity External Economic environment refers factors beyond an organization control within the market and the broader economy which influences prosperity and success of a firm. Understanding external economic environment helps to make a corporate informed decision of business endeavors. In this regard it plays a role determination of failure or success of a business enterprise. Currently there rises a stiff competition regarding the business opportunity which requires the organization to capitalize on employing digitalized display. This will reduce the available competition since other business within the industry uses the window display mechanism (Fischer 485). Additionally it requires close interaction with frequent and prospective management elements helps in increasing tourist attraction mechanism. Therefore the project requires effective competition analysis to establish weaknesses within the industry and capitalize on it. Work Cited Davis Rachel and Irene M. Duhaime. "Diversification vertical integration and industry analysis: New perspectives and measurement." Strategic Management Journal 13.7 (1992): 511-524. Fischer Stanley. "The role of macroeconomic factors in growth." Journal of monetary economics 32.3 (1993): 485-512. Harms Brent and Kurt Johnson. "Custom er identification and marketing analysis systems." U.S. Patent No. 6 070 147. 30 May 2000. Oster Sharon M. "Modern competitive analysis." OUP Catalogue(1999). ReVelle Charles S. and Horst A. Eiselt. "Location analysis: A synthesis and survey." European journal of operational research165.1 (2005): 1-19. [...]
Identify how the influence progress toward your goals, and developing strategies to interact with them to advance your goals.