All organisations face an external business environment that constantly changes. Sometimes these changes are slight eg minor amendments to regulations or a new firm entering the market as a ‘small player’. At other times, however, changes in the environment may have important consequences for an organisation eg new technologies, changing consumer tastes or a merger between two large competitors. Changes in the business environment create both opportunities and threats to an organisation’s strategic development, and the organisation cannot risk remaining static. It must monitor its…

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