Essay On External Environment
External environments are surrounding the company received from outside factors such as the economy, technology, social, political and legal. These environments affect the company or organizations in many ways as they influence the success of the company. A lot of consideration needs to be taken by the organization in handling these external environments.
For the company we interviewed, which is a consultancy company, these environments also affected them. Understanding these factors allows organizations to have proper currency-hedging plans and strategies in place. The economy inside and outside the country may affect any kind of business because financial is one of the most important part to be manage in a company or organization. So, if the economy is not doing well, the company also may be affected, which may lead to failure.
So does the company we interviewed,
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They use kit to test for the halal food. And the kit is quite costly. Puan Rahmah also mentioned that the lab they are developing do cost very high to the company. They need the lab to be able to do the halal food testing. Furthermore, with the lab they able to gain trust from the customer and achieved standard that legal provided. Their lab must undergo many inspections to be able to achieve the standard set by legal and laws. So, with the technologies they have they able to do many services as well as achieving the international standardization.
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