BUSINESS ENVIRONMENT

Analysing A Business Environment

Analysing A Business Environment

Introduction

Environmental scanning is a collection of problems from the external environment for information management, organizations and use of the method of strategic decision-making process. Apart from the recent issues, environmental scanning strategic intelligence can also help quantify the problems foreseen. In environmental scanning, the internal analysis is considered to be the first step. Because of the fact that an organization should fully understand its internal atmosphere before considering the external surroundings, will help the organization to quantify and justice. The environmental scanning or monitoring seems to have originated in the field of business management. In addition to testing the organization's threats and opportunities, environmental scanning is also encouraged for the potential alliance and dominant ideology. Environmental scanning is significant because for the dynamic management of public relations professionals, the success of the organization will be based on the senior leaders having the aptitude to adapt to hastily changing outer atmosphere.

There is clear evidence in the wider research on markets of the contribution they make towards a wide range of economic and social policy goals. This includes benefits in the areas not only of regeneration, economic development and culture and tourism, but also food and health, community cohesion and the environment.

Concern has been raised in a number of different quarters in recent years at the decline of many traditional markets. However, much of the existing evidence on markets in London is partial or anecdotal in nature. While some of the issues identified in this research have been discussed elsewhere, this report breaks new ground by providing a comprehensive quantitative and spatial assessment of sectoral trends across the whole of London.

London- External Analysis

It is estimated that the current turnover of all markets in London is £430 million per year in total, representing 0.94% of overall retail spend in London. It is estimated that London's retail markets directly support 7,319 Full-Time Equivalent (FTE) jobs. These headline impacts illustrate the economic significance of markets in their own right. Nonetheless, there are a number of further areas where it is important to understand the value of markets. In particular, markets make a significant contribution to the vitality of London's town centres. It is estimated that customers at markets spend £752 million per year at other shops in town centres. This represents a significant multiplier effect, with market customers spending on average £1.75 in other shops in the town centre for every £1 they spend in the market. While this spend would not necessarily be lost to town centres as a whole in London if markets did not exist, it does suggest that a number of individual existing town centres would lose out if their markets were to close. A large minority (42%) of customers surveyed for this research said they would not visit the town centre if the market was not there. Markets are particularly important to many of London's deprived communities, and there is a close correlation between the location of street markets and the ...