From your readings and thoughts this week whatare some external influences on organizations?

"?a firm's external environment is divided into three major areas: the general, industry, and competitor environments" (Hitt, Ireland, & Hoskisson,2009,). External influences include "demographic, economic, political/legal, sociocultural, technological, and global" (Hitt, Ireland, & Hoskisson,2009,). Additional external influences may also include new entrants in the market, suppliers, possible threats from product substitutes, and competitive rivalry with other firms.

What are some of the implications of these external influences to an organization's strategic business planning?

External environment is critical to a firm's growth and profitability, which affects the company's...