Management for General External Environment- myassignmenthelp

Question: Discuss about the Management for General External Environment. Answer: An organizations external environment refers to all the forces, factors, situations and conditions outside the organizational boundary that has significant potential to alter the operation of the organization in the market. This external environment is again divided into two by Robbins. They are general external environment and specific external environment. The former according to Robbins et al. (2016, p. 34) consist of the broad socio-cultural, technological, economic, political/legal and global conditions in the society in which the organization operates. He further explained that modification in general environment impacts organizations specific environment that is comprised of groups, individuals or organizations directly related. Furthermore, the general external environment is far greater for the organization to be controlled and organization have little influence on the general external environment. External environment of JB HI-FI JB Hi-Fi is an Australian retail store operating from 2002. It has now extended itself around Australia and has entered in online market. JB Hi-Fi deals with the electronic goods. Socio-cultural As the company deals only with the electronic products in both their brick and wall and online stores around Australia, it is easy for them to circulate their products. Technology has entered into the core of Australian society and culture. Their everyday life is highly dependent on the technology. Australians from their very childhood is accustomed with the electronic devices and use some kind of product (Adeoye and Elegunde 2012, p. 59). Moreover, Australia is a hub for international students and the number is growing over time. This plays positive factor for the organization. Economic Australia has an overall stable economic condition. The current GDP as per 2016s report is 1.205 trillion USD. It reflects the capability of Australians for availing the products offered by the company. Political Current political condition of Australia is stable. Their political and legal policies provide advantages to the business organizations of all kind. Australia is enjoying industrial burst due to their favorable political condition and legal policies. However, the upcoming election is likely to affect the retail industry. As evidenced in 2010 and 2013, the retail industry underwent turmoil in the ALP government. It left the industry in a state of limbo. Technological As discussed earlier, Australia has attained technological advancement. It is now an integral part of every Australians social life. Population of all age group takes complete advantage of the technology. Hence, it is unlikely for JB HI-FI to go out of business in this technologically advanced market. Moreover, the technological advancement of the country makes it easy for the company to transport their products. It further facilitates them in delivering products to their online customers. Impact of Political factor of 2016 on JB HI-FI The 2016 election in Australia had little impact on the Australian retail industry as compared to previous election. However, it was a tough tie for the retailers from the employment perspective. The employment opportunity for the retailers considerably fell during the time of election, which considerably affects the business and its profitability. However, the Australian Bureau statistical report denies the complete blame on the federal election alone as according to their report, there had been little slowdown due to it. References Adeoye, A.O. Elegunde, A.F., 2012, Impacts of external business environment on organisational performance in the food and beverage industry in Nigeria -British Journal of Arts and Social Sciences,6(2), pp.56-65. Australia GDP 20171960-2017 Data Chart Calendar Forecast News. Retrieved 23 Nov. 2017 https://tradingeconomics.com/australia/gdp Auzair, S., 2011, The effect of business strategy and external environment on management control systems: a study of Malaysian hotels -International Journal of Business and Social Science,2(13). Bryson, J.M., 2011,Strategic planning for public and nonprofit organizations: A guide to strengthening and sustaining organizational achievement(Vol. 1). John Wiley Sons. Crane, A. Matten, D., 2016,Business ethics: Managing corporate citizenship and sustainability in the age of globalization - Oxford University Press. Dam, L. Scholtens, B., 2013, Ownership concentration and CSR policy of European multinational enterprises - Journal of Business Ethics,118(1), pp.117-126. insideretail.com.au 2017, The election effect and retail - Inside Retai, Retrieved 23 Nov. 2017 https://www.insideretail.com.au/blog/2016/05/27/the-election-effect-and-retail/ Jb hi-fi Company 2017.JB Hi-Fi | JB Hi-Fi - Australia's Largest Home Entertainment Retailer, retrieved 23 Nov. 2017 https://www.jbhifi.com.au/ Robbins, SP, DeCenzo, D, Coulter, M Wood, M 2016, Management The Essentials 3e, Pearson Australia Group Pty. Ltd., Melbourne.