Explain the steps in the process of environmental analysis

The process of environmental analysis involves assessing and understanding the external factors and trends that can impact an organization's operations and decision-making. It helps organizations identify opportunities and threats in their external environment and adapt their strategies accordingly. The following are the steps involved in the process of environmental analysis:

1. Identification of Environmental Factors: The first step is to identify the key environmental factors that may have an impact on the organization. These factors can be categorized into various dimensions such as political, economic, social, technological, legal, and environmental (PESTLE analysis). Additionally, industry-specific factors and competitive forces should also be considered.

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