1) Key source of environmental information
? Industry periodicals and general news sources
? Analyst reports available on business databases
? Interviews with industry experts
? Annual reports of existing companies that disclose environmental factors in the Management Discussion & Analysis of risks and assumptions.
2) Key environmental variables
a. Economic: At the macro- and micro- levels, what is the economic environment that will impact your customers and your suppliers? What factors in the economic environment will directly impact your costs and revenue potential?
b. Technological: What old technologies are being used? What new technologies are emerging? Do they help you pursue your business goals, or do they compete with your product or service?
c. Political-Legal: Will you face any restrictive regulations, or a political-legal environment that offers benefits?
d. Sociocultural: What demographic and social trends affect your main customer base or related markets? Will they cause the market to expand or shrink? Are attitudes shifting in favor of your product? Are they shifting against a competitor?
Economic Technological Political-Legal Sociocultural
GDP Trends Total government Antitrust regulations Lifestyle changes
Interest rates &nb ...