External Environmental Scan
There are many elements that can go into an environmental scan, and your analysis will depend on the nature of your business unit, product portfolio, target market, and other factors related to the scope of your business. Be sure to cover the following:
• A thorough five forces analysis of your industry
• The key factors and trends in any other areas affecting your industry
• A preliminary classification of the external factors and trends as either opportunities or threats which will be the inputs for the final SWOT analysis.