Problem
The external environment can be divided into six categories.
Looking at a South African sneaker brand; Drip Footwear, how can the external environment influence their businesses. Apply the six dimensions to the footwear brand.
A. Technological environment - how can technological developments in South Africa affect them. Are there any breakthrough technologies that can help them as a footwear company?
B. Economic Environment - how can low growth rates or global credit ratings agencies effect them. Global economic growth, inflation, global pandemic. How can this affect a footwear brand?
C. Social and cultural environment - social and cultural change, or the move to two-income households as example
D. Demographics - can certain demographic changes influence them
E. International environment - for example rapid development in the tech space and globalisation
F. Legal/government environment - how can regulations affect them.