Problem:
The vice president of my company, Funder Mifflin, Inc., has contacted me regarding the new social networking website. He wants me to prepare for a big presentation. For this, I will have to understand the importance of examining the external environments of an industry. He also explained that the job requires me to prepare a memo for him on macrolevel factors in an external environment and how they could have (or already have) impacted the structure of the online social networking industry in the global marketplace. Explain the connection between the macrolevel factors and political, economic, social and technological origins. How could each (political, economic, social and/or technological) origin mold the industry in the future? Evaluate Porter's 5 forces of competition and discuss and explain how macrolevel factors could change the specific aspects of Porter's forces of competition.
Lastly, give an opinion of the macrolevel factors that impact the structure of the online social networking industry the most.