Importance Of External Analysis In Development Strategy Of Organizations
Importance Of External Analysis In Development Strategy Of Organizations

Summary/Abstract: Strategic management is a series of activities undertaken by the organization in order to survive and develop in the increasingly demanding local and global markets. Organizations of all types and sizes are constantly faced with changes in the external environment, which causes the need for scanning and evaluating the proper opportunities and threats that organization faces in external environment. Top managers need to recognize the importance and necessity of external analysis in order to reach, through its application, the necessary information as the most important tool in market ‘warfare.’ Suitable external analysis is possible only if we include all relevant environmental factors (technological, economic, socio - psychological, demographic and political- institutional). Multidisciplinary strategic management is, at the same time, challenge and possibility for applying different methods and techniques in the process of analyzing the external environment of the organization. External analysis provides meaningful information and selection of appropriate strategies, resulting in improved business performance of the organization.

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