3. Specific Environment
As you just learned, changes in any sector of the general environment (economic, technological, sociocultural, and political / legal) eventually affect most organizations. Each organization also has a specific environment that is unique to that firm's industry and directly affects the way it conducts day-to-day business.For instance, if your customers decide to use another product, your main competitor cuts prices 10 percent, your best supplier can't deliver raw materials, federal regulators mandate reductions in pollutants in your industry, or environmental groups accuse your company of selling unsafe products, the impact from the specific environment on your business is immediate.
Let's examine how the: 3.1 customer, 3.2 competitor, 3.3 supplier, 3.4 industry regulation, and 3.5 advocacy group components of the specific environment affect business.