Question

Assignment is based on, ConocoPhillips, an energy related company.

Analyze the company based on analytical tools learned in chapters relating to this module.

What are the external environmental factors affecting the company and industry?

How do the 5 forces affect this company?

Explain the possibility of a merger, acquisition, being acquired.

Include a BCG analysis in your company analized

Answer 1

I am answering the question "What are the external environmental factors affecting the company and industry?"

External business environment significantly affect the operation and fucntioning of the organization. External business environment also determines the efficiency and effectiveness as well as performance and producitivity of the organization. There are several factors in the external business environment that should be identified and analyzed by the organization and the industry in order to design and develop strategies to mitigate or reduce thier impact on the organization. Some of the key factors are political factors, economic factors, social factors, technological factors, environmental factors, and legal factors. ConocoPhilllips should focus on the above-mentioned factors in order to maintain its efficiency and effectiveness along with performance and productivity of the organization. The political condition of the country is stable that is favorable for ConocoPhillips. The rate of crime and corruption is also low that also benefit the organization to grow and develop. ConocoPhillips is operating in one of the largest economies in the world. The economic factors are also supportive. However, economic slow down in the country can negatively affect the organization. Many people have been unemployed recently that had reduced the income level. Reduction in income level can also reduce expenditure on good and services. Social factors are also favorable for the company. The United States of America is the third largest country in terms of population. People are well-educated and aware of the environmental impact of the action and activity of the organization. Thus, the organization needs to be careful while executing its functions. In terms of technology, the organization can avail the benefits of most advanced technology as America is the most advanced country in terms of technology. The country has extreme diverse geography and climate. Environmental concern is one of the most significant concerns in the country. Thus, the organization should takecare of its actions and activities. Legal factors are also favorable because rules and regulations are not so complex in the country. The government is also promoting businesses in the country.