... Using the 5 Forces model, how would you describe the external environment relevant to PFO? There are two main segments of the external environment, i.e. the macro environment (the general environment) and the task environment (the industry environment). The figure below graphically explains this and its relationship to the firm. The common elements related to the marco environment analysis are demographic, sociocultural, political, legal, economics and technological. This paper will only concentrate on the task environments, which is related closely to the industry. In reference to the diagram above, the common elements in the task environment are competitors, suppliers, customers, substitute products and new entrants. PFO has to identify the industry it intent to compete in, to determine the relevant competition and customers the industry is sharing and competing for. The answer to this will have an important implication for the firm's strategies. Indications suggest that the definition is unclear, i.e. organic ...

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