It should cover present and possible future scenarios, and apply to the industry and areas of the world in which the business operates. It can also highlight the potential for additional costs, and prompt further research to be built into future plans. Pandemics and other emergencies.īy analysing those factors, organisations can assess any risks specific to their industry and organisation, and make informed decisions. Environmental: Global warming and the increased need to switch to sustainable resources ethical sourcing (both locally and nationally), including supply chain intelligence.Legal: Changes to legislation impacting employment, access to materials, quotas, resources, imports/exports, and taxation.How will this affect the organisation’s products or services? Technological: New technologies are continually emerging (for example, in the fields of robotics and artificial intelligence), and the rate of change itself is increasing.Sociological: Cultural norms and expectations health consciousness population growth rates age distribution career attitudes health and safety.Economic: Economic growth/decline interest, exchange, inflation and wage rates minimum wage working hours unemployment (local and national) credit availability cost of living.Political: Tax policy environmental regulations trade restrictions and reform tariffs political stability.It audits six external influences on an organisation: It is a broad fact-finding activity around the external factors that could affect an organisation’s decisions, helping it to maximise opportunities and minimise threats.