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Question
Environmental analysis is required by every firm to determine the opportunities and threats in an organisation. What is required to process and analyse the so obtained data?
Options
Quantitative analysis
Qualitative analysis
PESTEL analysis
Both Quantitative and Qualitative analysis
Solution
Both Quantitative and Qualitative analysis
Explanation:
A strategic technique for identifying and evaluating the internal and external components of a corporate environment is an environmental analysis, often known as an environmental scan. It looks at organisational and sectoral elements that could either help or hurt the company. The organisation can quickly react to repercussions when they materialise by foreseeing their short- and long-term effects. Processing and analysing the data obtained in this manner requires both quantitative and qualitative analysis.
