Workshop Title
The learner is expected to understand the political, economic, social environment in relation to business
The learner is expected to understand the political, economic, social environment in relation to business
- Duration: 3 hours
The learner is expected to understand the political, economic, social environment in relation to business.
The learner should be able to:
- understand the concept of macro environment
- describe environmental forces that affect organization’s ability to serve its customers
- explain how the environmental forces affect organization’s ability to serve its customers
- analyze macro environment through strategic analysis tools
- monitor macro environment through strategic analysis tools
This Workshop includes 3 activities. The first activity concerns macro and microenvironment in which a business operates, adapting to take advantage of emerging opportunities and to minimize potential threats. The second activity considers the influence of environmental factors on the organization’s performance. The third activities introduce the business analysis models that are useful tools and techniques that can help learners to understand and analyze business environment. Finally, there is a short online quiz that allows the self-assessment of the trainees.
This Workshop aims to familiarize the VET students with the macro and microenvironment that affect the company’s ability to serve its customers. The students will learn how to discover the stakeholders that affect the industry and identify which macro-environmental factors affect competitive strategies. The students will understand Porter’s 5 Forces framework to analyze the forces in the industry context. They will also learn how to conduct a PESTEL analysis to assess the impact of Political, Economic, Social, Technological, Environmental/physical, and Legal (PESTEL) factors on business.
Experiential workshops may entail a form of resistance by the participants as their active participation is required. Thus, if the participants are distant, a couple of ice breaking activities may be required. However, every experienced trainer knows how to deal worth such situations. Furthermore, some concepts presented may need more details for the participants to achieve the learning outcomes, which is why the partnership provides additional resources.
Step by step instructions for the preparation and implementation of the workshop
Step 1: Make a short description of the macro and microenvironment (PPT).
Step 2: Pass out to participants the exercise Worksheet (Attachment 0.2) and ask to explain environmental factors.
Step 3: Have a group discussion and connect the main covered issues with environmental forces.
Step 1: Explain the need of environmental scanning and monitoring (PPT).
Step 2: Divide the learners into 2 groups.
Step 3: The first group defends the thesis that environmental monitoring is too costly and is done only by large companies.
Step 4: Тhe second group defends the opposite thesis – monitoring is necessary for every organization, regardless of its size.
Step 5: Close with a discussion.
Step 1: Make a short presentation of Porter’s Five forces model and PESTEL analysis (PPT).
Step 2: Divide the learners into groups.
Step 3: Ask the student to use Porter’s Five Force Model to help understand forces in environment (Attachment 0.3).
Step 4: After 30 minutes, ask each group to present their analysis.
Step 5: Close with a discussion.
Resources
Training rooms, pens, paper, flipchart, colorful markers, sticky notes, projector