1. This has a direct impact on the usefulness of the secondary data to one’s own research. Descriptive research grants the researcher to develop questions to study further. Risk management should not be regarded as non-essential cost to be cut in the difficult times. Lack of Forewarning of Unforeseen Events, 2. By creating an environment where free trade encouragement readily exists, more innovation, creativity, and engagement would occur at every level of society. (adsbygoogle = window.adsbygoogle || []).push({}); Advantages and Disadvantages of Business Environment Analysis, Limitations or Disadvantages of Environment Analysis, 1. Lisk (1985) contends that the real impact of participation can be achieved in the planning system. The goal of these methods is one of taking socio-economic and the bio-physical environmental factors into thought which in the process of development is a tool of cost benefit analysis and risk assessment (saidi, 2010). Reliable and repeatable. • One risk associated with secondary data is the fact that its accuracy is sometimes not assured no matter how good the quality of the source. EIA’s raise awareness to the affected areas as well as that of the developers and the administrative. Transparent. Formulation of business policies and strategies should be based on a careful business environmental analysis. They believe in creating sustainable solutions to enrich their stakeholder by generating values apart from innovating new product and services to improve quality of life and performance. Alternatives put forward tend to be unrealistic in order to favour the option the applicant wants to implement. Identification of Threats; 3. Advantages And Disadvantages Of Environmental Impact Assessment. Sometimes, managers place uncritical faith in the data without thinking about the data’s verifiability or accuracy. IT sector plays an enormous role in implementation of techniques which ensure sustainability in operations. Bedford Square In short EIA’s are there to make sure standards are met when protecting the environment as well as not deliberately destroy the environment. Regulations set by the IEM and EIA are necessary to ensure planners and designers consider all alternatives when working on a project. Mathur (1986) argues that the essence of participation is primarily to develop the potential of people to make informed development decision and actions. In the … nibusinessinfo.co.uk, a free service offered by Invest Northern Ireland, is the official online channel for business advice and guidance in Northern Ireland. July 2, 2013 @ 11:21 pm. But in practice, it is not so. Hence business environment analysis helps to forecast the future prospects of the business concern. This essay will be divided into four sections. Changes in the environment are often frequent and all of a sudden. Understandable Figure 3: Communication barriers (Gwyn Teatro, 2011) They may be positive or negative; but because they are unexpected there are unlikely to be mitigation measures in place to deal with them (Lawrence, 2003). Business Environmental diagnosis helps the businessmen in two ways. Lack of Forewarning of Unforeseen Events; 2. This will enable him to take proper preventive measures. No Assurance as to Organization Effectiveness, Understanding Business Environment | Nature | Features, Contents of a Good Salesmen Training Programme, Factors Influencing Salesmen Remuneration Plan, Step-by-step approach for starting a new venture, Straight Commission Method of Remuneration | Features | Merits | Demerits, Weaknesses of Trade Union Movement in India and Suggestion to Strengthen, Audit Planning & Developing an Active Audit Plan – Considerations, Advantages, Good and evil effects of Inflation on Economy, Vouching of Cash Receipts | General Guidelines to Auditors, Audit of Clubs, Hotels & Cinemas in India | Guidelines to Auditors, Depreciation – Meaning, Characteristics, Causes, Objectives, Factors Affecting Depreciation Calculation, Inequality of Income – Causes, Evils or Consequences, Accountlearning | Contents for Management Studies |. However, balancing the needs of current generations without compromising the environment for future generations poses to be quite problematic. Conyers (1986) accounts that proper evaluation of community needs, conditions and attitudes are critical to the success or failure of development projects and programmes and this can be properly achieved through participation. Promoting environmentally friend and cost effective ways Normally, people place too much reliance on the information collected through environmental scanning. They paved the way for the development of suburbs and allowed vacationers to travel from coast to coast.

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