In this assignment, you will write a short paper (2,000 words or less) which presents the results of a Macro-environment Scan (STEP-C Analysis), as discussed in Unit 2. Macro-environmental Scans help entrepreneurs and small business owners look ahead for risks, changes, trends, and competitive changes that may impact their businesses, positively and negatively. You are tasked with analyzing social, technological, economic, political and competitive factors and trends that would impact your own small business, or small business known to you. You will be conducting research on the internet or through other sources to analyze trends, and will present a short paper to address the STEP-C Analysis.
In this paper, you will be researching key trends that may impact your business, or a business familiar to you – social, economic, technological, political, and competitive discussed in Unit 2. Please follow the assignment description closely. You could consider creating a table (or matrix) and presenting your work that way, instead of writing paragraphs, for example:
|
Social Trend 1 |
Description |
Opportunity or Threat, why? |
|
Social Trend 2 |
Description |
Opportunity or Threat, why? |
|
Social Trend 3, etc. |
Description |
Opportunity or Threat, why? |
Your STEP-C macro-environmental scan should include all of the following elements:
- A brief description of the small business for which the scan is being prepared
- A brief description of the ideal (target) customer segment for this business
- Social trends that might impact this business (identify at least 3)
- Technological trends that might impact this business (identify at least 3)
- Economic trends that might impact this business (identify at least 3)
- Political trends that might impact this business (identify at least 3)
- Competitive trends that might impact this business (identify at least 3)
- A preliminary classification of these trends as either opportunities or threats
- Supporting evidence of these trends in the references section
- Summarize the analysis – conclude something about these forces and how they will drive change for the business. How should you (or the business owner) respond to these changes?
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