Macroenvironmental analysis for strategic management

UK Macro-Algae Biofuels: A Strategic Management Review and Future Research Agenda

“…This work has initiated an initial scan of the macro-environmental factors and as development happens continual monitoring and future forecasting of the various macro-environmental factors must take place to ensure continued competitive advantage [26]. However, it has been difficult to disentangle the various PESTEL elements and each in turn may have a knock-on effect on each other so any future research must examine all elements for all stakeholders to further understand this complex web of perceptions and requirements.…”

“…Environmental scanning is the first step in the development of strategy and provides vital information for objective setting, resource allocation and systematic strategic planning [25][26][27]. The review highlights that due to the relative technological infancy of the macro-algae biofuel industry and a lack of understanding of many of the issues which are relevant, the environmental scan has many informational gaps which will need to be filled.…”

“…To gain a broad picture beyond technological aspects the paper will follow from the tradition of macro-environmental scanning [25]. Environmental scanning developed as it was suggested that any organizational or industry success is based on how well they respond to macro social, economic, technological or political/regulatory changes [26]. Scanning of the macro-environment allows organisations to identify issues most likely to impact them so they can be prepared to cope with any issues or opportunities as they arise [26].…”

“…Environmental scanning developed as it was suggested that any organizational or industry success is based on how well they respond to macro social, economic, technological or political/regulatory changes [26]. Scanning of the macro-environment allows organisations to identify issues most likely to impact them so they can be prepared to cope with any issues or opportunities as they arise [26]. A macro-environmental scan should be systematic and proactively examine emerging threats and opportunities as they arise [25,26].…”

“…Scanning of the macro-environment allows organisations to identify issues most likely to impact them so they can be prepared to cope with any issues or opportunities as they arise [26]. A macro-environmental scan should be systematic and proactively examine emerging threats and opportunities as they arise [25,26]. It is the first step in any strategic planning and is vital in emerging industries [27].…”