External environmental audit in the company. Implementation and advantages of the PESTLE analysis

Essay from the year 2023 in the subject Business economics - Business Management, Corporate Governance, grade: 82%, , language: English, abstract: This essay discusses how to conduct external environment audit at a company. Kibaale Development Company has been used as a practical example on which the external environment audit has been conducted. The company is a body corporate located in Uganda. It continues to face external environment situations and forces related to; Politics, Economy, Societal, Technology, Legislative, and Environment as presented in the essay. However, the leadership of the company has a good adaption strategy to respond to changes arising from the external environment. This text is essential reading for executives and managers who want to develop a deep understanding of external conditions in order to shape forward-looking business strategies. It offers insights into how organisations structure their external environmental analyses and which key areas should be considered in order to successfully respond to ever-changing market conditions.