Running head: APPLY: INTERNAL AND EXTERNAL ENVIRONMENTAL ANALYSIS 1 APPLY: INTERNAL AND EXTERNAL ENVIRONMENTAL ANALYSIS Apply: Internal and External Environmental Analysis SWOT Summarizing Table Internal Factors External Factors 1. Strengths 1. Opportunities ➢ Established ready market ➢ Investment on online ads ➢ Training and development ➢Increased rate of spending in the economy investment ➢ Low Inflation rate ➢ Market Expertise 2. Weaknesses 3. Threats ➢ Loss of Competitive ➢ Increased competition Advantage ➢ Change of customer’s taste and ➢ Merging of firms with a preference distinct culture ➢ Lack of product positioning 4. Trends ➢ Technological Changes in Print Media ➢ Changing governmental media policies 2 APPLY: INTERNAL AND EXTERNAL ENVIRONMENTAL ANALYSIS 3 Economic, Legal, and Regulatory Forces and Trends Hoosier Media Inc. was founded in the year 2011, and it is located in Burnettsville at 600 S Main. The estimated revenue for the company is 43,000 Million dollars. In the few past years, the company has experienced a tremendous drop in the circulation of the print newspaper which has lowered the revenues by 30 percent. However, the corporation has recorded a growth in online revenues by 5 percent of the entire revenues. Political factors are the first consideration which is concerned with national stability. The government is responsible for enacting laws through the parliament, creating tax policies as well as environmental legislation. The government may create media laws that may adversely or positively affect Hoosier Media Group Inc. Secondly are the economic factors may impact the advertising markets, and the government might reduce its annual budget because of the financial crisis. The recession of the economy causes the government to come up with laws that impact Hoosier Media Inc. negatively since the financial strain will also be felt by their clients, who in turn have a reduced purchasing power (Rothaermel, 2015). Critique How Well the Organization Adapts to Change The Hoosier Media Group Inc. has been able to adapt to the current changes in the economic world by creating and developing internal strengths. This enables the company to adjust to the potential threats that economic crises pose by becoming more competitive and gaining the competitive advantage. The organization also responds to the legal and regulatory factors by ensuring they obey and submit the government rules. Going against the obligations set APPLY: INTERNAL AND EXTERNAL ENVIRONMENTAL ANALYSIS 4 by the government can result in the closure of the company. The organization can be said that it is not well positioned to handle changes since over the years it is still struggling to come up with strategies that will enable it to come up with solutions. The organization cannot be said to adapt to change which means that the internal structure of Hoosier Media needs to restructure to be able to accommodate future changes in the future. The business is facing a lot of rivalry from other media organizations, and the fact that it cannot find and has not found the best competitive strategies to overcome the threat (Rothaermel, 2015). The Primary Internal Organizational Considerations Hoosier Media has several primary considerations that the company can put into play to foster its growth and increase its revenues. The considerations evolve around the SWOT analysis, but for the internal factors, the strength and weaknesses are the primary considerations. The first is the Strength of the company which is the skilled employees since the company has invested training and development programs (Wheelen, Hunger, Hoffman & Bamford, 2017). The company is also known to have high performance and expertise in the market. The company, as much as it has been running low on revenues has not gone bankrupt. This means it has the ability to expand by using the steady flow of cash. The company can use these strengths to outgrow its challenges and improve its corporate culture and financial capabilities. The second consideration should be Hoosier's weaknesses. The major weakness is the loss of competitive advantage which means the company should aim at strategic positioning which will build its competitive advantage. The second weakness is the APPLY: INTERNAL AND EXTERNAL ENVIRONMENTAL ANALYSIS 5 constant merging of firms that have a distinct culture. The corporation also lacks a clear product positioning which has led to increased competitive power from other media companies. Making the right considerations concerning the weaknesses will enable the company to rise against the challenges (Wheelen, Hunger, Hoffman & Bamford, 2017). The Primary External Organizational Considerations The external considerations focus on the opportunities and threats that Hoosier Media Inc. faces. The most significant opportunity it has is the growing customer base through online platforms. The organization has significantly invested in selling their products online which has made it register a profit of 5 percent. This opportunity has created new channels for sales, and the company can grow the opportunities by understanding the customer needs and preferences so as to meet their needs. The second opportunity is the increased spending rate in the economy which is an opportunity for increased sales, especially for new customers. There is also a low rate of inflation which improves the market stability and little interest on credit. This will also boost the customer base. The other consideration is the target market. This means that Hoosier is supposed to know its customer's taste and preferences and understand the tastes keep changing. This will mean that the organization will come up with more segments, those better than their competitors, to cater to the needs of the society. It should come up with strategies that ensure the elderly, children, the youth, men, and women are satisfied. The company also needs to relate to the APPLY: INTERNAL AND EXTERNAL ENVIRONMENTAL ANALYSIS changing technology in the media industry as well as creating the best distribution, circulation, and subscription strategies. The Issue and/or Opportunities that Hoosier Face The biggest issue that is faced by Hoosier Media is the decrease in print newspaper circulation as well as a decline in subscriptions. This has led to a reduction of the total revenue by 30 percent in the last five years. This needs the company to identify the changing technology in media production, how they can strategize to increase newspaper circulation. The most significant opportunity for the media group is the increased online ad revenues which have brought 5 percent revenue. If the company adds more investment in online ads, it will increase the revenues by a significant margin. The online ads should enlighten the company to approach the serving of customers differently because it is clear many customers have migrated to the electronic platforms (Wheelen, Hunger, Hoffman & Bamford, 2017). 6 APPLY: INTERNAL AND EXTERNAL ENVIRONMENTAL ANALYSIS 7 References Rothaermel, F. T. (2015). Strategic management. McGraw-Hill Education. Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2017). Strategic management and business policy. pearson. 
Purchase answer to see full attachment