External environment factors and social trends need to be examined when conducting a situational analysis.

Question

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Examining external environment factors and social trends is crucial in conducting a comprehensive situational analysis. These factors can include economic conditions, technological advancements, cultural shifts, political factors, and demographic trends, among others. By understanding these external forces, organizations can identify both opportunities and threats that may impact their business operations and adjust their strategies accordingly.

External Environment Factors and Social Trends Need to Be Examined