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Contents
1 Introduction ............................................................................................................................. 3
1.1 Overview of the company ................................................................................................ 3
2 Macro environment.................................................................................................................. 5
2.1 PESTEL Analysis............................................................................................................. 5
2.1.1 Political environment ................................................................................................ 5
2.1.2 Economic environment ............................................................................................. 6
2.1.3 Social environment ................................................................................................... 7
2.1.4 Technological environment ...................................................................................... 8
2.1.5 Ecological environment ............................................................................................ 9
2.1.6 Legal environment .................................................................................................. 10
3 Analyzing the internal and external environment of the business to identify its strengths and
weaknesses .................................................................................................................................... 12
3.1 SWOT analyzing ............................................................................................................ 12
3.1.1 S- Strengths ............................................................................................................. 12
3.1.2 Weaknesses ............................................................................................................. 13
3.1.3 Opportunities........................................................................................................... 14
3.1.4 Threats..................................................................................................................... 15
4 References ............................................................................................................................. 17

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1 Introduction

The environment comprises external elements that are considerable, if not entirely, outside the
control of the individual industrial firm and its management. These are basically the 'givers' within
which enterprises and their management must function in a certain nation, and they vary widely,
often dramatically, from one country to the next. (Richman and Copen, n.d).

“The environment encompasses external elements that might contribute to opportunities or dangers
to the company. Although there are several variables, the socioeconomic, supplier, competitors,
technology, and government sectors are the most essential.” (Gluck and Jaugh n.d, Chand.s, n.d.).

The sum or gathering of all micro and macro environment such as employees, customers' needs
and expectations, market forces, management, clients, suppliers, owners, government activities,
technological innovation, social trends, market trends, economic changes, and so on is defined as
the business environment. These elements have an impact on the company's function and how it
operates, either directly or indirectly. Some of these elements have an impact on the environment
and situation of businesses or corporations. (Toppr-guides, 2018).

This report is provided influence of the internal and external environment on business operations.
Firstly, the author starts with the introduction. Secondly, the author will describe the impact of
macro environment on business operations. Thirdly, the author will explain analyzing the internal
and externel environment of the business to identify its strengths and weaknesses. The fourthly is
interrelationship of strengths and weaknesses with the external macro factors. Whereas in fifthly
author discuses critical analysis of the impact of macro and micro factors upon business objectives
and how they influence decision making.and the author presents the conclusion in finally.

1.1 Overview of the company

Damro is one of the world's leading furniture makers, producing a wide range of modern and
classic pieces. Damro was founded in 1986 and has quickly grown to over 241 showrooms
worldwide, with 174 showrooms presently located around the island. Damro Group is South Asia's
top furniture retailer, and it is expanding rapidly by establishing 50,000 square foot giant stores.
Damro's success stems from its ability to make high-quality furniture at reasonable rates while
providing excellent customer service. (Damro, 2019).

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2 Macro environment

A macro environment is the collection of conditions that prevail in the economy as a whole, as
opposed to a specific sector or location. The macro environment, in general, encompasses
developments in GDP, inflation, employment, expenditure, and monetary and fiscal policy. the
key uncontrolled external elements (economic, demographic, technical, environmental, social and
cultural, legal, and political) that influence a firm's decision-making and affect its performance. In
contrast to the success of a single business sector, the macro-environment is intimately tied to the
general business cycle. (Monash Business School, 2018).

2.1 PESTEL Analysis

2.1.1 Political environment

The political environment in which businesses operate is continually constraining. Laws and
governments typically dictate how a company may operate and even which markets it can serve.
Political difficulties have a big influence when a firm wants to enter a new market, particularly
one in a faraway country. The company must understand the rules and regulations that govern both
the industry in which it operates and any unique constraints that may apply to it. It might influence
whether the company enters the new market at all. It's also important to keep up with new
legislation that's in the works or has been suggested for passage. (Oxford College of marketing, no
date). Political factors include tax policy, environmental legislation, trade restrictions and reform,
tariffs, and political stability. These aspects describe the extent to which a government can
influence an industry or a corporation. For example, the government may implement new tax
regulations that affect the whole revenue-generating structure of a corporation. (Pathak 2020).

Political issues include the extent of government engagement, which includes the government's
stability or volatility, international trade rules, trade tariffs, social welfare, corporate profits, and
tax policies. Political variables are important in evaluating the aspects that might affect Damro
Furniture Company's long-term profitability in a certain nation or market. Damro Furniture
Company operates in the Home Furnishings & Fixtures industry in over a dozen countries,
exposing itself to various sorts of political environment and political system risks. To be successful
in such a dynamic Home Furnishings & Fixtures market across several nations, it is necessary to

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diversify the systemic risks of the political climate. Damro Furniture Company should carefully
consider the following considerations before joining or investing in a certain market. (Studylib,
2016).

Political stability and the significance of the Home Furnishings & Fixtures industry to the country's
economy Military invasion is a possibility. Levels of corruption, particularly in the Consumer
Goods industry. Government bureaucracy and intervention in the Home Furnishings & Fixtures
industry Contract enforcement legal framework Protection of intellectual property. Consumer
Goods trade restrictions and tariffs Favored business partners Antitrust laws pertaining to Home
Furnishings and Fixtures Pricing control - Is there a pricing control system in place for consumer
goods? Taxation includes both tax rates and incentives. Minimum wage and overtime regulations
Workweek rules in Home Furnishings & Fixtures Employee perks are required. Regulations for
industrial safety in the Consumer Goods industry. Home Furnishings & Fixtures product labeling
and other requirements. (Studylib, 2016).

2.1.2 Economic environment

The economic climate can have an impact on both the organization's output and the customer's
decision-making process. Consumer purchasing decisions are heavily influenced by demand-
supply, inflation, interest rates, taxes, currency rates, and recession. All companies are affected by
the state of the national and global economies. The growing interdependence of many country
economies has made analyzing economic issues in a firm's macroenvironment more difficult.
Firms utilize economic data to decide whether to join or exit geographic markets, expand, or recruit
or lay off employees. As previously indicated in this chapter, employment rates have an impact on
the quantity, quality, and cost of workers available to businesses. (Business, 2021).

Interest rates affect sales of large-ticket items that buyers often finance, such as appliances,
vehicles, and homes. Interest rates also have an impact on the cost of financing for companies
trying to grow. Exchange rates present both risks and opportunities for all cross-border
organizations, and the price of oil affects a wide range of industries, from airlines and
transportation companies to solar panel makers and plastic recycling operations. Again, any
occurrence might be a threat to one organization and an opportunity for another, so economic
forces should not be assumed to be intrinsically good or bad. (O’Donnell, 1994).

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The aggregate demand and aggregate investment in an economy are determined by
macroenvironmental factors such as the inflation rate, savings rate, interest rate, foreign exchange
rate, and economic cycle. While microenvironmental variables such as competition norms have an
influence on the firm's competitive edge. Damro Furniture Company can forecast the growth
trajectory of not only the —sector name— sector but also the organization by using country
economic factors such as growth rate, inflation, and industry economic indicators such as Home
Furnishings & Fixtures industry growth rate, consumer spending, and so on. Damro Furniture
Company should examine the following economic considerations while doing a PESTEL analysis:
(Jessica, 2013).

Form of economic system in operation nations - what type of economic system exists and how
stable it is. Intervention by the government in the free market and associated Consumer Goods
Exchange rates and the stability of the host country's currency Financial market efficiency - Does
Damro Furniture Company, Inc. need to raise funds in the local market? Quality infrastructure in
the Home Furnishings & Fixtures business. Comparative advantages of the host country and the
Consumer Goods sector in that nation Workforce skill level in the Home Furnishings & Fixtures
business. The degree of education in the economy. Labor costs and economic productivity Stage
of the business cycle (for example, prosperity, recession, or recovery). Rate of economic growth
Income from discretionary sources. The rate of unemployment. The rate of inflation. Rates of
interest. (Jessica, 2013).

2.1.3 Social environment

The emphasis is on identifying new patterns in the social environment. This helps a marketer
comprehend customer expectations and wishes in a social setting. Factors include changes in
family demographics, education levels, cultural trends, attitude shifts, and lifestyle changes. This
component of the general environment represents the demographic qualities, norms, habits, and
values of the population in which the organisation operates. Population trends include the
population growth rate, age distribution, income distribution, career attitudes, safety emphasis,
health consciousness, lifestyle attitudes, and cultural barriers. These factors are critical for
marketers when targeting certain clientele. It also offers information about the local labour force
and its willingness to work under specified conditions. (Pathak 2020).

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Sri Lanka currently has a population of 21,413,249 people. Sri Lanka's broad socio-cultural
foundations include the majority of Sinhalese Buddhists (about 74 percent of the population), the
Tamil community, the bulk of whom are Hindus (18 percent), and multiethnic Christian
communities (8). (7 percent). Religious ideology and socioeconomic issues are present in each of
these groupings. Regional subcultures such as the Sinhalese highlands, more urbanized mixed
social groupings along the coast, and Indian Tamils in plantations are expanding. (Perera 2022).

The culture and method of doing things in society have an influence on the culture of an
organization in an environment. The population's shared views and attitudes play a significant part
in how Damro Furniture Company marketers identify the clients of a given market and build the
marketing message for Home Furnishings & Fixtures sector consumers. Damro Furniture
Company's leadership should examine the following social elements for PESTEL analysis:
Population demographics and skill level in society, there is a class structure, a hierarchy, and a
power structure. Damro Furniture Company's education level as well as education standard Culture
(gender roles, social conventions, etc.). The entrepreneurial spirit and the larger character of
society Some civilizations promote entrepreneurship, while others do not. Attitudes (health,
environmental consciousness, etc.). Interests in leisure. (Ashoka, 2021).

2.1.4 Technological environment

Technical factors include the rate of technological innovation and development that may affect a
market or business. Changes in digital or mobile technology, automation, and research and
development might all be contributors. It is tempting to focus just on digital technical
advancements, but new distribution, manufacturing, and logistical techniques must also be
addressed. Successful technology is adopted much more quickly than earlier generations. In just
four years, the Internet attracted fifty million users. Television achieved the same number of
customers in 13 years, whereas radio took 38 years. This development opens up a slew of
possibilities for organizations that rely on cutting-edge technology. (Edwards, 2014).

These technical factors have an impact on the operations of a company. If a company fails to keep
up with the trend, it may lose market share. The following are technological aspects to consider.
The organization's access to technology, the rate of technological advancement and development,
Innovation in digital and mobile technologies, Trends in automation, Market technology

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accessibility, Cybercrime trends, and cyber security tools Innovative research and development,
as well as infrastructural evolution Organizations, may be built using current technology by
focusing on these components. (Nasrudin, 2020).

The population of Sri Lanka has a comparatively high literacy rate of 92 percent. However, at 27.5
percent, the rate of computer literacy is low. Meanwhile, the World Economic Forum's Future
Production Report identifies Sri Lanka as a young economy with significant gaps. Technology and
innovation, economic complexity, technology and innovation, and global commerce and
investment are all experiencing substantial setbacks. (Daily FT 2019).

Damro Furniture Company's facility features modern machinery and technology, which will
benefit their production level and help to lower manufacturing costs. However, technology is
always evolving, and the introduction of new technology brings with it new problems for survival
in a competitive market. Due to the country's present power crisis, full capacity utilization of
existing machinery may not be achievable. (Studylib, 2016).

A company should do a technological study of the business as well as the rate at which technology
disrupts that sector. Slower speeds provide more time, yet faster speeds of technology disruption
may provide a corporation with limited time to adapt and remain profitable. Technology study
entails comprehending the following effects: recent technical advancements by Damro Furniture
Company, and the impact of technology on the product offering. The impact on the cost structure
of the Home Furnishings and Fixtures business. The effect on the value chain structure in the
Consumer Goods industry. Technological diffusion rate. (Devsaran, 2018).

2.1.5 Ecological environment

Environmental considerations evolved as a natural complement to the original PEST framework

as the business world grew to recognize that changes in our physical environment may offer
material threats and opportunities for enterprises. These issues have just recently come to the fore
in the last fifteen years or so. They have become increasingly important as a result of the growing
scarcity of raw resources, pollution targets, operating as a moral and sustainable firm, and carbon
footprint targets established by using governments. These are just a few of the issues that business
owners face in this situation. Customers are increasingly expecting that the things they buy be
supplied ethically and from a sustainable source. (Corporate Finance Institute, 2022).

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There has been demand from the government and community in Sri Lanka and other nations to
rescue the environment from pollution. Damro Furniture Company must be cautious about
pollution caused by their facility. This sort of enterprise should not be positioned near homes.
Damro Furniture should think about relocating its present plant from the residential neighborhood.
Before entering new markets or launching a new business in an existing market, a company should
carefully consider the environmental criteria that are necessary to operate in those areas. Some of
the environmental considerations that a company should think about ahead of time are: Weather.
Changes in the climate. Environmental pollution legislation. Regulations on air and water pollution
in Home Furnishings & Fixtures recycling industry Waste Management in the Consumer Goods
Industry Attitudes toward "green" or environmentally friendly items. Threatened species Attitudes
and support for renewable energy sources. (Fern Fort University, 2022).

2.1.6 Legal environment

Legal variables are those that originate from changes in the regulatory environment and have an
impact on the whole economy, specific industries, or even individual enterprises within a sector.
Legal issues include health and safety, equal opportunities, advertising standards, consumer rights
and regulations, product labelling, and product safety. Obviously, in order for a transaction to be
effective, businesses must grasp what is and is not lawful. When a corporation does business on a
global scale, each nation has its own set of rules and regulations, making it a particularly tough
industry to master. (Corporate Finance Institute, 2022).

The performance of the furniture sector is directly influenced by various government legislations
and regulations. For example, changed tax and VAT policies, as well as increased duties on
imported raw materials, may have an impact on the sector. In a number of nations, the legal
structure and institutions are insufficient to protect an organization's intellectual property rights.
Before entering such markets, a company should carefully consider its options because it might
result in the theft of the organization's secret sauce and hence its overall competitive advantage.
Damro Furniture Company's leadership should examine the following legal concerns when
entering a new market: anti-trust law in the Home Furnishings & Fixtures industry and in the
country as a whole. Discrimination legislation. Patents, copyright, and intellectual property law.

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E-commerce and consumer protection. Employment legislation. Health and safety regulations.
Data security. (Lawdonut, 2018)

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3 Analyzing the internal and external environment of the business to identify its
strengths and weaknesses

3.1 SWOT analyzing

3.1.1 S- Strengths

In this analysis, stands for power. The talents and resources of the firm that allow it to produce
economic value and competitive advantage are referred to as its strength. A company's strengths
might be any number of areas or features in which it excels and has a competitive edge over its
competitors. Advantages might be qualitative in nature and hence difficult to quantify (such as
great company culture, high brand awareness, proprietary technology, and so on), or quantifiable
(like best-in-class margins, above-average inventory turnover, category-leading return on equity,
etc.). (Schooley, 2019).

Damro Furniture Company, being one of the best organizations in its field, possesses a number of
assets that enable it to succeed in the marketplace. These advantages not only help it to maintain
its market share in existing markets but also to enter new ones. (Mcmahon, 2017).

Trustworthy suppliers - The firm has a solid base of reliable raw material suppliers, allowing it to
overcome any supply chain bottlenecks.
A proven track record of successfully merging complementary enterprises through mergers and
acquisitions. In recent years, it has effectively combined a number of technology businesses in
order to simplify its operations and develop a stable supply chain.
High level of customer satisfaction - the firm has achieved a high level of customer satisfaction
among current customers and strong brand equity among future consumers thanks to its specialized
customer relationship management department.
Excellent Free Cash Flow - Stanley Furniture Firm, Inc. has strong free cash flows, which give the
company with resources to develop into new initiatives.
Good Returns on Capital Expenditure - Damro Furniture Company is generally effective at project
execution and has created good returns on capital expenditure by establishing new income streams.
Excellent Performance in New Markets - Damro Furniture Company has developed competence
in entering and succeeding in new markets. The growth has enabled the company to create a new
income stream and diversify the economic cycle risk in the markets in which it operates.
Product innovation requires a proven track record of developing new goods. (Mcmahon, 2017).

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3.1.2 Weaknesses

stands for the company's weakness A company's weakness is defined as a lack of resources or
competencies that prevents it from delivering economic value or acquiring a competitive
advantage. Weaknesses are areas or features that put a company at a competitive disadvantage in
comparison to its competitors. These, like strengths, might be more qualitative or quantitative.
Inexperienced management, significant personnel turnover, poor (or deteriorating) margins, and a
high (or excessive) reliance on debt as a funding source are all examples. (WordStream, 2022).

Damro Furniture Company's weakness is an area where it can improve. Strategy is about making
decisions, and weaknesses are places where a corporation may use SWOT analysis to strengthen
its competitive advantage and strategic posture. (Furniture Today, 2022).

The high turnover rate in the workforce - compared to other companies in the industry, Damro
Furniture Company has a higher attrition rate and must spend significantly more on staff training
and development than its competitors.

Outside of the primary business, there has been limited success. Despite being one of the premier
companies in its sector, Damro Furniture Company has had hurdles in expanding into new product
areas with its current culture.

Damro Furniture Company's profitability ratio and net contribution are lower than the industry
average.

There are gaps in the company's product line. This lack of options may allow a new rival to get a
foothold in the market.

In comparison to its competitors, it is not particularly adept at estimating product demand, resulting
in a greater proportion of missed chances. Damro Furniture Company is not particularly excellent
at demand forecasting and hence ends up retaining larger inventory both in-house and in the
channel, which is one of the reasons why the day's inventory is high compared to its competitors.

The product promotion leaves a lot to be desired. Even if the product is a sales success, its
positioning and unique selling proposition are not well defined, which might lead to rival attacks
in this area. (Furniture Today, 2022).

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3.1.3 Opportunities

The letter o stands for opportunity. Opportunities imply obtaining possibilities to enhance the
firm's weaknesses and performance, which aids in the creation of economic value for the
organization. The "Opportunities" section should emphasize external elements that provide
possible possibilities for corporate development or improvement. Consider opportunities such as
an expanding total addressable market (TAM), technical improvements that may increase
efficiency or changes in societal norms that are establishing new markets or new sub-segments of
current markets. (Corporate Finance Institute, 2022).

Lowering the cost of transportation due to decreased shipping rates can also lower the cost of
Damro Furniture Firm's products, creating a chance for the company to either increase its
profitability or pass on the savings to consumers in order to win market share.

Damro Furniture Company may use the new technologies to implement a differentiated pricing
strategy in the new market. It will allow the company to retain its existing consumers by providing
excellent service while also attracting new customers through various value-added offerings.

Opening of new markets as a result of government agreement - Damro Furniture Company has
been given the chance to join a new emerging market as a result of the adoption of new
technological standards and a government free trade agreement.

New environmental policies - The new opportunities will level the playing field for all industrial
participants. Damro Furniture Company will have a tremendous potential to capitalize on its
advantage in new technology and earn a market share in the new product category.

The new taxation policy will have a substantial influence on how businesses operate and will
provide new chances for established players such as Damro Furniture Company to boost their
profitability.

After years of recession and poor development in the sector, the economic rebound and increase
in consumer spending provide a chance for Damro Furniture Company to gain new customers and
improve its market share. (The Case Centre, 2014).

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3.1.4 Threats

The letter T stands for threats. Threat refers to those factors whose goal is to lower a company's
performance as well as its economic worth. Individuals, groups, and governments are examples of
these forces. Threats are external influences that pose dangers to a company's capacity to function.
The categories are similar to the "Opportunities" section but in the opposite direction. Consider an
industry in decline (which corresponds to a falling TAM), technology innovation that might disrupt
the present firm and its operations, or changing societal standards that make existing product offers
less appealing to a rising number of customers. (WordStream, 2022).

In the medium to long term, new technologies produced by a rival or market disruptor might pose
a severe danger to the sector.

Growing local distributor strengths pose a challenge in some areas since competition pays larger
margins to local distributors.

Counterfeit and low-quality product imitation is also a challenge to Damro Furniture Company's
products, particularly in emerging and low-income regions.

The demand for highly profitable items is seasonal, and any unexpected incident during the peak
season may have an influence on the company's profitability in the short to medium term.

The scarcity of trained labor in some worldwide marketplaces poses a challenge to Damro
Furniture Company's consistent profit growth in certain areas.

Changing customer purchasing habits through internet channels may pose a challenge to the
current physical infrastructure-driven supply chain architecture.

Because the firm operates in several countries, it is vulnerable to currency changes, particularly
given the turbulent political atmosphere in a number of regions throughout the world. (Small
Business, 2017).

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