(Mt) – MGT 401 SEU Relationship BW Corporate Governance and Social Responsibility

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View attached explanation and answer. Let me know if you have any questions.please find the attached files1Strategic ManagementNameInstitutionDate2How can a decision-maker identify strategic factors in a corporation’s externalinternational environment?A decision-maker is sometimes referred to as an environmental scanner. This means thatthis initial role evaluates the various interest areas, which could be vital, especially for thebusiness. On the other hand, when analyzing the corporation’s external environmental factors,most researchers mention aspects such as the physical resources, including the climate, whichplays a crucial role in determining where the company sets up its business (Goliska,2018). Typically, such information remains crucial before opening a business beyond theborders. Apart from that, it is also essential to evaluate the societal environment. This meansconsidering the political stability of a given nation (Goliska, 2018). Politically unstable countriesare usually risky to operate a business. The other strategic factor is analyzing the laws withinthose countries. In this case, it is essential to know whether the rules are easy to handle or arestrict (Jamali, Karam, #038; Blowfield, 2017). In business, harsh government policies or regulationson certain products make it challenging for business operators to conduct their business in thegiven environment.Risk assessment is another critical approach in which decision-makers can identify thestrategic factors within the external international environment. In management, risk assessmententails a systematic process of evaluating risks, which the company is likely to experience duringits global environment operations (Jamali, Karam, #038; Blowfield, 2017). The company willeliminate the dangers through risk identification and probably focus on the backup plans that willhelp the company resolve the issues, which the management is unlikely to negate (Goliska,2018). Typically, an analytical thinker could incorporate various tools, including the External3Factors Analysis Summary. Commonly known as the EFAS, the device is mostly used forenvironmental scanning. When using it, the company can set up a table to monitor how theorganization responds to the identified issues and factors in the external environment. Typically,a rating of 5.0 is used when analyzing the responses based on organizational performances.Discuss the relationship between corporate governance and social responsibility? Giveexles.In organizational management, corporate governance ensures a company or organizationfunctions responsibly by enhancing compliance, transparency, and accountability based on theprimary stakeholders. Corporate governance entails a set of institutional, cultural, and legalarrangements, which are critical in establishing how traded corporations operate, returns, risks,and control (Ja…

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