Global Environment

In the macroeconomic area, financial market data and data on the economic situation are the most relevant. Technological advances influence both the products themselves as well as the manufacturing processes. Frequently, inventions are developed in a different area than that in which the product later finds its principal use. The quartz watch, for example, originated in the aerospace industry. Sociocultural developments – demographic indicators and changes in predominant values – also affect markets. The changed position of women in society, along with related factors such as larger numbers of working women, later marriages, and an increase in divorce rates, have led to greater demand for convenience foods. Nature also has its influence. On the one hand it provides raw materials, but on the other hand the environmental effects of manufacturing processes and products are a significant factor influencing the strategy. In the political and legal realms, this manifests itself in environmental protection legislation. Other legislation such as laws governing taxes, imports and exports, and approval processes for products such as medications are additional parameters defining planning