After reading this chapter, you start to realize you have to analyze the forces in the organizational environment to-determine the impact of the opportunities and threats from the forces in the task and general environment for your business plan. This analysis will form an important part of the Profile of the Industry (Section 4, Appendix B). Questions: 1. Who are your customers? Research the characteristics of your target market. For example, what is the demographic profile and size of the population in your community (age, income, amount of disposable income spent on eating out, etc.)? I have listed some useful links that can be used together to find some of this information. Alternatively, using Al Chat assistance like ChatGPT, or other Al assistive tools, can give you quick answers on demographic information, however, you should always validate the data.

After reading this chapter, you start to realize you have to analyze the forces in the organizational environment to-determine the impact of the opportunities and threats from the forces in the task and general environment for your business plan. This analysis will form an important part of the Profile of the Industry (Section 4, Appendix B). Questions: 1. Who are your customers? Research the characteristics of your target market. For example, what is the demographic profile and size of the population in your community (age, income, amount of disposable income spent on eating out, etc.)? I have listed some useful links that can bejused together to find some of this information. Alternatively using Al Chat assistance like ChatGPT, or other Al assistive tools, can give you quick answers on demographic information, however, you should always validate the data. 2. Who are your competitors? Research the numbers and the strengths and weaknesses of your competitors. What degree of threat do they pose? A Competitive analysis chart can be an easy way to complete this exercise. For criteria where your business scores higher than the competition, explain why. 3. Where will you obtain all the inputs you will need to run your business? For the restaurant example, who will supply the food, kitchen equipment, tables, cutlery, etc.? 4. What kind of legal and political factors do you need to address? Which types of licenses are needed, and where can you obtain them? 5. Are there any significant socio-cultural forces in your community that might present an opportunity or a threat that should be discussed in your business plan? 6. Illustrate how the building blocks of competitive advantage could be used to help your restaurant--succeed