Examlex
The first step in the strategic management process is analyzing the external environment.
Legal Environment
The framework of laws, regulations, and practices that influence the conduct of businesses and individuals within a jurisdiction.
Workforce Planning
The systematic process for identifying and addressing the gaps between the workforce of today and the human capital needs of tomorrow.
Labour Market Data
It encompasses statistical information related to employment, unemployment, wages, and workforce characteristics in a specific region or industry.
External Human Capital
The skills, knowledge, and abilities present in individuals outside an organization that can be brought in through hiring or collaboration.
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