12/16/2023 0 Comments Space in time meaning![]() This is directly related to the growth potential changes of increased profits make it a wise decision to focus on a certain sector Financial stability ![]() If there is certainty and a chance for growth by operating in a certain sector, companies would do well to take on this adventure Profit potential The following sub-factors could influence this external factor: Growth potential The higher the AI, the farther to the right it is on the X-axis. It indicates how attractive it is for businesses to operate in a certain sector. To the right on the X-axis of the SPACE Analysis matrix, it shows the industry attractiveness. The easier it is to replace a product or service, the harder it is for businesses in that market to compete 2. The stronger product demand responds to a price change, the harder it is for businesses to calculate a stable price Substitutes If competing protects are a lot cheaper, it’ll be hard for businesses to survive Price elasticity When the stock market fluctuates (volatility), it becomes more difficult for businesses to make larger investments Competition One example is inflation, which refers to rising prices and money losing value and affecting businesses Stock market In order to survive, businesses will have to adapt to new technologies. Technology changes rapidly and has a significant impact on organisations. Think of sub-factors, such as: Technology The bigger the impact, the higher on the Y-axis it is shown. The stable environmental factors are influenced by a number of sub-factors. This is the environment’s stability that can be found on the low end of the Y-axis on the matrix. To start, the SPACE Analysis shows two criteria that describe the organisation’s external environment: 1. The SPACE Analysis can then lead to creative ideas with an appropriate corporate strategy. Do you want unlimited ad-free access and templates? Find out moreĬombined this leads to four positions conservative, aggressive, defensive, and competitive.
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