Aside from the internal factors affect the success of a company or an industry, there are also several external factors like political, Economic, Social and Technological factors would in relation to the business situation and determine the performance of a business in the long run.
Forestory Company is one of the essential business that needs to cooperate with the First Nation Partners. “The forests of our lands and Territories have been at the environmental, economic, social and cultural heart of First Nations communities for thousands of years. Based on their title and rights, First Nations have managed the forests, made use of all the resources provided by it, and shared the forest resources in ways that allowed it to constantly regenerate.” So, in order to operate this bussines successfully, the company should build the friendly relations and cooperation with aboriginal peoples. Fortunately, the government is always seeking to find the tunnels and strategies to improve government relations with native people. “B.C. Premier urges cooperation, not more litigation, as government and natives reach ‘new fork in road'” It is what the government wants to do right now. As an important external opportunity, some forestory company benefit from it. For example, in March 2004, Tembec was ranked the number one forestry company in Canada, according to Report on Business Magazine’s CSR rankings.
References:
1. Understanding Pest Analysis with Definitions and Examples From PESTLEANALYSIS December 31, 2013
2. Corporate Social Responsibility From Industry of Canada
3. BC FIRST NATIONS FORESTRY & LAND STEWARDSHIP ACTION PLAN PREPARING FOR TRANSFORMATIVE CHANGE | MAY 2008
4. B.C. Premier urges cooperation, not more litigation, as government and natives reach ‘new fork in road’ By Larry Pynn, Vancouver Sun