Every entrepreneur must understand the circumstances in which they operate in an internal and external sense. This is a continuous process given the fact that every business entity goes through changes over time. Therefore, this topic will provide students with the insights and knowledge into different ways for analyzing the surroundings of the business entity. The external environment of the company is even more complicated in the international setting. Not only does the company cooperate with diverse international businesses, but also inside the company there exists a diverse workforce. One of the most important analyses of this kind is the SWOT – analysis. This analysis takes into account the positive and negative ramifications that may occur when creating a new business.