You should describe the relevant factors, some of which you can control and others you can’t but all of which may impact your success and the performance of your business/organization. For example competition, technology, regulatory, monetary policy, society, etc., you may not be able to influence. However, your response and adaptability are important. On the other hand the internal mission, leadership, processes, human resources, products and services, strategic plans, systems, procedures, are within your direct purview.