Putting It Together: Environments and Strategic Management | Principles of Management.pdf

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9/22/19, 12’56 PMPutting It Together: Environments and Strategic Management | Principles of ManagementPage 1 of 6Module 4: Environments and Strategic ManagementPutting It Together: Environments and StrategicManagementPrinciples of Management
9/22/19, 12’56 PMPutting It Together: Environments and Strategic Management | Principles of ManagementPage 2 of 6Let’s return to the scenario that we considered at the outset of this module. As the new head ofNorth American operations for Walmart, you’ve been asked by your boss to outline yourstrategy for dealing with the threat posed by Amazon. Let’s apply the strategic managementprocess you just learned about.Step One: Strategic Objectives and AnalysisYou start by reviewing the mission statement to ensure that your strategy is focusedappropriately: “We save people money so they can live better.” You will want to make sure thatyour strategy is consistent with this vision.Next, you will move to an external analysis of the business environment using the PESTELmethodology.
9/22/19, 12’56 PMPutting It Together: Environments and Strategic Management | Principles of ManagementPage 3 of 6FactorAnalysis of External EnvironmentPoliticalMinimum wage pressure

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