notes on reading # 4

notes on reading # 4 - media. 2. The role of management Ch....

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Ch. 1 (pp. 1-5) There are two types of strategies a company can have the market strategy and the nonmarket strategy, which refers to the social , political and legal aspects of the environment. Although firms do not have control over the nonmarket strategy as they have in their market strategy, learning about the nonmarket enviorment is very important for the success of the company. 1. The enviorment of Business Market Strategy o Interaction between firms, suppliers and consumers o Deals with markets and contracts o The base their strategy on research and development of new products and services Nonmarket Strateg o Political, social and legal arrangements o Interaction between firms, individuals, interest groups and government o The deal with majority rule, due process, broad enfranchisement, collective actions, and access to the public. o Firms must worr about the enviorment, health, safet, regulations, deregulations, intellectual propert, human rights, international trade polic, antitrust, non government organizations, and social activism with
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Unformatted text preview: media. 2. The role of management Ch. 2 (pp. 33-53) Market Strategy: pattern of actions taken in the market environment to create value byimproving the economicperformance of a firm. Nonmarket Strategy: pattern of actions taken in the nonmarket environment to create value byimproving overall performance Purpose: pursuit of opportunity and advantage in the face of competition for achiving superior performance Performance: 1. Value createdfor the firmsowner 2. Corporate social responsibility and ethics Nonmarket enviornemnet effective management: 1. Analyzing nonmarket issues and the broader enviornent 2. Formulating effective strategies 3. Integrating those strategieswith market strategies 4. Positioning the firmin its nonmarket environment A. IMPORTANCE OF THE NONMARKET STRATEGY-Nonmarket strategy goal: 1. unlock opportunities controlled by government 2. avoid the control of opportunities by the government Opportunities can be controlled by private politics Ch. 6 (pp. 159-160)...
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This note was uploaded on 11/29/2010 for the course PSC 222 taught by Professor Jing during the Spring '10 term at Rochester.

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notes on reading # 4 - media. 2. The role of management Ch....

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