02 - MGMT - Chapter03

02 - MGMT - Chapter03 - 3 Roadmap The environment of...

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Roadmap The environment of managers Main components of organizational culture Organizational Culture Strength and Fit Subcultures Adaptive Cultures Culture and Ethics
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The Environment of Managers
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The Environment of Managers
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External Environment Components of the
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Changing Environments Environmental Change Environmental Complexity Resource Scarcity Uncertainty Characteristics of Changing External Environments
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Environmental Change Environmental change – the rate at which a company’s general and specific environments change Stable environments Dynamic environments Punctuated equilibrium theory Companies cycle through and dyanmic environments .
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Environmental Complexity Environmental Complexity: the number of external factors in the environment that affect organizations Simple environments Complex environments
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Resource Scarcity Resource Scarcity The abundance or shortage of critical organizational resources in an organization’s external environment
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Uncertainty
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The Environment of Managers
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General Environment Economic Technological Sociocultural Political / Legal Components of the
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Economic Component A growing economy provides an environment favorable to business growth A shrinking economy makes business growth more difficult Business confidence indices can help to predict future economic activity
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Technological Component Information Output Input Technology Knowledge Tools Techniques Raw Materials Services Products
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Sociocultural Component Demographic changes Changes in behavior, attitudes, and beliefs
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Demographics Example
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Political / Legal Component Legislation Regulations Court decisions Managers must be educated about the laws, regulations, and potential lawsuits that could affect business
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The Environment of Managers
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Specific Environment Customer Competitor Supplier Industry Regulation Advocacy Group Components of the
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Customer Component Reactive customer monitoring Responding to problems, trends, and events after they occur Proactive customer monitoring Anticipating problems, trends, and events before they occur Monitoring customer wants and needs is critical for business success
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Competitor Component Managers should keep track of what their competitors are doing by performing a competitive analysis , which consists of: Deciding who your competitors are Anticipating competitors’ moves Determining competitors’ strengths and weaknesses Competitive analysis tips: Do not focus on only a handful of well-known competitors Do not underestimate potential competitors’ capabilities
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Supplier Component Opportunistic Behavior Suppliers Buyer Dependence Supplier Dependence Relationship Behavior Bargaining Power
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02 - MGMT - Chapter03 - 3 Roadmap The environment of...

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