7 pressure - MGMT1001 Fundamentals of Management Managing...

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MGMT1001 Fundamentals of Management Managing External Pressures on the Organisation
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Lecture content ± The external environment ± Specific environment ± General environment ± Dealing with the external environment ± ± Recent trends in international business. ± Managing internationalisation. ± Managing in an international market. ± Structure of the global economy. ± Environmental challenges of international management. ± Management challenges in a global economy.
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The External Environment: The specific environment ± Those immediate to organisation that have direct impact on it and managers’ decisions ± Customers (spot purchase or return?) ± Suppliers (host of firms & individuals providing ± Supply chains (dependent, independent, influential) ± Competitors (number, size/influence, strengths) ± Pressure Groups (eg land-owners, environment, consumer, social & political)
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The External Environment: The general environment ± Economic conditions ± Market maturity, income levels, business cycle ± Political/legal conditions ± Stability/governance, familiarity, economic policies, regime-type? (recent dominance of neoliberalism?) ± Socio-cultural conditions ± Religion (eg Muslim, Jewish), lifestyle, values (health?) ± Demographic conditions ± Age profile/trends, ethnicity/immigration, education ± Technological conditions ± ± Global conditions (see below)
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Dealing with the external environment ± Assessing environmental uncertainty ± How stable or dynamic are aspects not just individually but in combination? ± Can these uncertainties be managed? ± Stakeholder relationship management ± Organisation’s culture will also affect its dealings with external environment ± Inclusion, cohesion, ethics, innovation, flexibility & insularity
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Globalisation ± Behind the buzzword? ± Means different things to different people – explaining the disparity? Increased modernity ± extension of ‘advanced’ living standards to less developed countries, with employment, investment, infrastructure, transport, communications or ± devastation of local economies, exploitation of Third World Post-modernity ± breaking down of national barriers and creating opportunities for global fraternisation, flexibility
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7 pressure - MGMT1001 Fundamentals of Management Managing...

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