Enviro Scanning_sbpunit 4-06 with GL notes

Enviro - 3-1External ScanningChapter 4Fall 20063-2Environmental ScanningMonitoring and interpreting sweep of social political economic ecological

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Unformatted text preview: 3-1External ScanningChapter 4Fall 20063-2Environmental ScanningMonitoring and interpreting sweep of social, political, economic, ecological, and technological events to spot budding trends that could eventually impact industryDefinitionPurposeRaise consciousness of managers about potential developments that couldHave important impact on industry conditionsPose new opportunities and threats3-3The External ScanDefine the context in which you do businesslook for key emerging trends, issuesconsider competition and industry3-44.1 Environments Environmental scanning:The monitoring, evaluating, and disseminating of information from the external environment to key people within the organization to avoid strategic surprise and ensure the long-term health of the firm.Need to assess Macro (PEST),Industry Specific (5 Forces)and Competitor (Group Map)issuesObjective of an external environmental scan is to identify Opportunities and Threats3-5Key Frameworks for Conducting an External ScanEnvironmental variables p30PEST analysis table 3-1 p 35Porter 5 forces analysis, macro view p39**Issues Matrix page 38 (& sensitivity table)Strategic Group Map - p.45 Figure 3-6gl3-6Environmental Scan/Trends for a CompanyCompanies are continually acquiring info on external events & then interpreting trendsfirst define your target market, the product and industrypick which major enviro categories affects your businesssecondly write facts…. then explain the relevant business “ripple” impact in detail!!Trends & IssuesImpact & Initiative3-74.2 Reducing UncertaintyEnvironmental uncertainty:The degree of complexity plus the degree of change existing in an organization’s external environment.You need to assess this in order to develop strategies to respond to issuesMany of these externalfactors are outside your control!The more you anticipate them, the less you need to react to them, the more you can plan for themYou want to REDUCE UNANTICIPATED SURPRISES!3-84.2 Reducing Uncertainty3-94.2 External Environment – Analyze in 3 ways to reduce uncertainty:1.Macro/Societal environment (PEST):General forces that do not directly touch on the short-run activities but often influence its long-run decisions.1.Task environment (5 forces):Those elements or groups that directly affect the corporation and, in turn, are affected by it. The task environment is the industry within which that firm operates.3-10External Environment Variables: 1.Industry analysis (Group Map):An in-depth examination of key factors/competitors within a corporation’s task environment.3-114.3 External Environment Macro/Societal environment forces (PEST):Economic forcesRegulate the exchange of materials, money, energy, and informationTechnological forcesGenerate problem-solving inventions3-124.3 (cont’d) External Environment Societal environment forces:Political-legal forcesAllocate power, provide laws and regulations...
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This note was uploaded on 09/08/2011 for the course BAD 480 taught by Professor Null during the Spring '11 term at GWU.

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Enviro - 3-1External ScanningChapter 4Fall 20063-2Environmental ScanningMonitoring and interpreting sweep of social political economic ecological

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