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Enviro Scanning_sbpunit 4-06 with GL notes

Enviro Scanning_sbpunit 4-06 with GL notes - External...

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3-1 External Scanning Chapter 4 Fall 2006
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3-2 Environmental Scanning Monitoring and interpreting sweep of social, political, economic, ecological, and technological events to spot budding trends that could eventually impact industry Definition Purpose Raise consciousness of managers about potential developments that could Have important impact on industry conditions Pose new opportunities and threats
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3-3 The External Scan Define the context in which you do business look for key emerging trends, issues consider competition and industry
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3-4 4.1 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) issues Objective of an external environmental scan is to identify Opportunities and Threats
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3-5 Key Frameworks for Conducting an External Scan Environmental variables p30 PEST analysis table 3-1 p 35 Porter 5 forces analysis, macro view p39** Issues Matrix page 38 (& sensitivity table) Strategic Group Map - p.45 Figure 3-6 gl
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3-6 Environmental Scan/Trends for a Company Companies are continually acquiring info on external events & then interpreting trends first define your target market, the product and industry pick which major enviro categories affects your business secondly write facts…. then explain the relevant business “ripple” impact in detail!! Trends & Issues Impact & Initiative
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3-7 4.2 Reducing Uncertainty Environmental 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 issues Many of these external factors are outside your control! The more you anticipate them, the less you need to react to them, the more you can plan for them You want to REDUCE UNANTICIPATED SURPRISES!
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3-8 4.2 Reducing Uncertainty
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3-9 4.2 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.
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3-10 External Environment Variables: 1. Industry analysis (Group Map): An in-depth examination of key factors/competitors within a corporation’s task environment.
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3-11 4.3 External Environment Macro/Societal environment forces (PEST): Economic forces Regulate the exchange of materials, money, energy, and information Technological forces Generate problem-solving inventions
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3-12 4.3 (cont’d) External Environment Societal environment forces: Political-legal forces
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