02 BUS 444 Chap 2

3 of40 creatingtheenvironmentally awareorganization 4

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Unformatted text preview: implications. 3 of 40 Creating the Environmentally Aware Organization 4 of 40 Environmental Scanning & Monitoring • External Scanning Surveillance of a firm’s external environment: Predict environmental changes to come Detect changes already under way Proactive mode • Alerts the firm to critical trends before changes have developed a discernible pattern and before competitors recognize them 5 of 40 Environmental Scanning & Monitoring • External Monitoring Track evolution of environmental trends, sequence of events or streams of activities 6 of 40 How to Spot Hot Trends • Listen • Pay attention • Follow trends online • Go old school Virgin Mobile and Crowdsourcing • Virgin Mobile USA relies on 2,000 carefully selected online customers, referred to as “Insiders” to keep it aware of trends and promising opportunities. • The Insider community—a very hip focus group— provides input on everything from designing phones to coming up with names for service plans. Competitive Intelligence • Define and understand a firm’s industry • Identify rivals’ strengths and weaknesses Intelligence gathering (data) Interpretation of intelligence data • Helps a firm avoid surprises 9 of 40 Environmental Forecasting • Environmental forecasting Plausible projections about direction, scope, speed and intensity of environmental change 10 of 40 Environmental Forecasting • Scenario analysis involves experts’ detailed assessments of societal tre...
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This note was uploaded on 03/05/2014 for the course BUS 444 taught by Professor Lynn during the Spring '11 term at Keuka.

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