Phd sources of external information published sources

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(PhD) Sources of External Information: Published Sources
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Purpose of an External Audit Develop a finite list of opportunities that could benefit a firm threats that should be avoided STRATEGIC MANAGEMENT Ch 3 -119 External Strategic Management Audit
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Industry analysis- an in-depth examination of key factors within a corporation’s task environment Identifying External Environmental Variables STRATEGIC MANAGEMENT 120
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STEEP Analysis- monitoring trends in the societal and natural environments S ociocultural- T echnological- E conomic- E cological- P olitical-legal forces Identifying External Environmental Variables STRATEGIC MANAGEMENT 121
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Trends in Economic Forces: Interest rates Home sales Oil prices Emerging markets BRIC countries Eastern Europe ENVIRONMENTAL SCANNING STRATEGIC MANAGEMENT 122
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strategic management BY ABDUREZAK M. (PhD) Ch 3 - 123
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Trends in Technological Forces: Portable information devices and electronic networking Alternative energy sources Precision farming Virtual personal assistants Genetically altered organisms Smart, mobile robots ENVIRONMENTAL SCANNING STRATEGIC MANAGEMENT 124
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Trends in Political-Legal Forces: INVESTMENT LAW Taxation and labor laws Government bureaucracy World Trade Organization ENVIRONMENTAL SCANNING STRATEGIC MANAGEMENT 125
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Trends in Socio-cultural Forces: Demographics Increasing environmental awareness Growing health consciousness Expanding seniors market Declining mass market Changing pace and location of life Changing household composition Increasing diversity of workforce and markets ENVIRONMENTAL SCANNING STRATEGIC MANAGEMENT 126
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STRATEGIC MANAGEMENT 4- 127
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STRATEGIC MANAGEMENT 4- 128
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Identifying External Strategic Factors: Issues priority matrix- used to identify and analyze developments in the external environment External strategic factors- key environmental trends that are judged to have both a medium to high probability of occurrence and a medium to high probability of impact on the corporation STRATEGIC MANAGEMENT 129
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STRATEGIC MANAGEMENT 4- 130
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STRATEGIC MANAGEMENT Ch 3 - 131 Industry Analysis: The External Factor Evaluation (EFE) Matrix Economic Social Cultural Demographic Environmental Political Governmental Technological Competitive Legal
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1. List key external factors 2. Weight from 0 to 1 3. Rate effectiveness of current strategies 4. Multiply weight * rating 5. Sum weighted scores Ch 3 - 132 STRATEGIC MANAGEMENT EFE Matrix Steps
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Ch 3 - 133 STRATEGIC MANAGEMENT
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STRATEGIC MANAGEMENT Ch 3 - 134
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strategic management BY ABDUREZAK M.(PhD) Ch 3 -135 Competitive Forces Collection & evaluation of data on competitors is essential for successful strategy formulation
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strategic management BY ABDUREZAK M.(PhD) Ch 3 -136 Competitive Forces Strengths Weaknesses Capabilities Opportunities Threats Objectives Strategies Identify Rival Firms’
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strategic management BY ABDUREZAK M.(PhD) Ch 3 -137 Competitive Forces Competition in virtually all industries can be described as intense
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