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Fundamentals of Management wk 3– External analysis and Organisation’s Vision/Mission

Fundamentals of Management wk 3– External analysis and Organisation’s Vision/Mission. Richard Selby. Can be summarised as: The external environment Includes the stakeholders (which we discussed briefly last week) + more! The internal environment Coming later…!.

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Fundamentals of Management wk 3– External analysis and Organisation’s Vision/Mission

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  1. Fundamentals of Managementwk 3– External analysis and Organisation’s Vision/Mission Richard Selby

  2. Can be summarised as: The external environment Includes the stakeholders (which we discussed briefly last week) + more! The internal environment Coming later…! What effects an Organisation?

  3. Everything which influences the organisation from the outside, such as: External environment

  4. The stakeholders The government Money Laws Competition Changes in lifestyle Changes in population Technology Etc, etc, etc, etc …. External environment Everything which influences the organisation from the outside, such as:

  5. A checklist: Sociological considerations Technological considerations Economic considerations Political considerations What to include?

  6. A checklist: Sociological considerations Technological considerations Economic considerations Political considerations What to include? Often called STEP analysis because

  7. A checklist: Sociological considerations Technological considerations Economic considerations Political considerations What to include? Often called STEP analysis because of the initial letters

  8. A checklist: Political considerations Economic considerations Sociological considerations Technological considerations What to include? Or sometimes PEST analysis for the same reason

  9. Changes in lifestyles Demographics Education Health Income Work vs leisure Environmental issues Sociological“Socio-cultural”

  10. New products/expectations (incl. quality) Speed of change Competition Investment policies (incl. Local, Regional, National, International) Legal/regulatory issues Technological

  11. Interest rates Exchange rates Investment from all sources Consumer disposable income Tax policies Incentives Economic

  12. Government policies Government stability State-owned vs privately owned Legal and regulatory issues Political

  13. STEP + Environmental issues, and Legal issues However, I have included these in my STEP Sometimes two more headings are added to the checklist:

  14. End of part 1…… ……part 2

  15. A Vision statement is a declaration of where you would like to be Vision and Mission

  16. A Vision statement is a declaration of where you would like to be A Mission statement expresses the purpose of the organisation Vision and Mission

  17. A Vision statement is a declaration of where you would like to be A Mission statement expresses the purpose of the organisation The two are complimentary – the Mission is how you get to the Vision Vision and Mission

  18. “The Telecommunications Department will be a leader in enabling Texas Tech University to exchange thoughts and ideas through technology. Communications will empower students, faculty, and staff to reduce distance through collaboration”. An example of a Vision statement Source: Texas Tech University, Office of the CIO, Box 42008, Lubbock, TX 79409 http://www.depts.ttu.edu/infotech/strat/telecom.pdf

  19. “The Telecommunications department provides reliable, modern, and integrated communications services to enable teaching, learning, research, and outreach”. An example of a Mission statement Source: Texas Tech University, Office of the CIO, Box 42008, Lubbock, TX 79409 http://www.depts.ttu.edu/infotech/strat/telecom.pdf

  20. However the Vision and Mission statement is written, it has to be adopted by everyone at every level ….. …..beginning with top management! “Walk the talk”

  21. It must also be written in clear, unambiguous language which everyone can understand at every level! Language

  22. Thanks for your attention! Copies of this presentation are on Moodle

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