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STRATEGIC MANAGEMENT & BUSINESS POLICY 10 TH EDITION

CHAPTER 4 Environmental Scanning and Industry Analysis. STRATEGIC MANAGEMENT & BUSINESS POLICY 10 TH EDITION. THOMAS L. WHEELEN J. DAVID HUNGER. Environmental Scanning. Societal environment -- Economic forces Technological forces Political-legal forces Sociocultural forces.

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STRATEGIC MANAGEMENT & BUSINESS POLICY 10 TH EDITION

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  1. CHAPTER 4 Environmental Scanning and Industry Analysis STRATEGIC MANAGEMENT & BUSINESS POLICY10TH EDITION THOMAS L. WHEELEN J. DAVID HUNGER

  2. Environmental Scanning • Societal environment -- • Economic forces • Technological forces • Political-legal forces • Sociocultural forces

  3. Societal Environment • Economic Forces -- • Regulate exchange of materials, money, energy and information

  4. Societal Environment • Technological Forces -- • Generate problem-solving inventions

  5. Societal Environment • Political-legal Forces -- • Allocate power; provide laws and regulations

  6. Societal Environment • Sociocultural Forces -- • Regulate values, mores, and customs of society

  7. Task Environment • Task environment -- • Elements or groups that directly affect a corporation and are affected by it

  8. Task Environment • Industry Analysis -- • In-depth examination of key factors within a corporation’s task environment

  9. Variables in Societal Environment

  10. Demographic Trends

  11. Transformational Sociocultural Trends • 8 Current Trends – • Increasing environmental awareness • Growing health consciousness • Expanding seniors market • Impact of the Generation Y boomlet • Declining mass market • Changing pace and location of life • Changing household composition • Increasing diversity of workforce & market

  12. International Societal Environments

  13. Scanning the Task Environment

  14. Ethical Behavior • “business ethics” • Argument that there is no such thing … it is an oxymoron

  15. Ethical Decision Making • Corporate practices -- • Massive write-downs and restatements of profit • Misclassification of expenses as capital expenditures • Pirating corporate assets for personal gain

  16. External Strategic Factors • Strategic myopia -- • Willingness to reject unfamiliar as well as negative information

  17. Issues Priority Matrix

  18. Analyzing the Task Environment

  19. Porter’s Approach to Industry Analysis • Threat of New Entrants – • Economies of scale • Product differentiation • Capital requirements • Switching costs • Access to distribution channels • Cost disadvantages • Government policy

  20. Porter’s Approach to Industry Analysis • Rivalry Among Existing Firms – • Number of competitors • Rate of industry growth • Product or service characteristics • Amount of fixed costs • Capacity • Height of exit barriers • Diversity of rivals

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