Strategic Management Business Environment Scanning General.

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Presentation transcript:

Strategic Management Business Environment Scanning General

Business Environment Scanning Lecture Outline Layers of the Business Environment The Macroenvironment PESTEL Porter’s National Diamond

Business Environment Scanning and SWOT Analysis Strengths ) Analyses organisational ) resource capability. Weaknesses ) Internal Analysis Opportunities ) Analyses business ) environment. Threats ) External Analysis

Critical Success Factors Those product and service features that are particularly valued by customer groups and, therefore, where an organisation must excel in order to outperform competitors. Typical CSFs ReputationArchitectureInnovation After-sales service Delivery reliability Testing Technical quality

Layers of the business environment

Understanding the Macro-Business Environment Diversity –Many different influences (or just a few)? Complexity –Interconnected or isolated influences? Speed of change (particularly IT) –Turbulent and Chaotic? or –Placid and Predictable

Nature of Business Environment (Emery and Trist) Complex Dynamic Slow SPEED OF Fast CHANGE Many NUMBER OF INFLUENCES Few Complex Stable Simple Stable Simple Dynamic

Macroenvironment – PESTEL

Political Government stability Taxation policy Foreign trade regulations Social welfare policies Economic Business cycles GNP trends Interest rates Money supply Inflation Unemployment Disposable income

Macroenvironment – PESTEL Sociocultural Population demographics Income distribution Social mobility Lifestyle changes Attitudes to work and leisure Consumerism Levels of education Technological Government spending on research Government and industry focus on technological effort New discoveries /developments Speed of technology transfer Rates of obsolescence

Macroenvironment – PESTEL Environmental Environmental protection laws Waste disposal Energy consumption Legal Competition law Employment law Health and safety Product safety

Key Aspects of PESTEL Analysis Not just a list of influences Need to understand key drivers of change Focus is on future impact of environmental factors

The Key Driver of Change? Globalisation

Determinants of National Advantage in a Global Business Environment Some countries are more competitive than others Some industries within countries are more competitive than others

Porter’s Diamond The Determinants of National Advantage.