1. Developing effective strategies, operations, and polices requires a parallel study of a firm’s anticipated future environment. www.paperhint.com

4. Anticipation of future events and their effect upon a firm’s continued viability is paramount to the firm positioning itself for the future. www.paperhint.com

5. 1. Cross-impact analysis 2. Trend impact analysis 3. Delphi technique www.paperhint.com

6.  Using this technique, manager should select about 25 events that could come to pass in in environments that could have a significant impact on the organisation.  Then, estimate the probabilities that each will occur and when, and follow this with an assessment of the impact on the future of the business. www.paperhint.com

7.  This is similar to a cross-impact analysis with the exception that the events forecasted result from identified environmental trends.  After this the probability of the trend continuing and the event occurring is determined, and the event’s impact on the business’s future is predicted. www.paperhint.com

8.  This technique include both the collective wisdom of a group and a group’s tendency to influences individual members and bring about a compromise.  Care should be taken to only include individuals who are experts on the topic being investigated. www.paperhint.com

9.  Rivalry among established firms  Relative power of suppliers  Relative power of customers  New entrants  Substitute products www.paperhint.com

10. Rivalry among established firms Relative power of suppliers Relative power of customers New entrants Threat of Substitute products www.paperhint.com

11. Economist Joe Bain who identified three main sources of barriers to new entry:- Brand Loyalty Absolute cost advantage (superior production technique) Economies of scale ( cost advantages associated with large organization size) www.paperhint.com

12.  Industry competitive structure (number, size, and distribution of products and service in the organization and industry)  Demand conditions  The height of exist barriers in the industry www.paperhint.com