Strategic Management Essay -- essays research papers

Strategic Management QUESTION The study of the external environment is a crucial step in the mapping of business strategy for an organization. Discuss how the assessment of external forces can be performed with business examples to support your analysis. CONTENT PAGE 1. Question Paper 2 2. Introduction 3 3. PEST Analysis 4 (3.1) Political Legal Environment 4 (3.2) Economic Environment 4 (3.3) Social Environment 5 (3.4) Technological Environment 5 4. Industry Analysis 5 5. The Michael Porter Five Forces 6 (5.1) Threat Of New Entrants 7 (5.2) Rivalry of existing firms 7 (5.3) Threats of substitutes 7 (5.4) Bargaining power of buyer 8 (5.5) Bargaining power of suppliers 9 6. Conclusion 9 7. Bibliography 10 8. References 10 Introduction Business environment is an element that will affect all the activities of an organization. Beside, it will bring firms both opportunities and threats because of its uncertainties. Business environment is uncertain, complex & dynamics; organization should apply more flexibility & discontinuity ways to manage them. A firm cannot control the environment because it is unpredictable in its direction and speed of change, such as interest rates, rate of inflation and exchange rate. Business environment can classifies in two categories that are internal environment and external environment. Internal factors close to the company that have a direct impact on the organizations strategy, these factors include employee, customer, suppliers, shareholder, banker etc. External environment comprises those factors and trends outside the organisation that might have an influence upon an organisation and its future. Many external factors can have an effect upon an organisation - from changes in government legislation to the entry of new competition into a market.... ...; more the fact that your supplier realizes you can do it and so needs to respond accordingly Bibliography : http://IMBA 702 Cases.htm Strategic Management and Business Policy Entering 21st Century Global Society (Sixth edition) ?Thomas L. Wheelen & J.David Hunger http://www.Marketing Environment.htm References: Strategic Management and Business Policy Entering 21st Century Global Society (Sixth edition) ?Thomas L. Wheelen & J.David Hunger Business Policy and Strategic Management (Fifth Edition) ?Lawrence R. Jauch & William F.Glueck. Management of Business for GCE A Level & LCCI (2nd Edition) ?Vincent Gabriel Management (Third Edition) ?Kathryn M Bartol & David C Martin Strategic Management Awareness and Chance (Third Edition) ?John L Thompson Strategic Management Theory and Pratice ?G.A.Cole BA MA MIPD MIMgt, Strategic Management (International Edition) ?Alex Miller Gregory G.Dess Strategic Management (McGRAW-HILL International Edition) ?Gregory G.Dess & Alex Miller http://www. Porter's Five Forces.htm http://www.IMBA 702 Cases.htm http://www.Marketing Environment.htm http://www. Business Competition.htm http://Activity 1 - PESTEL analysis.htm