Thanks to all my readers. It gives boost when I get calls from my readers and am always happy to revert back to my followers and readers. I am sorry if I am unable to reply to all the e-mails due to my busy schedule.
Contact me for any type of assignments help(nominal charges).
Thanks and Regards,
Er. Bhavi Bhatia
e-mail: bhavi.bhatia.411@gmail.com
Phone: +91-9779703714, +91-9814614666
GBS Sample 1Name_ID_GBS Task 1.pdf1 P a g e .docxshericehewat
GBS Sample 1/Name_ID_GBS Task 1.pdf
1 | P a g e
Global Business Strategy
Level 7 - Unit 7.2
International Business
Environment Analysis.
Report – Activity 1
Revised 18 Sept 2015
2 | P a g e
Contents
Section Details Page
Activity 1
Introduction Company profile 4
1a International business environment Analysis Techniques 4 – 7
1b Analysis of the micro and macro of Marks & Spencer‟s PLC 7 – 8
1c The impact of international business environment on Marks & Spencer‟s 8 – 9
1d What does globalization mean for Marks & Spencer‟s? 9 – 10
1a (2) What is the extent of globalization on organizations? 10
3 | P a g e
1b (2) Operating structures different organizations in international markets. 10 – 11
References 12
Introduction
Marks & Spencer PLC was founded in 1884.It has grown from a single market stall to an
international multi-channel retailer. They sell stylish, high quality value clothing and home
products as well as food, responsibly sourced from around 3,000 suppliers globally. Their
portfolio covers general merchandise, food, international and multi-channel across 54
international territories with nearly 86,000 employees.(Marks and Spencer, 2014).
International business environment Analysis Techniques
Business environment is the combination of internal and external factors that influence a
company‟s operating situation and the overall business. It is both Micro and Macro in nature.
Micro or internal factors are controllable and could include management style, organizational
culture, mission and value statement. Whereas Macro or external factors are uncontrollable these
http://www.businessdictionary.com/definition/combination.html
4 | P a g e
factors are often both dynamic & complex. Business environment factors can include new
policies, procedures, government changes, improvements in technology, social and economic
trends(Nonaka, I., and Takeuchi, H, 1995).The reason for analyzing the business environment is
to highlight opportunities and threats. Knowing the opportunities and threats to the business
allows the company to set a strong business strategy and understand better where to invest,
expand, diversify and downscale. There are a number of different tools we can use to analyse
both the Micro & Marco factors within a business.
Micro can be analysed with Porters 5 forces model.Porter identified that there are 5 key
forces that influence business that needed to be analysed in order to develop a competitive
advantage (Porter, 1985). These forces are supplier power, buyer power, competitive rivalry,
threat of substitution &threat of new entryand are used for strategic industry analysis. The
positives of using this technique to analyze is that it looks at a wider range of competitors and it
forces the business to look externally. However this is a relatively old model that may not be
suitable ...
Assignment 3 Case StudyE-Business Strategy and Models in B.docxbraycarissa250
Assignment 3: Case Study
E-Business Strategy and Models in Banks: Case of Citibank
Bank is an institution that deals with money as well as credit. It accepts deposits from the public, makes funds available to those who need then and helps in remittance of money from one place to another (Macesich, George, 2000, p-42). Modern banks today perform a wide range of functions that makes it difficult to give an apt and precise definition of it. One of the famous economists, Crowther had said, a bank “collects money from those who have it to spare or who are saving it out of their incomes, and lends this money to those who require it”. In short, the term bank in modern times refers to an institution that deals with money i.e. accepts deposits and advances loans; has the ability to create credit which basically implies expanding its liabilities as a multiple of its reserves; creates demand deposits and it is a commercial institution that aims at securing profits.
Citibank is a subsidiary of Citigroup. Citibank was founded as City Bank of New York in the year 1918. According to the latest statistics, it is now the third largest bank holding company in the United States by the total assets after Bank of America and JP Morgan Chase. The bank has its retail banking operations spread over more than 100 countries and territories around the world (Harold, Cleveland & Huertas, 1985). Apart from the standard banking transactions, Citibank offers credit cards, insurance and other investment products. Their online services have earned them appreciation from every nook and corner, making them the most successful in the field. The 15 million online users bear testimony to the stated fact. The key people involved in the management of the bank are: Vikram Pandit (CEO), John Gerspach (CFO), Douglas Peterson (COO) and Willliam R. Rhodes, the Chairman.
Strategy literally means the way an action is planned to achieve the desired results. Every company has certain aims that it hopes to conquer. It has a vivid description of what it desires to achieve. The vision statement that company has is an idealized picture which inspires it, energizes its efforts towards directing its actions towards the expected goals (Hambrick and Chen, 2007, p 935-955). Strategic Decision Making, in context of a firm or an organization, is the framing of long term plan of action that aims at resulting in success and profits for the products and services marketed by the company, for instance (Triantaphyllou, 2000, p 320). Strategic decision making is important to outperform the various other competitors in the market. The process of determining appropriate courses of action for achieving organizational objectives and thereby accomplishing organizational purpose is known as Strategy formulation. In today’s era of cut-throat competition in the business environment budget-oriented planning or forecast-based planning methods are insufficient for a large corporation to survive and prosper. The firm ...
5 marketing strategy and marketing performance does strategy affect performa...INFOGAIN PUBLICATION
This article surveys marketing management literature to find out the positive impact that a good market and marketing can have on marketing performance at the marketplace. The marketplace in this contest can be either a country or even a continent since the companies are multinational and also have diversified holdings which help them to spread their tentacles to every nook and cranny of the globe. Locally based companies are not left out since they all use marketing strategies to do their marketing. Companies or multinationals of U.S. and U.K. parentage will be used a lot. Does the literature attest to the positive impact of very good marketing strategies on a company’s marketing performance? This is going to be investigated to come out with the justify opinion. Coming out with a very good marketing strategy to pilot or direct a company’s marketing assault is not very easy. It is plainly herculean. Implementation, monitoring, controlling and evaluating marketing strategies are equally herculean. Top marketing management do not have it easy with formulating, managing, and evaluating marketing strategies. Marketing performance measurement is tackled in this piece. It is essential to point out that marketing is not the pressure of only those in marketing (pan–marketing). It is very general managerial with all corporate functional players all actively involved.
Thanks to all my readers. It gives boost when I get calls from my readers and am always happy to revert back to my followers and readers. I am sorry if I am unable to reply to all the e-mails due to my busy schedule.
Contact me for any type of assignments help(nominal charges).
Thanks and Regards,
Er. Bhavi Bhatia
e-mail: bhavi.bhatia.411@gmail.com
Phone: +91-9779703714, +91-9814614666
GBS Sample 1Name_ID_GBS Task 1.pdf1 P a g e .docxshericehewat
GBS Sample 1/Name_ID_GBS Task 1.pdf
1 | P a g e
Global Business Strategy
Level 7 - Unit 7.2
International Business
Environment Analysis.
Report – Activity 1
Revised 18 Sept 2015
2 | P a g e
Contents
Section Details Page
Activity 1
Introduction Company profile 4
1a International business environment Analysis Techniques 4 – 7
1b Analysis of the micro and macro of Marks & Spencer‟s PLC 7 – 8
1c The impact of international business environment on Marks & Spencer‟s 8 – 9
1d What does globalization mean for Marks & Spencer‟s? 9 – 10
1a (2) What is the extent of globalization on organizations? 10
3 | P a g e
1b (2) Operating structures different organizations in international markets. 10 – 11
References 12
Introduction
Marks & Spencer PLC was founded in 1884.It has grown from a single market stall to an
international multi-channel retailer. They sell stylish, high quality value clothing and home
products as well as food, responsibly sourced from around 3,000 suppliers globally. Their
portfolio covers general merchandise, food, international and multi-channel across 54
international territories with nearly 86,000 employees.(Marks and Spencer, 2014).
International business environment Analysis Techniques
Business environment is the combination of internal and external factors that influence a
company‟s operating situation and the overall business. It is both Micro and Macro in nature.
Micro or internal factors are controllable and could include management style, organizational
culture, mission and value statement. Whereas Macro or external factors are uncontrollable these
http://www.businessdictionary.com/definition/combination.html
4 | P a g e
factors are often both dynamic & complex. Business environment factors can include new
policies, procedures, government changes, improvements in technology, social and economic
trends(Nonaka, I., and Takeuchi, H, 1995).The reason for analyzing the business environment is
to highlight opportunities and threats. Knowing the opportunities and threats to the business
allows the company to set a strong business strategy and understand better where to invest,
expand, diversify and downscale. There are a number of different tools we can use to analyse
both the Micro & Marco factors within a business.
Micro can be analysed with Porters 5 forces model.Porter identified that there are 5 key
forces that influence business that needed to be analysed in order to develop a competitive
advantage (Porter, 1985). These forces are supplier power, buyer power, competitive rivalry,
threat of substitution &threat of new entryand are used for strategic industry analysis. The
positives of using this technique to analyze is that it looks at a wider range of competitors and it
forces the business to look externally. However this is a relatively old model that may not be
suitable ...
Assignment 3 Case StudyE-Business Strategy and Models in B.docxbraycarissa250
Assignment 3: Case Study
E-Business Strategy and Models in Banks: Case of Citibank
Bank is an institution that deals with money as well as credit. It accepts deposits from the public, makes funds available to those who need then and helps in remittance of money from one place to another (Macesich, George, 2000, p-42). Modern banks today perform a wide range of functions that makes it difficult to give an apt and precise definition of it. One of the famous economists, Crowther had said, a bank “collects money from those who have it to spare or who are saving it out of their incomes, and lends this money to those who require it”. In short, the term bank in modern times refers to an institution that deals with money i.e. accepts deposits and advances loans; has the ability to create credit which basically implies expanding its liabilities as a multiple of its reserves; creates demand deposits and it is a commercial institution that aims at securing profits.
Citibank is a subsidiary of Citigroup. Citibank was founded as City Bank of New York in the year 1918. According to the latest statistics, it is now the third largest bank holding company in the United States by the total assets after Bank of America and JP Morgan Chase. The bank has its retail banking operations spread over more than 100 countries and territories around the world (Harold, Cleveland & Huertas, 1985). Apart from the standard banking transactions, Citibank offers credit cards, insurance and other investment products. Their online services have earned them appreciation from every nook and corner, making them the most successful in the field. The 15 million online users bear testimony to the stated fact. The key people involved in the management of the bank are: Vikram Pandit (CEO), John Gerspach (CFO), Douglas Peterson (COO) and Willliam R. Rhodes, the Chairman.
Strategy literally means the way an action is planned to achieve the desired results. Every company has certain aims that it hopes to conquer. It has a vivid description of what it desires to achieve. The vision statement that company has is an idealized picture which inspires it, energizes its efforts towards directing its actions towards the expected goals (Hambrick and Chen, 2007, p 935-955). Strategic Decision Making, in context of a firm or an organization, is the framing of long term plan of action that aims at resulting in success and profits for the products and services marketed by the company, for instance (Triantaphyllou, 2000, p 320). Strategic decision making is important to outperform the various other competitors in the market. The process of determining appropriate courses of action for achieving organizational objectives and thereby accomplishing organizational purpose is known as Strategy formulation. In today’s era of cut-throat competition in the business environment budget-oriented planning or forecast-based planning methods are insufficient for a large corporation to survive and prosper. The firm ...
5 marketing strategy and marketing performance does strategy affect performa...INFOGAIN PUBLICATION
This article surveys marketing management literature to find out the positive impact that a good market and marketing can have on marketing performance at the marketplace. The marketplace in this contest can be either a country or even a continent since the companies are multinational and also have diversified holdings which help them to spread their tentacles to every nook and cranny of the globe. Locally based companies are not left out since they all use marketing strategies to do their marketing. Companies or multinationals of U.S. and U.K. parentage will be used a lot. Does the literature attest to the positive impact of very good marketing strategies on a company’s marketing performance? This is going to be investigated to come out with the justify opinion. Coming out with a very good marketing strategy to pilot or direct a company’s marketing assault is not very easy. It is plainly herculean. Implementation, monitoring, controlling and evaluating marketing strategies are equally herculean. Top marketing management do not have it easy with formulating, managing, and evaluating marketing strategies. Marketing performance measurement is tackled in this piece. It is essential to point out that marketing is not the pressure of only those in marketing (pan–marketing). It is very general managerial with all corporate functional players all actively involved.
Using established business models as investigative tools and linking them together to enhance their analytical value is proposed in this paper as a method of progressing from strategic situation analysis to competitive advantage. Moreover, internal analyses that result in the identification of distinctive competencies and external investigations that uncover industry key success factors give strategists the means to develop strategies that may achieve competitive advantage.
The term strategy is derived from the Greek word “Strategos” means a plan or process or a set of decision rules or an arrangement to create a common thread.
It is the path or the way to achieve the goals of the organization or corporate.
It helps the manager proactively to direct or run the organization in a volatile environment.
It consists of WH questions.
Mintzberg has defined the strategy which consists of “5Ps” such as: plan, pattern, position, ploy and perspective.
A Plan “how to achieve the target”.
A Pattern “to take consistent actions over time”.
A Position “to be achieved by offering goods and services in particular market”.
A Ploy “how to beat the competitors by using tactics and tricks with proper allocation and utilization of resources”.
A Perspective “it is the vision of the organization what it want to be”.
Characteristics:
Strategy is concerned with to achieve the broad goals of the organization.
It establishes unique value proposition compared to its competitors.
It provides tailored value to its customers.
It clearly identifies and clarifies what not to do.
It empowers the organization to move towards its vision.
It creates environmental scanning to gain competitive advantage.
External environment is the environment outside of the organization which influences the business. It can broadly be categorised into two parts: Micro Environment & Macro Environment.
Micro Environment studies the small area of business or immediate periphery of the organization. It directly influence and regulate the business.
E.g.: customers, suppliers, creditors, vendors, competitors and local community.
Macro Environment: It studies overall business activity in a broad manner. It influences business on the basis of “PEST”: Political, Economic, Socio-cultural and Technology.
Political Factors consists of employment laws, tax policy, policies regarding trade & tariffs, environmental regulation and political stability.
Economic Factors consists of economic growth, interest rate, exchange rate and inflation rate.
Socio-Cultural Factors consists of health consciousness, population growth rate, age, career attitude, emphasis on safety etc.
Technological Factor consists of R & D activity, automation, technology incentives and change in technology.
Internal Environment is a component of the business environment, which is composed of various elements present inside the organization that can affect and be affected by the decision of the organization and its activities.
The internal environment of the organization consists of employees, management, owner, shareholders, investors and all other resources.
Factors influencing external environment are: value system, vision, structure, culture, human resource, physical resource, technical-know-how etc.
The internal environment environmental analysis generates long list of resources and capabilities which play vital role in strategy formulation.
It determines the strength and weakness of the organization.
. Introduction to Corporate Strategy(CS))debajanipalai
The term strategy is derived from the Greek word “Strategos” means a plan or process or a set of decision rules or an arrangement to create a common thread.
It is the path or the way to achieve the goals of the organization or corporate.
It helps the manager proactively to direct or run the organization in a volatile environment.
It consists of WH questions.
Mintzberg has defined the strategy which consists of “5Ps” such as: plan, pattern, position, ploy and perspective.
A Plan “how to achieve the target”.
A Pattern “to take consistent actions over time”.
A Position “to be achieved by offering goods and services in particular market”.
A Ploy “how to beat the competitors by using tactics and tricks with proper allocation and utilization of resources”.
A Perspective “it is the vision of the organization what it want to be”.
Strategy is concerned with to achieve the broad goals of the organization.
It establishes unique value proposition compared to its competitors.
It provides tailored value to its customers.
It clearly identifies and clarifies what not to do.
It empowers the organization to move towards its vision.
It creates environmental scanning to gain competitive advantage.
External environment is the environment outside of the organization which influences the business. It can broadly be categorised into two parts: Micro Environment & Macro Environment.
Micro Environment studies the small area of business or immediate periphery of the organization. It directly influence and regulate the business.
E.g.: customers, suppliers, creditors, vendors, competitors and local community.
Macro Environment: It studies overall business activity in a broad manner. It influences business on the basis of “PEST”: Political, Economic, Socio-cultural and Technology.
Internal Environment is a component of the business environment, which is composed of various elements present inside the organization that can affect and be affected by the decision of the organization and its activities.
The internal environment of the organization consists of employees, management, owner, shareholders, investors and all other resources.
Factors influencing external environment are: value system, vision, structure, culture, human resource, physical resource, technical-know-how etc.
Strategic Advantage Profile (SAP) is a summary statement which provides an overview of the advantages and disadvantages in key areas which affect future operations of the organization.
It is the systematic evaluation of strategic advantage which is significant for the business and its environment.
It involves analysis of internal strength and weakness along with opportunities and threats by focusing on complete study of functional areas like: marketing, production, finance, accounting, personnel, R&D.
In this lesson you learned about the focus areas of determining a company’s strategic position and thereafter communicating its purpose to stakeholders. You learned that a company’s strategic position can be determined using tools such as PESTEL and SWOT analysis.
Running Head ECONOMICS AND ADMINISTRATION1ECONOMICS AND ADMI.docxtodd271
Running Head: ECONOMICS AND ADMINISTRATION 1
ECONOMICS AND ADMINISTRATION 5
ECONOMICS AND ADMINISTRATION
Khalia Hart
Dr. Touhey
MGMT 640 – Financial Decision Making for Managers
March 31, 2019
EXECUTIVE SUMMARY
For the success of every business, there needs to be a strong supporting factor that enforces success. The success of a business indicates that the structure of decision making is tough, strict but at the same time lenient to staff and more importantly customers. Financial management is a very vital factor to consider while engaging in any business activity. Not only is it concerned about customers and staff, but also affects every aspect of the business from managing cash flow and maintaining performance index to developing plans to ensure maximum use of opportunities by business owners. Stakeholders and business owners need to realize the importance of financial management as a tool in business administration since it is the force that ensures continuous development of financial capabilities needed for a business to achieve its full potential.
The macro-economic environment addresses issues concerning behavior. Here are where aAdministrative issues lie. Administration can be categorized into two main categories, administration as a practice and as a science. Administration as a practice mainly addresses the normal routine of business owners and managers and their normal administrative roles in any business entity. Administration as a scientific field is bound to face challenges which are broken down into four main classes. They are discussed fully in this document.
Factors that affect administrative decisions include globalization, cost of control, the relationship between stakeholders and demand on ethical behavior and corporate responsibility. Administrations in different organizations should always be keen to ensure that the named issues are always put under the eye . These factors can greatly affect the performance of a business entity as shall be discussed in this document. Comment by debra touhey: Good start, Khalia. The Executive Summary should explain the problems at hand with potential solutions to those problems. Here is a good reference on writing Executive Summaries:
https://www.inc.com/guides/2010/09/how-to-write-an-executive-summary.html
INTRODUCTION
Since time immemorial, business has always been a very important factor in society. To date, business transactions take place daily through the various business entities that have been established. In the modern world, however, various guidelines, strategies, and tools have been established to ensure that business practices go on smoothly (Robert et al., 2004). Comment by debra touhey: A little too informal for graduate writing
One of the practices that have been developed to ensure maximum productivity in the various entities that have been established, is financial management. The financial management function allows for the planning, organizing, monitori.
Evaluate the role of leadership on organizational behaviorProv.docxhumphrieskalyn
Evaluate the role of leadership on organizational behavior
Provide the name of the corporation you will be using as the basis for this project.
Provide the organization’s purpose or mission statement.
Describe the organization's industry.
Provide the name and position of the person interviewed during this portion of the assignment (indicate as much pertinent information (e.g., length of service with company, previous roles in the company, educational background, etc.).
Provide the list of interview questions you asked the manager/executive.
Indicate which two - three of the following concepts from this competency that you intend to evaluate the organization/team on and describe the company’s/team’s current situation with each topic you’ve selected:
Power and politics
Communication
Organizational leadership
Organizational structure
Organizational change
Provide citations in APA format for any references.
.
Evaluate the role that PKI plays in cryptography.Ensure that you.docxhumphrieskalyn
Evaluate the role that PKI plays in cryptography.
Ensure that your initial discussion posting has been created by Thursday of each week and then you respond to a minimum of two other learners during the week. Your response must build upon the initial learner's comments. Please ensure that you properly APA format your writing. 500 words.
You must also use a scholarly source
.
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Using established business models as investigative tools and linking them together to enhance their analytical value is proposed in this paper as a method of progressing from strategic situation analysis to competitive advantage. Moreover, internal analyses that result in the identification of distinctive competencies and external investigations that uncover industry key success factors give strategists the means to develop strategies that may achieve competitive advantage.
The term strategy is derived from the Greek word “Strategos” means a plan or process or a set of decision rules or an arrangement to create a common thread.
It is the path or the way to achieve the goals of the organization or corporate.
It helps the manager proactively to direct or run the organization in a volatile environment.
It consists of WH questions.
Mintzberg has defined the strategy which consists of “5Ps” such as: plan, pattern, position, ploy and perspective.
A Plan “how to achieve the target”.
A Pattern “to take consistent actions over time”.
A Position “to be achieved by offering goods and services in particular market”.
A Ploy “how to beat the competitors by using tactics and tricks with proper allocation and utilization of resources”.
A Perspective “it is the vision of the organization what it want to be”.
Characteristics:
Strategy is concerned with to achieve the broad goals of the organization.
It establishes unique value proposition compared to its competitors.
It provides tailored value to its customers.
It clearly identifies and clarifies what not to do.
It empowers the organization to move towards its vision.
It creates environmental scanning to gain competitive advantage.
External environment is the environment outside of the organization which influences the business. It can broadly be categorised into two parts: Micro Environment & Macro Environment.
Micro Environment studies the small area of business or immediate periphery of the organization. It directly influence and regulate the business.
E.g.: customers, suppliers, creditors, vendors, competitors and local community.
Macro Environment: It studies overall business activity in a broad manner. It influences business on the basis of “PEST”: Political, Economic, Socio-cultural and Technology.
Political Factors consists of employment laws, tax policy, policies regarding trade & tariffs, environmental regulation and political stability.
Economic Factors consists of economic growth, interest rate, exchange rate and inflation rate.
Socio-Cultural Factors consists of health consciousness, population growth rate, age, career attitude, emphasis on safety etc.
Technological Factor consists of R & D activity, automation, technology incentives and change in technology.
Internal Environment is a component of the business environment, which is composed of various elements present inside the organization that can affect and be affected by the decision of the organization and its activities.
The internal environment of the organization consists of employees, management, owner, shareholders, investors and all other resources.
Factors influencing external environment are: value system, vision, structure, culture, human resource, physical resource, technical-know-how etc.
The internal environment environmental analysis generates long list of resources and capabilities which play vital role in strategy formulation.
It determines the strength and weakness of the organization.
. Introduction to Corporate Strategy(CS))debajanipalai
The term strategy is derived from the Greek word “Strategos” means a plan or process or a set of decision rules or an arrangement to create a common thread.
It is the path or the way to achieve the goals of the organization or corporate.
It helps the manager proactively to direct or run the organization in a volatile environment.
It consists of WH questions.
Mintzberg has defined the strategy which consists of “5Ps” such as: plan, pattern, position, ploy and perspective.
A Plan “how to achieve the target”.
A Pattern “to take consistent actions over time”.
A Position “to be achieved by offering goods and services in particular market”.
A Ploy “how to beat the competitors by using tactics and tricks with proper allocation and utilization of resources”.
A Perspective “it is the vision of the organization what it want to be”.
Strategy is concerned with to achieve the broad goals of the organization.
It establishes unique value proposition compared to its competitors.
It provides tailored value to its customers.
It clearly identifies and clarifies what not to do.
It empowers the organization to move towards its vision.
It creates environmental scanning to gain competitive advantage.
External environment is the environment outside of the organization which influences the business. It can broadly be categorised into two parts: Micro Environment & Macro Environment.
Micro Environment studies the small area of business or immediate periphery of the organization. It directly influence and regulate the business.
E.g.: customers, suppliers, creditors, vendors, competitors and local community.
Macro Environment: It studies overall business activity in a broad manner. It influences business on the basis of “PEST”: Political, Economic, Socio-cultural and Technology.
Internal Environment is a component of the business environment, which is composed of various elements present inside the organization that can affect and be affected by the decision of the organization and its activities.
The internal environment of the organization consists of employees, management, owner, shareholders, investors and all other resources.
Factors influencing external environment are: value system, vision, structure, culture, human resource, physical resource, technical-know-how etc.
Strategic Advantage Profile (SAP) is a summary statement which provides an overview of the advantages and disadvantages in key areas which affect future operations of the organization.
It is the systematic evaluation of strategic advantage which is significant for the business and its environment.
It involves analysis of internal strength and weakness along with opportunities and threats by focusing on complete study of functional areas like: marketing, production, finance, accounting, personnel, R&D.
In this lesson you learned about the focus areas of determining a company’s strategic position and thereafter communicating its purpose to stakeholders. You learned that a company’s strategic position can be determined using tools such as PESTEL and SWOT analysis.
Running Head ECONOMICS AND ADMINISTRATION1ECONOMICS AND ADMI.docxtodd271
Running Head: ECONOMICS AND ADMINISTRATION 1
ECONOMICS AND ADMINISTRATION 5
ECONOMICS AND ADMINISTRATION
Khalia Hart
Dr. Touhey
MGMT 640 – Financial Decision Making for Managers
March 31, 2019
EXECUTIVE SUMMARY
For the success of every business, there needs to be a strong supporting factor that enforces success. The success of a business indicates that the structure of decision making is tough, strict but at the same time lenient to staff and more importantly customers. Financial management is a very vital factor to consider while engaging in any business activity. Not only is it concerned about customers and staff, but also affects every aspect of the business from managing cash flow and maintaining performance index to developing plans to ensure maximum use of opportunities by business owners. Stakeholders and business owners need to realize the importance of financial management as a tool in business administration since it is the force that ensures continuous development of financial capabilities needed for a business to achieve its full potential.
The macro-economic environment addresses issues concerning behavior. Here are where aAdministrative issues lie. Administration can be categorized into two main categories, administration as a practice and as a science. Administration as a practice mainly addresses the normal routine of business owners and managers and their normal administrative roles in any business entity. Administration as a scientific field is bound to face challenges which are broken down into four main classes. They are discussed fully in this document.
Factors that affect administrative decisions include globalization, cost of control, the relationship between stakeholders and demand on ethical behavior and corporate responsibility. Administrations in different organizations should always be keen to ensure that the named issues are always put under the eye . These factors can greatly affect the performance of a business entity as shall be discussed in this document. Comment by debra touhey: Good start, Khalia. The Executive Summary should explain the problems at hand with potential solutions to those problems. Here is a good reference on writing Executive Summaries:
https://www.inc.com/guides/2010/09/how-to-write-an-executive-summary.html
INTRODUCTION
Since time immemorial, business has always been a very important factor in society. To date, business transactions take place daily through the various business entities that have been established. In the modern world, however, various guidelines, strategies, and tools have been established to ensure that business practices go on smoothly (Robert et al., 2004). Comment by debra touhey: A little too informal for graduate writing
One of the practices that have been developed to ensure maximum productivity in the various entities that have been established, is financial management. The financial management function allows for the planning, organizing, monitori.
Evaluate the role of leadership on organizational behaviorProv.docxhumphrieskalyn
Evaluate the role of leadership on organizational behavior
Provide the name of the corporation you will be using as the basis for this project.
Provide the organization’s purpose or mission statement.
Describe the organization's industry.
Provide the name and position of the person interviewed during this portion of the assignment (indicate as much pertinent information (e.g., length of service with company, previous roles in the company, educational background, etc.).
Provide the list of interview questions you asked the manager/executive.
Indicate which two - three of the following concepts from this competency that you intend to evaluate the organization/team on and describe the company’s/team’s current situation with each topic you’ve selected:
Power and politics
Communication
Organizational leadership
Organizational structure
Organizational change
Provide citations in APA format for any references.
.
Evaluate the role that PKI plays in cryptography.Ensure that you.docxhumphrieskalyn
Evaluate the role that PKI plays in cryptography.
Ensure that your initial discussion posting has been created by Thursday of each week and then you respond to a minimum of two other learners during the week. Your response must build upon the initial learner's comments. Please ensure that you properly APA format your writing. 500 words.
You must also use a scholarly source
.
Evaluate the presence and effects of alteration in the homeostatic s.docxhumphrieskalyn
Evaluate the presence and effects of alteration in the homeostatic state secondary to gender, genetic, ethnic and temporal variables
Select one of the case studies below, and include in your discussion an evaluation of the presence and effects of alteration in the homeostatic state secondary to gender, genetic, ethnic, and temporal variables.
Requirements:
Make sure all of the topics in the case study have been addressed.
Cite at least three sources; journal articles, textbooks or evidenced-based websites to support the content.
All sources must be within 5 years.
Do not use .com, Wikipedia, or up-to-date, etc., for your sources.
Case Study 1
Structure and Function of the Respiratory System
Brad is 45 years old and has been working as a coal cutter in a mine for the last 25 years. He likes the job because it pays well and the same mine had employed his father. Like many of his colleagues, Brad has had problems with a chronic cough. He has avoided his annual checkups for fear that he will be told he has “black lung,” or coal worker’s pneumoconiosis. The disease causes fibrosis, decreased diffusing capacity, and permanent small airway dilation. In later stages, pulmonary capillaries, alveoli, and airways are destroyed.
How can the disease described above create a mismatch between ventilation and perfusion? Use your understanding of alveolar dead space and physiologic shunt to explain your answer.
Individuals with chronic obstructive pulmonary disease have more difficulty exhaling than inhaling. Why is this so?
In general terms, what mechanisms in lung disease can affect diffusing capacity across alveolar membranes? Use the Fick law to explain your answer.
Case Study 2
Respiratory Tract Infections, Neoplasms, and Childhood Disorders
Patricia was called at work by a woman at the local daycare center. She told Patricia to come and pick up her son because he was not feeling well. Her son, three-and-a-half-year-old Marshall, had been feeling tired and achy when he woke up. While at daycare, his cheeks had become red and he was warm to touch. He did not want to play with his friends, and by the time Patricia arrived, he was crying. Later that afternoon, Marshall’s condition worsened. He had fever, chills, a sore throat, runny nose, and a dry hacking cough. Suspecting Marshall had influenza, Patricia wrapped him up and took him to the community health care clinic.
Why did Marshall’s presentation lead Patricia to think he had influenza and not a cold? Why is it important to medically evaluate and diagnose a potential influenza infection?
Describe the pathophysiology of the influenza virus. Outline the properties of influenza A antigens that allow them to exert their effects in the host.
Marshall may be at risk at contracting secondary bacterial pneumonia. Why is this so? Explain why cyanosis may be a feature associated with pneumonia.
Case Study 3
Disorders of Ventilation and Gas Exchange
Emmanuel and his mother live in an.
Evaluate the role of a digital certificate in cryptography. How doe.docxhumphrieskalyn
Evaluate the role of a digital certificate in cryptography. How does it impact the security posture of an organization?
Write a minimum of 2 to pages
The Paper must include scholarly references of 2
Make sure to follow APA Guidelines
.
Evaluate the merits of Piaget’s stage theory for explaining cognitiv.docxhumphrieskalyn
Evaluate the merits of Piaget’s stage theory for explaining cognitive development.
Discuss evidence that supports his theory as well as evidence that calls it into question.
Discuss your personal opinions about stage theories in general. Who are some of the major detractors and how would you address them?
.
Evaluate the notion that white collar offenders are intrinsically di.docxhumphrieskalyn
Evaluate the notion that white collar offenders are intrinsically different from non-offenders. What are the principal elements of the demonic, biogenetic, psychological and sociogenic perspectives on this question, and the evidence for an answer to the question within these perspectives? Which individualistic attributes of white collar offenders do you regard as meriting further systematic study, and why?
.
EV 551 Hazardous Materials Assessment – Summer2020Homework 1 – 4.docxhumphrieskalyn
EV 551 Hazardous Materials Assessment – Summer2020
Homework 1 – 40 points
1. Which of the following is not a part of the HAZWOPER process:
a.
Recognition of hazards
b.
Evaluation of hazards
c.
Control of hazards
d.
Information gathering
e.
Safety from hazards
f.
All are part of the process
2.
Hazardous waste site workers must:
a.
Receive 40-hour OSHA 1910.120 training plus 24 hours of field supervision if exposed over the PEL
b.
Receive 40-hour training plus 8 hours field supervision if exposed below the PEL and when respirators are not required
c.
8-hour annual refresher training
d.
All of the above
3.
First Responder Operations level training allows persons to:
a.
Witness or discover a release
b.
Perform defensive actions
c.
Stop the release
d.
A and B are true
e.
All of the above
4.
Recognition of hazards includes:
a.
Identifying the materials involved in the release
b.
Identifying the degree of hazards present
c.
Provide the level of protection needed for site workers
d.
A and B are correct
e.
All of the above
5.
The most important response activity at a hazardous waste work site is:
a.
Evaluation of hazards
b.
Control of hazards
c.
Recognition of hazards
d.
Safety precautions
6.
Frequent hazard types found at response sites include:
a.
Physical hazards
b.
Biological hazards
c.
Chemical hazards
d.
Mechanical hazards
e.
All of the above
7.
The purpose of initial control activities is to:
a.
Immediately assess clean up alternatives
b.
Provide time to responders to address long-term hazards
c.
Slowly size up response activities
d.
Both A and B are correct
e.
None of the above
8.
Spill reporting is covered by which of these federal regulations:
a.
Superfund
b.
DOT
c.
RCRA
d.
Clean Water Act
e.
A, B, and D are correct
9.
The effects of toxic materials on the human body are determined by:
a.
Routes of exposure
b.
Dose
c.
Duration and frequency of exposure
d.
All of the above
10.
What are the four major pathways that chemical substances can enter the body?
a.
___________________________________________________
b.
___________________________________________________
c.
___________________________________________________
d.
___________________________________________________
11.
What is the primary route of exposure to hazardous waste site workers or incident
responders?
a.
Ingestion
b.
Dermal absorption
c.
Inhalation
d.
Both a and b are correct
12.
Dermal absorption may occur with which form(s) of a chemical:
a.
Solid
b.
Liquid
c.
Aerosol
d.
Mist
e.
All of the above
13.
The dose-response curve illustrates:
a.
The indirect relationship between dose and response
b.
The direct relationship between dose and response
c.
The average number of affected individuals
d.
None of the above
14.
For most chemicals, a low dose does that does not show an appreciable hazard to exposed individuals is called the:
a.
LOAEL
.
Evaluate the history of cryptography from its origins. Analyze how .docxhumphrieskalyn
Evaluate the history of cryptography from its origins. Analyze how cryptography was used and describe how it grew within history.
The writing assignment requires a minimum of two written pages to evaluate the history. You must use a minimum of three scholarly articles to complete the assignment. The assignment must be properly APA formatted with a separate title and reference page.
.
Evaluate the evidence provided by Apollo Shoes.Decide how to s.docxhumphrieskalyn
Evaluate
the evidence provided by Apollo Shoes.
Decide
how to structure the audit report for the provided evidence.
Compose
an audit report
reflecting the appropriate length, sections, and content for the provided information.
Include
a description of the evidence, the accounting sampling and testing procedures used, and a brief description of the value of the audit report
Can anyone do this assignement. It is due by 9pm 11/12/2012 Eastern Standard Time..
.
Evaluate the Health History and Medical Information for Mrs. J.,.docxhumphrieskalyn
Evaluate the Health History and Medical Information for Mrs. J., presented below.
Based on this information, formulate a conclusion based on your evaluation, and complete the Critical Thinking Essay assignment, as instructed below.
Health History and Medical Information
Health History
Mrs. J. is a 63-year-old married woman who has a history of hypertension, chronic heart failure, and chronic obstructive pulmonary disease (COPD). Despite requiring 2L of oxygen/nasal cannula at home during activity, she continues to smoke two packs of cigarettes a day and has done so for 40 years. Three days ago, she had sudden onset of flu-like symptoms including fever, productive cough, nausea, and malaise. Over the past 3 days, she has been unable to perform ADLs and has required assistance in walking short distances. She has not taken her antihypertensive medications or medications to control her heart failure for 3 days. Today, she has been admitted to the hospital ICU with acute decompensated heart failure and acute exacerbation of COPD.
Subjective Data
Is very anxious and asks whether she is going to die.
Denies pain but says she feels like she cannot get enough air.
Says her heart feels like it is "running away."
Reports that she is exhausted and cannot eat or drink by herself.
Objective Data
Height 175 cm; Weight 95.5kg.
Vital signs: T 37.6C, HR 118 and irregular, RR 34, BP 90/58.
Cardiovascular: Distant S1, S2, S3 present; PMI at sixth ICS and faint: all peripheral pulses are 1+; bilateral jugular vein distention; initial cardiac monitoring indicates a ventricular rate of 132 and atrial fibrillation.
Respiratory: Pulmonary crackles; decreased breath sounds right lower lobe; coughing frothy blood-tinged sputum; SpO2 82%.
Gastrointestinal: BS present: hepatomegaly 4cm below costal margin.
Intervention
The following medications administered through drug therapy control her symptoms:
IV furosemide (Lasix)
Enalapril (Vasotec)
Metoprolol (Lopressor)
IV morphine sulphate (Morphine)
Inhaled short-acting bronchodilator (ProAir HFA)
Inhaled corticosteroid (Flovent HFA)
Oxygen delivered at 2L/ NC
Critical Thinking Essay
In 750-1,000 words, critically evaluate Mrs. J.'s situation. Include the following:
Describe the clinical manifestations present in Mrs. J.
Discuss whether the nursing interventions at the time of her admissions were appropriate for Mrs. J. and explain the rationale for each of the medications listed.
Describe four cardiovascular conditions that may lead to heart failure and what can be done in the form of medical/nursing interventions to prevent the development of heart failure in each condition.
Taking into consideration the fact that most mature adults take at least six prescription medications, discuss four nursing interventions that can help prevent problems caused by multiple drug interactions in older patients. Provide a rationale for each of the interventions you recommend.
Provide a health promotion .
Evaluate the current state of the health care system in Sacramento. .docxhumphrieskalyn
Evaluate the current state of the health care system in Sacramento. Read local newspaper articles, watch videos, and explore government and health care sites for information about challenges to the city’s health care needs (shortages, financial difficulties, privacy issues, etc.).
Propose a new or improved health care service that you would introduce into the community. Explain why the service is needed and how it would improve the community.
Design a new health care facility that would offer a new or an improved service to the community. Present a floor plan of the facility that includes the surface area, purpose for, and description of each space.
Write a 700 - to 1,050–word report about the state of health care in your selected city, your proposal for a new or improved service, and the floor plan of a facility to implement that service.
.
Evaluate the advantages and disadvantages of the various decis.docxhumphrieskalyn
Evaluate the advantages and disadvantages of the various decision-making tools listed (e.g., regular payback, discounted payback, net present value (NPV), internal rate of return (IRR), and modified internal rate of return).
Describe a project scenario in which you would recommend one method, or a combination of methods, as being more effective than others. Draw from your professional experience and/or additional research, and provide a rationale for your recommendation.
.
Evaluate some technologies that can help with continuous monitoring..docxhumphrieskalyn
Evaluate some technologies that can help with continuous monitoring. One example of many is Cyberscope, an automated reporting tool for security reporting that receives recurring data feeds to assess the security posture of IT systems. Discuss the pros and cons of using continuous monitoring tools and make other suggestions to improve continuous monitoring.
In the second week, discuss the major challenges in continuous monitoring of information systems security.
*will send 2 classmates after completion of discussion so you can respond!
.
Evaluate progress on certification plansReport your prog.docxhumphrieskalyn
Evaluate progress on certification plans
Report your progress on the Certification Plan completed in Week 1 and submitted in Week 4.
What have you done to prepare for your certification?
Have you completed the scheduled tasks assigned on your timeline? If not, what are your plans to stay on schedule?
Rubric:
Quality of Work Submitted:
The extent of which work meets the assigned criteria and work reflects graduate level critical and analytic thinking.--
Quality of Work Submitted:
The purpose of the paper is clear.--
Written Expression and Formatting
Paragraph and Sentence Structure: Paragraphs make clear points that support well developed ideas, flow logically, and demonstrate continuity of ideas. Sentences are clearly structured and carefully focused--neither long and rambling nor short and lacking substance.--
.
Evaluate how you have achieved course competencies and your plans to.docxhumphrieskalyn
Evaluate how you have achieved course competencies and your plans to develop further in these areas. The course competencies for this course are as follows:
Explore the historical evolution of the advance practice nurse.
Differentiate the roles and scope of practice for nurses working in advanced clinical, education, administration, informatics, research, and health policy arenas.
Analyze attributes of the practice arena such as access and availability, degree of consumer choice, competition, and financing that impact advanced practice nurses and their ability to effectively collaborate with other health professionals.
Integrate evidence from research and theory into discussions of practice competencies, health promotion and disease prevention strategies, quality improvement, and safety standards.
Identify collaborative, organizational, communication, and leadership skills in working with other professionals in healthcare facilities and/or academic institutions.
Synthesize knowledge from values theory, ethics, and legal/regulatory statutes in the development of a personal philosophy for a career as an advanced practice nurse.
.
Evaluate how information privacy and security relates to the Interne.docxhumphrieskalyn
Evaluate how information privacy and security relates to the Internet, which is the major information conduit for businesses and individuals.
Write a paragraph of at least 200 words addressing the following: Explain how your expectations for Internet privacy differ for the following situations: Accessing the web at home, at work, and in a public setting, such as a library computer lab or Wi–Fi zone. What is the basis for your expectations? Is it legal to use your neighbors’ wireless Internet signal? Is it ethical? Explain your reasoning.
.
Evaluate assessment of suicide in forensic settings andor cri.docxhumphrieskalyn
Evaluate assessment of suicide in forensic settings and/or criminal justice institutions by addressing the following:
Who would serve on the task force?
Who would be involved in suicide prevention or identification if you were able to intervene at the institution?
What would the interventions look like? What would be some of the policies and procedures that you might implement to ensure that best practices are met?
Provide specific examples based on your current or future forensic role.
Include an analysis of your own prejudices and biases regarding inmate suicides (e.g., consider a child murderer).
.
Evaluate different approaches to ethical decision making. Then, choo.docxhumphrieskalyn
Evaluate different approaches to ethical decision making. Then, choose one of them to apply to an ethical issue you have identified.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:
Competency 1: Evaluate the parameters for ethical decision making in 21st century multicultural business environments.
Evaluate the parameters of various ethical decision-making approaches.
Competency 3: Evaluate organizational policy within the framework of ethical standards.
Analyze an ethical dilemma using an ethical decision-making approach.
Assess the validity of a resolution suggested by a selected ethical decision-making approach.
Competency 4: Communicate effectively.
Communicate the analysis of ethical decision making clearly and effectively.
.
Evaluate and grade websites in terms of their compliance with PL pri.docxhumphrieskalyn
Evaluate and grade websites in terms of their compliance with PL principles. You will first do this with a local government site (Project 1a) and then with a federal site (Project 1b). You will perform the same analysis and evaluation that is done by those who volunteer with the Center for Plain Language to review and grade federal websites as part of the plain language Federal Report Card.
.
Evaluate at least (2) factors that make financial statement analys.docxhumphrieskalyn
Evaluate at least (2) factors that make financial statement analysis essential to management, investors, and creditors. Provide a rationale for your response.
Imagine you are considering investing in a corporation. Examine the key information you would look for in a company’s financial statements and explain why this information would be important to you. Suggest at least two (2) financial statement analysis tools you would use to evaluate this company’s financial statements. Provide a rationale for your suggestions.
.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
Personal development courses are widely available today, with each one promising life-changing outcomes. Tim Han’s Life Mastery Achievers (LMA) Course has drawn a lot of interest. In addition to offering my frank assessment of Success Insider’s LMA Course, this piece examines the course’s effects via a variety of Tim Han LMA course reviews and Success Insider comments.
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
2. A Comprehensive Strategic-Management Model
C h a p t e r 10: B u s i n e s s E t h i c s / S o c i a l R e s p o n
s i b i l i t y / E n v i r o n m e n t a l S u s t a i n a b i l i t y I s
s u e s )
P e r f o r m
E x t e r n a l A u d i t
C h a p t e r 3
Develop Vision
and Mission
Statements
Chapter 2
Estabiisli
Long-Term
Objectives
Chapter 5
Perform
Internal Audit
Chapter 4
Generate,
Evaluate,
and Select
Strategies
Chapter 6
Implement
S t r a t e g i e s -
Management
3. Issues
Chapter 7
Implement
Strategies-
Marketing,
Rnance,
Accounting, R&D,
and MIS Issues
Chapters
Measure
and Evaluate
Performance
Chapter 9
C h a p t e r 11: G l o b a l / i n t e r n a t i o n a l I s s u e s )
S t r a t e g y
F o r m u l a t i o n
S t r a t e g y
I m p l e m e n t a t i o n
S t r a t e g y _
E v a l u a t i o n
nirce: Fred R. David, "How Companies Define Their Mission,"
Long Range Planning 22, no. 3 (June 1988); 40.
4. 62 P A R T 2 • S T R A T E G Y F O R M U L A T I O N
Relationships Between Key External Forces and an
Organization
Economic forces
Social, c u l t u r a l , demographic, and
environment natural forces
P o l i t i c a l , legal, and governmental forces
Technological forces
Competitive forces
Competitors
Suppliers
Distributors
Creditors
Customers
Employees
Communities
Managers
Stockholders
Labor unions
Governments
Trade associations
Special interest groups
Products
5. Services
Markets
N a t u r a l environment
A N O R G A N I Z A T I O N ' S
O P P O R T U N I T I E S A N D
T H R E A T S
global economic recession, significanlly affect products,
services, markets, and organizadons
worldwide. The U.S. unemployment rate climbed to over 9
percent in July 2009 as more than
2.5 million jobs were lost in the United States in 2008—the
most since 1945 when the coun-
try downsized from the war effort. The rate is expected to rise
to 10.1 percent. A l l sectors
witness rising unemployment rates, except for education,
health-care services, and govern-
ment employment. Many Americans are resorting to minimum
wage jobs to make ends meet.
Changes in external forces translate into changes in consumer
demand for both indus-
trial and consumer products and services. External forces affect
the types of products
developed, the nature of positioning and market segmentation
strategies, the type of
services offered, and the choice of businesses to acquire or sell.
External forces directly
affect both suppliers and distributors. Identifying and
evaluating external opportunities and
threats enables organizations to develop a clear mission, to
design strategies to achieve
long-term objectives, and to develop policies to achieve anntial
6. objectives.
The increasing complexity of business today is evidenced by
more countries developing
the capacity and will to compete aggressively in world maikets.
Foreign businesses and coun-
tries aie willing to learn, adapt, innovate, and invent to compete
successfully in the maiket-
place. There aie more competitive new technologies in Europe
and Asia today than ever before.
The Process of Perirwrning an EKternal AudVi
The process of performing an external audit must involve as
many managers and employ-
ees as possible. As emphasized in eaiiier chapters, involvement
in the strategic-management
process can lead to understanding and commitment from
organizational members.
Individuals appreciate having the opportunity to contribute
ideas and to gain a better
understanding of their firms' industry, competitors, and markets.
To perform an external audit, a company first must gather
competitive intelligence and
information about economic, social, cultural, demographic,
environmental, political,
governmental, legal, and technological trends. Individuals can
be asked to monitor various
sources of information, such as key magazines, trade journals,
and newspapers. These
persons can submit periodic scanning reports to a committee of
managers charged with
performing the external audit. This approach provides a
continuous stream of timely
strategic information and involves many individuals in the
external-audit process. The
7. Internet provides another source for gathering strategic
information, as do corporate,
university, and public libraries. Suppliers, distributors,
salespersons, customers, and com-
petitors represent other sources of vital information.
C H A P T E R 3 • T H E E X T E R N A L A S S E S S M E N
T 63
Once information is gathered, it should be assimilated and
evaluated. A meeting or series
of meetings of managers is needed to collectively identify the
most important opportunities
and threats facing the firm. These key external factors should be
hsted on flip charts or a chalk-
board. A prioritized list of these factors could be obtained by
requesting that all managers rank
the factors identified, from 1 for the most important
opportunity/threat to 20 for the least
important opportunity/tlii'eat. These key external factors can
vary over time and by industry.
Relationships with supphers or distiibutors ai'e often a critical
success factor Other variables
commonly used include market share, breadth of competing
products, world economies,
foreign affiliates, proprietary and key account advantages, price
competitiveness, technologi-
cal advancements, population shifts, interest rates, and pollution
abatement.
Freund emphasized that these key external factors should be (1)
important to achiev-
ing long-term and annual objectives, (2) measurable, (3)
applicable to all competing firms,
8. and (4) hierarchical in the sense that some will pertain to the
overall company and others
w i l l be more narrowly focused on functional or divisional
areas.' A final list of the most
important key external factors should be commnnicated and
distributed widely in the orga-
nization. Both opportunities and threats can be key external
factors.
TIhe Soidustrial O r g a n i s a t i o n fi/O) V i e w
The Industrial Organization (I/O) approach to competitive
advantage advocates that
external (industry) factors are more important than internal
factors in a firm achieving
competitive advantage. Proponents of the I/O view, such as
Michael Porter, contend that
organizational performance w i l l be primarily determined by
industry forces. Porter's Five-
Forces Model, presented later in this chapter, is an example of
the I/O perspective, which
focuses on analyzing external forces and industry variables as a
basis for getring and
keeping competitive advantage. Competitive advantage is
determined largely by competi-
tive positioning within an industry, according to 1/0 advocates.
Managing strategically
from the I/O perspective entails firms striving to compete in
attractive industries, avoiding
weak or faltering industries, and gaining a full understanding of
key external factor rela-
tionships within that attractive industry. I/O research provides
important contributions to
our understanding of how to gain competitive advantage.
I/O theorists contend that external factors in general and the
industry in which a firm
9. chooses to compete has a stronger influence on the firm's
performance than do the internal
functional decisions managers make in mai'keting, finance, and
the like. Firm performance,
they contend, is primarily based more on industry properties,
such as economies of scale,
baiTJers to market entry, product differentiation, the economy,
and level of competitiveness
than on internal resources, capabilities, structure, and
operations. The global economic
recession's impact on both strong and weak firms has added
credence of late to the notion
that external forces are more important than internal. Many
thousands of internally strong
firms in 2006-2007 disappeared in 2008-2009.
The I/O view has enhanced our understanding of strategic
management. However, it is
not a question of whether external or internal factors are more
important in gaining and
maintaining competitive advantage. Effective integration and
understanding of both exter-
nal and internal factors is the key to securing and keeping a
competitive advantage. In fact,
as discussed in Chapter 6, matching key external
opportunities/threats with key internal
strengths/weaknesses provides the basis for successful strategy
formulation.
Economic Forces
Increasing numbers of two-income households is an economic
trend in the United States.
Individuals place a premium on time. Improved customer
service, immediate availability,
trouble-free operation of products, and dependable maintenance
and repair services are
10. becoming more important. People today ai-e more willing than
ever to pay for good service
i f it limits inconvenience.
Economic factors have a direct impact on the potential
attractiveness of various strate-
gies. For example, when interest rates rise, funds needed for
capital expansion become
66 P A R T 2 • S T R A T E G Y F O R M U L A T I O N
Social, Cultural, Demographic, and Natural
Environment Forces
Social, cultural, demographic, and environmental changes have
a major impact on virtually
all products, services, markets, and customers. Small, large, for-
profit, and nonprofit
organizations in all industries are being staggered and
challenged by the opportunities and
threats arising from changes in social, cultural, demographic,
and environmental variables.
In every way, the United States is much different today than it
was yesterday, and tomor-
row promises even greater changes.
The United States is getting older and less white. The oldest
members of America's
76 million baby boomers plan to retire in 2011, and this has
lawmakers and younger
taxpayers deeply concerned about who w i l l pay their Social
Security, Medicare, and
Medicaid. Individuals age 65 and older in the United States as a
percentage of the popula-
tion will rise to 18.5 percent by 2025. The five "oldest" states
11. and five "youngest" states in
2007 are given in Table 3-4.
By 2075, the United States w i l l have no racial or ethnic
majority. This forecast is
aggravating tensions over issues such as immigration and
affirmative action. Hawaii,
California, and New Mexico already have no majority race or
ethnic group.
The population of the world surpassed 7.0 billion in 2010; the
United States has
just over 310 million people. That leaves billions of people
outside the United States
who may be interested in the products and services produced
through domestic
firms. Remaining solely domestic is an increasingly risky
strategy, especially as the
world population continues to grow to an estimated 8 billion in
2028 and 9 b i l l i o n
in 2054.
Social, cultural, demographic, and environmental trends are
shaping the way
Americans live, work, produce, and consume. New trends are
creating a different type of
consumer and, consequently, a need for different products,
different services, and different
strategies. There are now more American households with
people living alone or with
unrelated people than there are households consisting of
married couples with children.
American households are making more and more purchases
online. Beer consumption in
the United States is growing at only 0.5 percent per year,
whereas wine consumption is
12. growing 3.5 percent and distilled spirits consumption is growing
at 2.0 percent.^ Beer is
still the most popular alcoholic beverage in the United States,
but its market share has
dropped from 59.5 percent in its peak year of 1995 to 56.7
percent today. For a wine
company such as Gallo, this trend is an opportunity, whereas for
a firm such as Adolph
Coors Brewing, this trend is an external threat.
The trend toward an older America is good news for restaurants,
hotels, airlines, caiise
lines, tours, resorts, theme parks, luxury products and services,
recreational vehicles, home
builders, furniture producers, computer manufacturers, travel
services, pharmaceutical
firms, automakers, and funeral homes. Older Americans are
especially interested in health
care, financial services, travel, crime prevention, and leisure.
The world's longest-living
people are the Japanese, with Japanese women living to 86.3
yeai's and men living to 80.1
years on average. By 2050, the Census Bureau projects that the
number of Americans age
100 and older will increase to over 834,000 from just under
100,000 centenarians in the
The Oldest and Youngest States
by Average Age of Residents
Five Oldest States Five Youngest States
M a i n e U t a h
Vermont Texas
West V i r g i n i a A l a s k a
13. F l o r i d a I d a h o
Pennsylvania C a l i f o r n i a
Source: Based on U.S. Census Bureau. Also, Ken Jaclcson,
"State
Population Changes by Race, Ethnicity," USA Today (May 17,
2007): 2A.
C H A P T E R S • T H E E X T E R N A L A S S E S S M E N
T 67
United States in 2000. Americans age 65 and over will increase
from 12.6 percent of the
U.S. population in 2000 to 20.0 percent by the year 2050.
The aging American population affects the strategic orientadon
of nearly all organizations.
Apartment complexes for the elderly, with one meal a day,
transportation, and utilities included
in the rent, have increased nationwide. Called lifecare facilities,
these complexes now exceed
2 million. Some well-known companies building these facilities
include Avon, Marriott, and
Hyatt. Individuals age 65 and older in the United States
comprise 13 percent of the total popu-
lation; Japan's elderly population ratio is 17 percent, and
Germany's is 19 percent.
Americans were on the move in a population shift to the South
and West (Sunbelt) and
away from the Northeast and Midwest (Frostbelt), but the
recession and housing bust nation-
14. wide has slowed migration throughout the United States. More
Americans are staying in place
rather than moving. New jobs are the primary reason people
move across state lines, so with
3 million less jobs in the United States in 2008-2009 alone,
there is less need to move. Falling
home prices also have prompted people to avoid moving. The
historical trend of people
moving from the Northeast and Midwest to the Sunbelt and
West has dramatically slowed.
The worldwide recession is also reducing international
immigration, down roughly 10 percent
in both 2008 and 2009. Hard number data related to this
information can represent key oppor-
tunities for many firms and thus can be essential for successful
strategy formulation, including
where to locate new plants and distribution centers and where to
focus marketing efforts.
A summary of important social, cultural, demographic, and
environmental variables
that represent opportunities or threats for virtually all
organizations is given in Table 3-5.
.li S'O Key Social, Cultural, Demographic, and Natural
Environment Variables
C h i l d b e a r i n g rates
N u m b e r o f special-interest groups
N u m b e r o f martiagcs
N u m b e r o f divorces
N u m b e r o f births
15. N u m b e r o f deaths
I m m i g r a t i o n and e m i g r a t i o n rates
Social Security programs
L i f e expectancy rates
Per capita income
L o c a t i o n o f r e t a i l i n g , manufacturing,
and service businesses
A t t i t u d e s t o w a r d business
Lifestyles
Traffic congestion
Inner-city environments
Average disposable i n c o m e
T r u s t in government
A t t i t u d e s toward government
Attitudes toward w o r k
B u y i n g habits
E t h i c a l concerns
Attitudes t o w a r d saving
16. Sex roles
A t t i t u d e s toward investing
Racial e q u a l i t y
L'se o f b i r t h c o n t r o l
Average level o f education
Gc'vemment regulation
A t t i t u d e s toward retirement
A t t i t u d e s toward leisure t i m e
A t t i t u d e s toward product q u a l i t y
A t t i t u d e s toward customer service
P o l l u t i o n control
Attitudes toward foreign peoples
Energy conservation
Social programs
N u i n b e r o f churches
N u m b e r o f church members
Social responsibility
A t t i t u d e s toward careers
17. Population changes by race, age, sex, and
level o f affluence
Attitudes toward authority
Population changes by city, county, state,
region, and country
Value placed on leisure t i m e
Regional changes i n tastes and preferences
N u m b e r o f w o m e n and m i n o r i t y workers
N u m b e r o f h i g h s c h o o l and college
graduates by geographic area
R e c y c l i n g
Waste management
A i r p o l l u t i o n
Water p o l l u t i o n
Ozone depletion
Endangered species
68 P A R T 2 • S T R A T E G Y F O R M U L A T I O N
18. Political, Governmental, i j i i r ^ s
Federal, state, local, and foreign governments are major
regulators, deregulators, subsi-
dizers, employers, and customers of organizations. Political,
governmental, and legal
factors, therefore, can represent key opportunities or threats for
both small and large
organizations.
For industries and firms that depend heavily on government
contracts or subsidies,
political forecasts can be the most important part of an external
audit. Changes in patent
laws, antitrust legislation, tax rates, and lobbying activities can
affect firms significantly.
The increasing global interdependence among economies,
markets, governments, and
organizations makes it imperative that firms consider the
possible impact of political
variables on the formulation and implementation of competitive
strategies.
In the face of a deepening global recession, countries worldwide
are resorting to pro-
tecfionism to safeguard their own industries. European Union
(EU) nations, for example,
have tightened their own trade rules and resumed subsidies for
various of their own indus-
tries while baning imports from certain other countries. The EU
recently restricted imports
of U.S. chicken and beef India is increasing tariffs on foreign
steel. Russia perhaps has
instituted the most protectionist measures in recent months by
raising tariffs on most
imports and subsidizing its own exports. Russia even imposed a
19. new toll on trucks from the
EU, Switzerland, and Turkmenistan. Despite these measures
taken by other countries, the
United States has largely refrained from "Buy American"
policies and protectionist
measures, although there are increased tariffs on French cheese
and Italian water. Many
economists say the current rash of trade constraints w i l l make
it harder for global
economic growth to recover from the global recession. Global
trade is expected to decrease
2.1 percent in 2009 compared to an increase of 6.2 percent in
2008.-' Russia has said that
"protective tariffs are necessary to allow Russian companies to
survive the recession." This
view unfortunately is also the view at an increasing number of
countries.
Governments are taking control of more and more companies as
the global economic
recession cripples firms considered vital to the nation's
financial stabihty. For example, France
in 2009 took a 2.35 percent equity stake in troubled car-parts
maker Valeo SA. President
Nicolas Sarkozy of France has created a $20 bUlion strategic
fund to lend cash to banks and car-
makers as many governments become more protectionist. The
United States of course also is
taking equity stakes in financial institutions and carmakers and
is "bailing out" companies too.
The UK government in 2009 took a 95 percent stake in the
banking giant Royal Bank
of Scotland Group PLC in a dramafic move toward
nationalization. The government gave
the bank $37 billion and insured another $300 billion of the
20. bank's assets. The U K govern-
ment also recently increased its stake in Lloyds Banking Group
PLC to 75 percent.
Similarly, the U.S. government has taken over Fannie Mae and
Freddie Mac and has raised
its stake even in Citigroup to 40 percent.
As more and more companies around the world accept
government bailouts, those
companies are being forced to march to priorities set by
political leaders. Even in the
United States, the federal government is battling the recession
with its deepest intervention
in the economy since the Great Depression. The U.S.
government now is a strategic man-
ager in industries from banking to insurance to autos.
Governments worldwide are under
pressure to protect jobs at home and maintain the nation's
industrial base. For example, in
France, Renault SA's factory in Sandouville is one of the most
unproducfive auto factories
in the world. However, Renault has taken $3.9 billion in low-
interest loans from the French
government, so the company cannot close any French factories
for the duration of the loan
or resort to mass layoffs in France for a year.
Political relations between Japan and China have thawed
considerably in recent
years, which is good for the world economy because China's
low-cost manufactured
goods have become essenrial for the functioning of most
industrialized nations. Chinese
premier Wen Jiabao addressed the Japanese parliament in 2007,
something no Chinese
leader has done for more than 20 years, and Japanese prime
21. minister Shinzo Abe has
visited Beijing. Japan's largest trading partner is China, and
China's third-largest
trading partner is Japan—after the European Union, number
one, and the United States,
number two.
C H A P T E R S • T H E E X T E R N A L A S S E S S M E N
T 69
Some Political, Governmental, and Legal Variables
G o v e m m e n t regulations or
deregulations
Changes i n tax laws
Special tariffs
P o l i t i c a l action committees
Voter participation rates
Number, severity, and location o f government
protests
N u m b e r o f patents
Changes i n patent laws
E n v i r o n m e n t a l protection laws
L e v e l o f defense expenditures
22. L e g i s l a t i o n on equal e m p l o y m e n t
L e v e l o f government subsidies
A n t i t r u s t legislation
S i n o - A m e r i c a n relationships
R u s s i a n - A m e r i c a n relationships
E u r o p e a n - A m e r i c a n relationships
A f r i c a n - A m e r i c a n relationships
I m p o r t - e x p o r t regulations
G o v e r n m e n t fiscal and monetary p o l i c y
changes
P o l i t i c a l c o n d i t i o n s i n f o r e i g n countries
Special l o c a l , state, and federal laws
L o b b y i n g activides
Size o f government budgets
W o r l d o i l , currency, and labor markets
L o c a t i o n and severity o f terrorist activides
L o c a l , state, and national elections
Local, state, and federal laws; regulatory agencies; and special-
interest groups can
have a major impact on the strategies of sinall, large, for-profit,
23. and nonprofit organiza-
tions. Many companies have altered or abandoned strategies in
the past because of politi-
cal or governmental actions. In the academic world, as state
budgets have dropped in
recent years, so too has state support for colleges and
universities. Due to the decline in
monies received from the state, many institutions of higher
learning are doing more fund-
raising on their own—naming buildings and classrooms, for
example, for donors. A sum-
mary of political, governmental, and legal variables that can
represent key opportunities or
threats to organizations is provided in Table 3-6.
Technological Forces
Revolutionary technological changes and discoveries are having
a dramatic impact on
organizations. CEO Chris DeWolfe of MySpace is using
technology to expand the firin's
1,600-person workforce in 2009 even as the economic recession
deepens. MySpace
expects a 17 percent increase in revenue in 2009. Nearly half of
the site's 130 million
members worldwide are 35 and older, and 76 million of the
members are from the United
States. This conrpares to rival Facebook that has 150 million
members worldwide but only
55 miUion in the United States. MySpace is continually
redesigning the site and revamping
the way its members can manage their profiles and categorize
their friends, and enabling
consumers to listen to free streaming audio and songs. Doug
Morris, CEO of Universal
Music Group, says, "There is a lot of conflict between
technology and content, and Chris
24. has successfully brought both together.'"*
The Internet has changed the very nature of opportunities and
threats by altering the
life cycles of products, increasing the speed of distribution,
creating new products and
services, erasing limitations of traditional geographic markets,
and changing the historical
trade-off between production standardization and flexibility.
The Internet is altering
economies of scale, changing entry barriers, and redefining the
relationship between
industries and various suppliers, creditors, customers, and
competitors.
To effectively capitalize on e-commerce, a number of
organizations are establishing
two new positions in their firins: chief information officer
(CIO) and chief technology
officer (CTO). This trend reflects the growing importance of
information technology (IT)
in strategic management. A CIO and CTO work together to
ensure that information needed
to formulate, implement, and evaluate strategies is available
where and when it is needed.
These individuals are responsible for developing, maintaining,
and updating a company's
70 P A R T 2 • S T R A T E G Y F O R M U L A T I O N
information database. The CIO is more a manager, managing the
firm's relationship with
stakeholders; the CTO is more a technician, focusing on
technical issues such as data
25. acquisition, data processing, decision-support systems, and
software and hardware
acquisition.
Technological forces represent major opportunities and threats
that must be consid-
ered in formulating strategies. Technological advancements can
dramatically affect
organizations' products, services, markets, suppliers,
distributors, competitors, customers,
manufacturing processes, marketing practices, and competitive
position. Technological
advancements can create new markets, result in a proliferation
of new and improved prod-
ucts, change the relative competitive cost positions in an
industry, and render existing
products and services obsolete. Technological changes can
reduce or eluninate cost bairi-
ers between businesses, create shorter production runs, create
shortages in technical skills,
and result in changing values and expectations of employees,
managers, and customers.
Technological advancements can create new competitive
advantages that are more power-
ful than existing advantages. No company or industry today is
insulated against emerging
technological developments. In high-tech industries,
identification and evaluation of key
technological opportunities and threats can be the most
important part of the external
strategic-management audit.
Organizations that traditionally have limited technology
expenditures to what they
can fund after meeting marketing and financial requirements
urgently need a reversal in
26. thinking. The pace of technological change is increasing and
literally wiping out busi-
nesses every day. A n emerging consensus holds that technology
management is one of
the key responsibilities of strategists. Firms should pursue
strategies that take advantage
of technological opportunities to achieve sustainable,
competitive advantages in the
marketplace.
In practice, critical decisions about technology too often are
delegated to lower orga-
nizational levels or are made without an understanding of their
strategic implications.
Many strategists spend countless hours determining market
share, positioning products in
terms of features and price, forecasting sales and market size,
and monitoring distributors;
yet too often, technology does not receive the same respect.
Not all sectors of the economy are affected equally by
technological developments.
The communications, electronics, aeronautics, and
pharmaceutical industries are much
more volatile than the textile, forestry, and metals industries. A
recent article in the Wall
Street Journal detailed how wireless technology w i l l change
10 particular industries.^
Table 3-7 provides a glimpse of this article.
Examples of the Impact of Wireless Technology
A i r l i n e s — M a n y airlines now offer wireless technology i
n f l i g h t .
A u t o m o t i v e — V e h i c l e s aie b e c o m i n g wireless.
27. B a n k i n g — V i s a sends text message alerts after unusual
transactions.
E d u c a t i o n — M a n y secondary (and even college)
students may use smart phones for math
because research shows this to be greatly helpful.
E n e r g y — S m a r t meters now p r o v i d e power on
demand in y o u r home or business.
Health Care—Patients use m o b i l e devices to monitor their o
w n health, such as calories consumed.
H o t e l s — D a y s I n n sends daily specials and coupons to
hotel guests via text messages.
M a r k e t Research—Cell phone respondents provide more
honest answers, perhaps because they
are away f r o m eavesdropping ears.
Politics—President Obama w o n the election partly by m o b i l
i z i n g Facebook and M y S p a c e users,
r e v o l u t i o n i z i n g p o l i t i c a l campaigns. Obama
announced his vice presidential selection o f Joe
B i d e n by a text message.
P u b l i s h i n g — e B o o k s are increasingly available.
Source: Based on Joe Mullich, " 10 Industries That Wireless W
i l l Change," Wall Street Journal
(April 1,2009): A12.
C H A P T E R S • T H E E X T E R N A L A S S E S S M E N
T 71
28. Competitive Forces
The top U.S. competitors in four different industries are
identified in Table 3-8. An impor-
tant part of an external audit is identifying rival f i m s and
determining their strengths, weak-
nesses, capabilities, opportunities, threats, objectives, and
strategies.
Collecting and evaluating infonnation on competitors is
essential for successful strat-
egy formulation. Identifying major competitors is not always
easy because many firms
have divisions that compete in different industries. Many
multidivisional firms do not pro-
vide sales and profit information on a divisional basis for
competitive reasons. Also,
privately held firms do not publish any financial or marketing
information. Addressing
questions about competitors such as those presented in Table 3-
9 is important in perform-
ing an external audit.
Competition in virtually all industries can be described as
intense—and sometimes as
cutthroat. For example, Waigreens and CVS pharmacies are
located generally across the
street from each other and battle each other every day on price
and customer service. Most
automobile dealerships also are located close to each other.
Dollar General, based in
Goodlettsville, Tennessee, and Family Dollar, based in
Matthews, North Carolina, com-
pete intensely on price to attract customers. Best Buy dropped
prices wherever possible to
finally put Circuit City totally out of business.
29. Seven characteristics describe the most competitive companies:
1. Market share matters; the 90th share point isn't as important
as the 91st, and
nothing is more dangerous than falling to 89.
2. Understand and remember precisely what business you are in.
ljZ>' i.- The Top U.S. Competitors in Four Different Industries
2008 Sales % Change 2008 Profits % Change
(in m i l l i o n s ) f r o m 2007 (in millions) f r o m 2007
Beverages
Coca-Cola $31,944 + 11 $5,807 -3
Pepsi B o t d i n g 13.796 + 2 162 - 7 0
Coca-Cola Enteiprises 21,807 44 (4,394) - 7 1 8
M o l s o n Coors B r e w i n g 4774 -23 388 - 2 2
Pharmaceuticals
.lohnson & Johnson 63,747 + 4 12,949 22
Pfizer 48,296 0 8,104 0
M e r c k 23,850 -1 7,808 138
A b b o t t Laboratories 29,528 + 14 4,881 35
'^Vyeth 22,834 + 2 4,418 - 4
Construction and Farm Equipment
Caterpillar 51,324 + 14 3,557 0
Deere 28,438 + 18 2,053 +13
Terek 9,890 + 8 72 - 8 8
30. A g c o 8,425 +23 4 0 0 +62
C u m m i n s 14,342 + 1 0 755 + 2
Computers
Hewlett-Packard 118,364 +13 8,329 +15
Sun M i c r o s y s t e m s 13,880 0 403 -15
D e l l 61,101 0 2,478 - 1 6
X e r o x 17,608 +2 230 - 8 0
A p p l e 32,479 +35 4,834 + 3 8
Source: Based on Foriune, April 30, 2008, F50-F73.
72 P A R T 2 • S T R A T E G Y F O R M U L A T I O N
Key Questions About Competitors
1. W h a t are the major c o m p e t i t o r s ' strengths?
2. W h a t are the major c o m p e t i t o r s ' weaknesses?
3. W h a t are the major c o m p e t i t o r s ' objectives and
strategies?
4. H o w w i l l the major competitors most l i k e l y respond to
current economic, social, c u l t u r a l , demographic,
e n v i r o n m e n t a l , p o l i t i c a l , governmental, legal,
technological, and c o m p e t i t i v e trends affecting our
industry?
5. H o w vulnerable are the major competitors to our alternative
31. company strategies?
6. H o w vulnerable are our alternative strategies to successful
counterattack by our major competitors?
7. H o w are our products or services posidoned relative to
major competitors?
8. To what extent are new fimis entering and o l d firms leaving
this industry?
9. What key factors have resulted i n our present competitive p
o s i t i o n i n this industry?
10. H o w have the sales and profit rankings o f major
competitors in the industry changed over recent years?
W h y have these rankings changed that way?
1 1 . W h a t is the nature o f supplier and d i s t r i b u t o r
relationships i n this industry?
12. To what extent c o u l d substitute products or services be a
threat to competitors i n this industry?
3. Whether it's broke or not, fix it—inake it better; not just
products, but the whole
company, i f necessary.
4. Innovate or evaporate; particularly in technology-driven
businesses, nothing quite
recedes like success.
5. Acquisition is essential to growth; the most successful
purchases are in niches that
add a technology or a related market.
32. 6. People make a difference; tired of hearing it? Too bad.
7. There is no substitute for quality and no greater threat than
failing to be cost-
competitive on a global basis.^
Competitive Intelligence Programs
What is competitive intelligence? Competitive intelligence
(CT), as formally defined by the
Society of Competitive Intelligence Professionals (SCIP), is a
systematic and ethical
process for gathering and analyzing information about the
competition's activities and
general business trends to fiulher a business's own goals (SCIP
Web site).
Good competitive intelligence in business, as in the military, is
one of the keys to
success. The more information and knowledge a firm can obtain
about its competitors, the
inore likely it is that it can formulate and implement effective
strategies. Major competi-
tors' weaknesses can represent external opportunities; major
compefitors' strengths may
represent key threats.
In A p r i l 2009, Starwood Hotels & Resorts Worldwide sued
Hilton Hotels Corp. for
allegedly stealing more than 100,000 confidential electronic and
paper documents
containing "Starwood's most competitively sensitive
information." The complaint
alleges that two Starwood executives, Ross Klein and Amar
Lalvani, resigned from
Starwood to join Hilton and took this information with them.
33. The legal complaint says,
"This is the clearest imaginable case of corporate espionage,
theft of trade secrets, unfair
competition and computer fraud." In addition to monetary
awards, Starwood is seeking
to force Hilton to cancel the rollout of the Denizen hotel chain.
Hilton is owned by
Blackstone Group.
Hiring top executives from rival firms is also a way companies
obtain competitive
intelligence. Just two days after Facebook's COO, Owen Van
Natta, left the company in
2009, he accepted the CEO job at MySpace, replacing then CEO
and cofounder Chris
DeWolfe. Van Natta had previously also been Facebook's COO,
chief revenue officer, and
vice president of operations. The MySpace appointment now
pits CEO Van Natta against
his old boss at Facebook, CEO Mark Zuckerberg. Facebook
passed MySpace in visitors
worldwide in 2008 and is closing in on leadership in the United
States. Both firms are
fierce rivals in the Internet social-networking business.^
C H A P T E R 3 • T H E E X T E R N A L A S S E S S M E N
T 73
A recent article in the Wall. Street Journal detailed how
computer spies recently broke
into the Pentagon's $300 billion Joint Strike fighter project, one
of the costliest weapons
programs ever^ This intrusion and similar episodes of late have
confirmed that any infor-
34. mation a firm has available to anyone within the firm online
may be at risk of being copied
and/or siphoned away by adversaries or rival firms. A recent
Pentagon report says the
Chinese military in particular has made "steady progress" in
developing online-warfare
techniques, but rival firms in many industries have expert
computer engineers who may be
capable of similar unethical/unlawful tactics.
Many U.S. executives grew up in times when U.S. firms
dominated foreign competi-
tors so much that gathering competitive intelligence did not
seem worth the effort. Too
many of these executives still cling to these attitudes—to the
detriment of their organiza-
tions today. Even most M B A programs do not offer a course in
competitive and business
intelligence, thus reinforcing this attitude. As a consequence,
three strong misperceptions
about business intelligence prevail among U.S. executives
today:
1. Running an intelligence program requires lots of people,
computers, and other
resources.
2. Collecting intelligence about competitors violates antitrust
laws; business
intelligence equals espionage.
3. Intelligence gathering is an unethical business practice.^
Any discussions with a competitor about price, market, or
geography intentions could
violate antitrust statutes. However, this fact must not lure a firm
35. into underestimating the
need for and benefits of systematically collecting information
about competitors for
Strategic Planning purposes. The Internet has become an
excellent medium for gathering
competitive intelligence. Information gathering from
employees, managers, suppliers,
distributors, customers, creditors, and consultants also can make
the difference between
having superior or just average intelligence and overall
competitiveness.
Eirms need an effective competitive intelligence (CI) program.
The three basic objec-
tives of a CI program are (1) to provide a general understanding
of an industry and its
competitors, (2) to identify areas in which competitors are
vulnerable and to assess the
impact strategic actions would have on competitors, and (3) to
identify potential moves
that a competitor might make that would endanger a firm's
position in the market."'
Competitive information is equally applicable for strategy
formulation, implementation,
and evaluation decisions. An effective CI program allows all
areas of a firm to access con-
sistent and verifiable information in making decisions. A l l
members of an organization—
from the chief executive officer to custodians—are valuable
intelligence agents and should
feel themselves to be a part of the CI process. Special
characteristics of a successful CI
program include flexibdity, usefulness, timeliness, and cross-
functional cooperation.
The increasing emphasis on competitive analysis in the United
36. States is evidenced by
corporations putting this function on their organizational charts
under job titles such as
Director of Competitive Analysis, Competitive Strategy
Manager, Director of Information
Services, or Associate Director of Competitive Assessment. The
responsibilities of a
director of competitive analysis include planning, collecting
data, analyzing data, facilitat-
ing the process of gathering and analyzing data, disseminating
intelligence on a timely
basis, researching special issues, and recognizing what
information is important and who
needs to know. Competitive intelligence is not corporate
espionage because 95 percent of
the information a company needs to make strategic decisions is
available and accessible to
the public. Sources of competitive information include trade
journals, want ads, newspaper
articles, and government filings, as well as customers,
suppliers, distributors, competitors
themselves, and the Internet.
Unethical tactics such as bribery, wiretapping, and computer
break-ins should never
be used to obtain information. Marriott and Motorola—two U.S.
companies that do a
r r t i c u l a r l y good job of gathering competitive
intelligence—agree that all the information
} :a could wish for can be collected without resorting to
unethical tactics. They keep their
intelligence staffs small, usually under five people, and spend
less than $200,000 per year
on gathering competitive intelligence.
37. 74 P A R T 2 • S T R A T E G Y F O R M U L A T I O N
Unilever recently sued Procter & Gamble (P&G) over that
company's corporate-
espionage activities to obtain the secrets of its Unilever hair-
care business. After spending
$3 miUion to establish a team to find out about competitors in
the domestic ham-care indus-
try, P&G allegedly took roughly 80 documents from garbage
bins outside Unilever's
Chicago offices. P&G produces Pantene and Head & Shoulders
shampoos; Unilever has
hair-care brands such as ThermaSilk, Suave, Salon Selectives,
and Finesse. Similarly,
Oracle Corp. recentiy admitted that detectives i t hired paid
janitors to go through
Microsoft Corp.'s garbage, looking for evidence to use in court.
By definition, competitors are firms that offer similar products
and services in the same
market. Markets can be geographic or product areas or
segments. For example, in the
insurance industry the markets are broken down into
commercial/consumer, health/life, or
Europe/Asia. Researchers use the tenns market commonality and
resource similarity to
study rivalry among competitors. Market commonality can be
defined as the number and
significance of markets that a firm competes in with rivals."
Resource similarity is the
extent to which the type and amount of a firm's internal
resources are comparable to a
r i v a l . O n e way to analyze competitiveness between two or
among several firms is to
investigate market commonabty and resource similarity issues
38. while looking for areas of
potential competitive advantage along each firm's value chain.
Competitive Analysis: Porter's Five-Forces Model
As illustrated in Figure 3-3, Porter's Five-Forces Model of
competitive analysis is a widely
used approach for developing strategies in many industries. The
intensity of competition
among firms varies widely across industries. Table 3-10 reveals
the average profit margin
and return on investment for firms in different industries. Note
the substantial variation
among industries. For example, the range in profit margin goes
from 0 to 18 for food pro-
duction to computer software, respectively. Intensity of
competition is highest in lower-
return industries. The collective impact of competitive forces is
so brutal in some industries
that the market is clearly "unattractive" from a profit-making
standpoint. Rivah-y among
existing firms is severe, new rivals can enter the industry with
relative ease, and both suppli-
ers and customers can exercise considerable bargaining
leverage. According to Porter, the
nature of competitiveness in a given industry can be viewed as a
composite of five forces:
1. Rivalry among competing firms
2. Potential entry of new competitors
The Five-Forces Model of Competition
Potential development of substitute products!
B a r g a i n i n g power o f suppliers
R i v a l r y a m o n g c o m p e t i n g
39. firms
Bargaining power of consumers
Potential e n t r y o f new c o m p e t i t o r s
V J
C H A P T E R 4 • T H E I N T E R N A L A S S E S S M E N T
99
A n organization's culture should infuse individuals with
enthusiasm for implementing
strategies. Allarie and Firsirotu emphasized the need to
understand culture:
Culture provides an explanation for the insuperable difficulties
a firm encounters
when it attempts to shift its strategic direction. Not only has the
"right" culture
become the essence and foundation of corporate excellence, it is
also claimed that
success or failure of reforms hinges on management's sagacity
and ability to
change the firm's driving culture in time and in time with
required changes in
strategies.^
The potential value of organizational culture has not been
realized fully in the study of
strategic management. Ignoring the effect that culture can have
on relationships among the
functional areas of business can result in barriers to
communication, lack of coordination,
40. and an inability to adapt to changing conditions. Some tension
between culture and a
firm's strategy is inevitable, but the tension should be monitored
so that it does not reach a
point at which relationships are severed and the culture becomes
antagonistic. The result-
ing disarray among members of the organization would disrupt
strategy formulation,
implementation, and evaluation. In contrast, a supportive
organizational culture can make
managing much easier.
Internal strengths and weaknesses associated with a firm's
culture sometimes are
overlooked because of the interfunctional nature of this
phenomenon. It is important,
therefore, for strategists to understand their firm as a
sociocultural system. Success is often
determined by linkages between a firm's culture and strategies.
The challenge of strategic
management today is to bring about the changes in
organizational culture and individual
mind-sets that ai-e needed to support the formulation,
implementation, and evaluation of
strategies.
iViaiiageroenit
The functions of management consist of five basic activities:
planning, organizing, motivat-
ing, staffing, and controlling. An overview of the.se activities is
provided in Table 4-3.
Stage o f Strategic-Management
Process W h e n Most I m p o r t a n t
The Basic Functions of Management
41. Function Description
Planning P l a n n i n g consists o f all those managerial
activities related to preparing
f o r the future. Specific tasks include forecasting, estabJisliing
objectives,
devising strategies, d e v e l o p i n g policies, and .setting
goals.
O r g a n i z i n g O r g a n i z i n g includes all those
managerial activities that result in a stmcture
o f task and authority relationships. Specific areas i n c l u d e
organizational
design, j o b specialization, j o b descriptions, j o b
specifications, span o f
c o n t r o l , u n i t y o f c o m m a n d , c o o r d i n a t i o n , j
o b design, and j o b analysis.
M o t i v a t i n g M o t i v a t i n g involves effoits directed
toward shaping human behavior
Specific topics include leadership, communication, w o r k
groups, behavior
modification, delegation o f autliority, J o b enrichment, j o b
satisfaction, needs
f u l l i l l m e n t , organizational change, employee morale,
and managerial morale.
Staffing Staffing activities are centered on personnel or human
resource management.
Included are wage and salary administration, employee benefits,
i n t e r v i e w i n g ,
h i r i n g , f i r i n g , training, management development,
employee safety,
affirmative action, equal employment oppominity, union
relations, career
42. development, personnel research, discipUne policies, grievance
procedures,
and public relations.
iVval 'dcVuaV tesuils ate c o n s i s t e i A w l V i ipVarvtved
tesuVls,, VVCNJ areas, concern
expense control, analysis o f variances, rewards, and sanctions.
Strategy F o r m u l a t i o n
Strategy I m p l e m e n t a t i o n
Strategy I m p l e m e n t a t i o n
Strategy I m p l e m e n t a t i o n
A O O P K R T 2 . S T R A T E G Y F O R M U L A T I O N
The o n l y thing certain about the future of any organization is
change, and p]anmng is tbe
essential bridge between the present and the future that
increases the likelihood of
achieving desired results. Planning is the process by which one
determines whether to
atiempi a task, works out rhe most eft'ecuve way oi ieacing d e
s k e d objecUves, and
prepares to overcome unexpected difficulties with adequate
resources. Planning is the
start of the process by which an individual or business may turn
empty dreams into
achievements. Planning enables one to avoid the trap of working
extremely hard but
achieving little.
43. Planning is an up-front investment in success. Planning helps a
firm achieve maxi-
mum effect from a given efl'ort. Planning enables a firm to take
into account relevant
factors and focus on the critical ones. Planning helps ensure
that the firm can be prepai'ed
for all reasonable eventualities and for all changes that w i l l
be needed. Planning enables a
firm to gather the resources needed and can-y out tasks in the
most efficient way possible.
Planning enables a firm to conserve its own resources, avoid
wasting ecological
resources, make a fair profit, and be seen as an effective, useful
firm. Planning enables a
firm to identify precisely what is to be achieved and to detail
precisely the who, what,
when, where, why, and how needed to achieve desired
objectives. Planning enables a firm
to assess whether the effort, costs, and irapJications associated
with achieving desired
objectives are warranted."' Planning is the cornerstone of
effective strategy formulation.
But even though it is considered the foundation of management,
it is commonly the task
that managers neglect most. Planning is essential for successful
strategy implementation
and strategy evaluation, largely because organizing, motivating,
staffing, and controlling
activities depend upon good planning.
The process of planning must involve managers and employees
throughout an organi-
zation. The time hoiizon for planning decreases from two to five
years for top-level to less
than six months for lower-level managers. The important point
44. is that all mtuiagers do plan-
ning and should involve subordinates in the process to facilitate
employee understanding
and commitment.
Planning can have a positive impact on organizational and
individual performance.
Planning allows an organization to identify and take advantage
o f external opportunities as
well as minimize the impact of external threats. Planning is
more than extrapolating from
the past and present into the future. It also includes developing
a mission, forecasting
future events and trends, estabhshing objectives, and choosing
strategies to pursue.
An organization can develop synergy through planning. Synergy
exists when everyone
pulls together as a team that knows what it wants to achieve;
synergy is the 2 + 2 = 5 effect.
By estabhshing and communicating clear objectives, employees
and managers can work
together toward desired results. Synergy can result in powerful
competitive advantages.
The strategic-management process itself is aimed at creating
synergy in an organization.
Planning allows a firm to adapt to changing markets and thus to
shape its own destiny.
Strategic management can be viewed as a formal planning
process that allows an organiza-
tion to pursue proactive rather than reactive strategies.
Successful organizations strive to
control their own futures rather than merely react to external
forces and events as they
occur. Historically, organisms and organizations that have not
45. adapted to changing condi-
tions have become extinct. Swift adaptation is needed today
more than ever because
changes in markets, economies, and competitors worldwide are
accelerating. Many firms
did not adapt to the global recession of late and went out of
business.
Organizinf
The purpose of organizing is to achieve coordinated effort by
defining task and authority
relationships. Organizing means determining who does what and
who reports to whom.
There are countless examples in history of well-organized
enterprises successfully
competing against—and in some cases defeating—much
stronger but less-organized firms.
A well-organized i'ivm generally has tnotivated managers and
employees who are commit-
ted to seeing the organization succeed. Resources are allocated
more effectively and used
more efficientiy in a well-organized firm than in a disorganized
firm.
C H A P T E R 4 • T H E I N T E R N A L A S S E S S M E N T
101
The organizing function of management can be viewed as
consisting of three sequen-
tial activities; breaking down tasks into jobs (work
specialization), combining jobs to form
departments (departmentalization), and delegating authority.
Breaking down tasks into
46. jobs requires the development of job descriptions and job
specifications. These tools clar-
ify for both managers and employees what particular jobs entail.
In The Wealth of Nations,
pubUshed in 1776, Adam Smith cited the advantages of work
speciaUzation in the manu-
facture of pins:
One man draws the wire, another straightens it, a third cuts it, a
fourth points it, a
fifth grinds it at the top for receiving the head. Ten men
working in this manner can
produce 48,(X)0 pins in a single day, but i f they had all
wrought separately and inde-
pendently, each might at best produce twenty pins in a day."
Combining jobs to form departments results in an organizational
structure, span of
control, and a chain of command. Changes in strategy often
require changes in structure
because positions may be created, deleted, or merged.
Organizational structure dictates
how resources are allocated and how objectives are established
in a firm. Allocating
resources and establishing objectives geographically, for
example, is much different from
doing so by product or customer.
The most common forms of departmentalization are functional,
divisional, stiategic
business unit, and matrix. These types of structure are discussed
further in Chapter 7.
Delegating authority is an important organizing activity, as
evidenced in the old saying
•'You can tell how good a manager is by observing how his or
47. her department functions
when he or she isn't there." Employees today are more educated
and more capable of par-
ticipating in organizational decision making than ever before. In
most cases, they expect to
be delegated authority and responsibility and to be held
accountable for results. Delegation
of authority is embedded in the strategic-management process.
Motivating can be defined as the process of influencing people
to accomplish specific objec-
tives.'^ Motivation explains why some people work hard and
others do not. Objectives,
strategies, and pohcies have little chance of succeeding if
employees and managers are not
—otivated to implement strategies once they are formulated.
The motivating function of
"anagement includes at least four major components: leadership,
group dynamics, commu-
r.-cation, and organizational change.
When managers and employees of a firm strive to achieve high
levels of productivity,
this indicates that the firm's strategists are good leaders. Good
leaders estabUsh rapport
with subordinates, empathize with their needs and concerns, set
a good example, and are
trustworthy and fair. Leadership includes developing a vision of
the firm's future and
inspiring people to work hard to achieve that vision. Kirkpatrick
and Locke reported that
certain traits also characterize effective leaders: knowledge of
the business, cognitive abil-
ity, self-confidence, honesty, integrity, and drive.'-^
Research suggests that democratic behavior on the part of
48. leaders results in more pos-
itive attitudes toward change and higher productivity than does
autocratic behavior.
Drucker said:
Leadership is not a magnetic personaUty. That can just as well
be demagoguery. It is
not "making friends and influencing people." That is flattei7.
Leadership is the lifting
of a person's vision to higher sights, the raising of a person's
performance to a higher
standard, the building of a person's personality beyond its
nomial limitations.'''
Group dynamics play a major role in employee morale and
satisfaction. Informal
groups or coalitions form in every organization. The norms of
coalitions can range from
being very positive to very negative toward management. It is
important, therefore, that
strategists identify the composition and nature of informal
groups in an organization to
facilitate strategy formulation, implementation, and evaluation.
Leaders of informal
-roups are especially important in formulating and
implementing strategy changes.
102 P A R T 2 • S T R A T E G Y F O R M U I A T I O N
Communicatioiv, perhaps ftve most important, word vn
management., vs a majoi component
in motivation. An organization's system oi con-wnunicaUon
determiries wtetVier stiategves can
be implemented successfully. Good two-way communication is
49. vital for gaining support fc:
departmental and divisional objectives and policies. Top-down
convmunication can encouragt
bottom-up communication. The strategic-management process
becomes a lot easier wher.
subordinates are encouraged to discuss their concerns, reveal
theii' problems, provide recom-
mendations, and give suggestions. A primal^ reason for
instituting strategic management is to
bwSXd avid sw^̂ poYt cttec.v-ie coTcvmavivc.'a.tAon v̂
atwovYs tVffO.'g,oit te. f i l m .
The manager of tomoixow must be able to get his people to
commit themselves to the
business, whether they are machine operators or junior vice-
presidents. The key
issue w i l l be empowerment, a tenn whose strength suggests
the need to get beyond
merely sharing a little information and a bit of decision
making.'-^
Staffiimg
The management function of staffing, also called personnel
managenienl or human resource
management, includes activities such as recruiting,
interviewing, testing, selecting, orienting,
training, developijig, caring for, evaluating, rewarding,
disciplining, promoting, transferring,
demoting, and dismissing employees, as well as managing union
relations.
Staffing activities play a major role in strategy-implementation
efforts, and for this
reason, human resource managers are becoming more actively
involved in the strategic-
management process. It is important to identify strengths and
50. weaknesses in the staffing aiea.
The complexity and importance of human resource activities
have increased to such a
degree that all but the smallest organizations now need a full-
time human resource man-
ager. Numerous court cases that directly affect staffing
acdvities are decided each day.
Organizations and individuals can be penalized severely for not
following federal, state,
and local laws and guidelines related to staffing. Line managers
simply cannot stay abreast
of all the legal developments and requirements regarding
staffing. The human resources
department coordinates staffing decisions in the firm so that an
organization as a whole
meets legal requirements. This department also provides needed
consistency in administer-
ing company rules, wages, policies, and employee benefits as
well as collective bargaining
with unions.
Human resource management is paiticulariy challenging for
internafional companies.
For example, the inability of spouses and children to adapt to
new surroundings can be a
staffing problem in overseas transfers. The problems include
premature returns, job perfor-
mance slumps, resignations, discharges, low morale, marital
discord, and general discon-
tent. Firms such as Ford Motor and ExxonMobil screen and
interview spouses and children
before assigning persons to overseas positions. 3 M Corporation
introduces children to
peers in the target counti-y and offers spouses educational
benefits.
51. Controlling
The controlling function of management includes all of those
activities undertaken to ensure
that actual operations conform to planned operations. A l l
managers in an organization have
controlhng responsibilities, such as conducting performance
evaluations and taking necessary
action to minimize inefficiencies. The controlling function of
management is particulariy
important for effective strategy evaluation. Controlling consists
of four basic steps:
1. Establishing performance standards
2. Measuring individual and organizational performance
3. Comparing actual performance to planned performance
standards
4. Taking coiTective actions
Measuring individual performance is often conducted
ineffectively or not at all i n
organizations. Some reasons for this shortcoming are that
evaluations can create confronta-
tions that most managers prefer to avoid, can take more time
than most managers are
willing to give, and can require skills that many managers lack.
No single approach to
measuring individual performance is without limitations. For
this reason, an organization
C H A P T E R 4 • T H E I N T E R N A L A S S E S S M E N T
103
should examine various methods, such as the graphic rating
52. scale, the behaviorally
anchored rating scale, and the critical incident method, and then
develop or select a
performance-appraisal approach that best suits the firm's needs.
Increasingly, firms are
striving to link organizational performance with managers' and
employees' pay. This topic
is discussed further in Chapter 7.
Management Audit Checklist of Questions
The following checklist of questions can help determine
specific strengths and weaknesses
in the functional area of business. An answer of no to any
question could indicate a poten-
tial weakness, although the strategic significance and
implicadons of negative answers, of
course, w i l l vary by organization, industry, and severity of
the weakness. Positive or yes
answers to the checklist questions suggest potential areas of
strength.
1. Does the firm use strategic-management concepts?
2. Are company objectives and goals measurable and well
communicated?
3. Do managers at all hierarchical levels plan effectively?
4. Do managers delegate authority well?
5. Is the organization's structure appropriate?
6. Are job descriptions and job specifications clear?
7. Is employee morale high?
8. Are employee turnover and absenteeism low?
9. Are organizational reward and control mechanisms effective?
i^arketirig
Marketing can be described as the process of defining,
anticipating, creating, and fulfilling
customers' needs and wants for products and services. There are
53. seven hn!,c functions of
marketing: (1) customer analysis, (2) selling products/services,
(3) product and service
planning, (4) pricing, (5) distribution, (6) marketing research,
and (7) opportunity analy-
sis.'^ Understanding these functions helps strategists identify
and evaluate marketing
strengths and weaknesses.
Customsr Mahf&s,
Customer analysis—the examination and evaluation of
consumer needs, desires, and
want.s—involves administering customer surveys, analyzing
consumer information, evalu-
ating market positioning strategies, developing customer
profiles, and determining optimal
market segmentation strategies. The information generated by
customer analysis can be
essential in developing an effective mission statement.
Customer profiles can reveal the
demographic characteristics of an organization's customers.
Buyers, sellers, distributors,
salespeople, managers, wholesalers, retailers, supphers, and
creditors can all participate in
gathering informafion to successfully identify customers' needs
and wants. Successful
organizations continually monitor present and potential
customers' buying patterns.
Selling Products/Services
Successful strategy implementation generally rests upon the
ability of an organization to
sell some product or service. Selling includes many marketing
activities, such as advertis-
ing, sales promotion, publicity, personal selling, sales force
management, customer rela-
54. tions, and dealer relations. These activities are especially
critical when a firm pursues a
market penetration sUategy. The effectiveness of various selling
tools for consumer and
industrial products varies. Personal selling is most important for
industrial goods compa-
nies, and advertising is most important for consumer goods
companies.
U.S. advertising expenditures are expected to fall 6.2 percent in
2009 to $161.8 billion.'^
One aspect of ads in a recession is that they generally take more
direct aim at competitors,
and this marketing practice is holding true in our bad economic
times. Nick Brien at
Mediabrands says, "Ads have to get combative in bad times. It's
a dog fight, and it's about
getting leaner and meaner." Marketers in 2009 also say ads w i l
l be less lavish and glamorous