Environmental scanning
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Environmental scanning involves studying political, economic, social, technological, legal, and environmental trends and events that could impact a business. There are three modes of scanning: systematic scanning of information directly relevant to a business; ad-hoc scanning through occasional surveys; and using processed information from internal and external sources. A PESTEL analysis examines these external factors through a political, economic, social, technological, environmental, and legal lens. A SWOT analysis identifies a business's strengths, weaknesses, opportunities, and threats.
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Environmental scanning
Environmental scanning is the process of gathering information about events and relationships in a company's external environment that can assist management in strategic decision-making. It involves monitoring the political, economic, social, technological, environmental, and legal factors in areas where a company operates or plans to operate. The objectives of environmental scanning include detecting important trends, identifying potential threats and opportunities, promoting future orientation, and alerting management to converging or diverging trends. Common techniques for environmental scanning include SWOT analysis, PEST analysis, and developing issue priority matrices to determine which trends require closer monitoring.
Environmental scanning
Environmental scanning is the process of gathering information about events and relationships within a company's external environment that could impact its strategy. It aims to identify potential opportunities and threats from trends and events in the political, economic, social and technological spheres. Effective environmental scanning involves continuously collecting both quantitative and qualitative data, analyzing and interpreting it, and using the insights to inform strategic planning and decision-making. There are various techniques for conducting environmental scans, such as SWOT analysis, PEST analysis, and issue priority matrices, which help assess trends and their potential impact on the organization.
Enviroment scanning
The document discusses environmental scanning as a technique for strategic planning. It defines environmental scanning as collecting, analyzing, and distributing information for strategic purposes. It notes that environmental scanning is needed to develop appropriate plans, strategies to get ahead of competitors, and to effectively utilize resources. The document outlines factors to consider in environmental scanning like external environment, events, trends, and expectations of people. It also discusses integrating environmental scanning into the strategic planning cycle through steps like SWOT analysis.
Process of environmental analysis
The document discusses environmental analysis, which involves assessing emerging trends and identifying opportunities and threats from a firm's economic, political, legal, technological, and social environments. It describes the main processes of environmental analysis as scanning, monitoring, forecasting, and assessment. Scanning involves monitoring environmental changes that could impact a business. Monitoring tracks trends and events, while forecasting estimates future situations. Assessment identifies key opportunities and threats. The document also outlines several models for environmental analysis, including PEST, PESTEL, and Porter's models, which analyze political/legal, economic, socio-cultural, and technological forces.
Strategic Management Environmental Scanning
This document discusses environmental scanning and the QUEST technique. It defines environmental scanning as monitoring, evaluating, and disseminating external and internal information. The QUEST technique is a 4-step process where strategists 1) identify events and trends, 2) speculate on issues, 3) prepare scenarios, and 4) identify strategic options. It allows for rapid development of potential futures at low cost. While it relies on senior executives, it ensures implementation. Evaluation notes its speed and cost but over-reliance on executives could contaminate results. After scanning, strategists prepare an environmental threats and opportunities profile to analyze impact of different sectors.
Strategic Management Ch 4
The document discusses environmental scanning and industry analysis for strategic management and business policy. It covers topics such as analyzing the external environment, including natural, societal, and task environments. Porter's five forces model of industry analysis is presented. Other topics include identifying external strategic factors, analyzing industry evolution and different strategic types of firms. Competitive intelligence and monitoring competitors are also discussed. The purpose of environmental scanning and industry analysis is to gather external information relevant to organizational strategy.
PostGrad February 7 Session
The document discusses the marketing environment analysis process that is part of a postgraduate diploma program. It covers analyzing the macro environment using STEEPLE analysis and the micro environment using Porter's Five Forces. It then provides details on analyzing various aspects of the macro environment including social, technological, economic, political/legal factors. Micro internal and external audits are also discussed.
Environmental scanning
Environmental scanning is the process of continually acquiring information about external events and trends to identify changes in the environment. It provides strategic intelligence by evaluating potential trends and alerts planners to converging, diverging, interacting, accelerating, or decelerating trends. The ideal goal is to allow for adaptive planning before trends occur or fully develop. An environmental scan examines factors in the external environment like social changes, demographics, economic conditions, technology, politics, and competition that are outside an organization's control. The information gathered from an environmental scan can be used in strategic planning.
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Environmental scanning
Environmental scanning is the process of gathering information about events and relationships in a company's external environment that can assist management in strategic decision-making. It involves monitoring the political, economic, social, technological, environmental, and legal factors in areas where a company operates or plans to operate. The objectives of environmental scanning include detecting important trends, identifying potential threats and opportunities, promoting future orientation, and alerting management to converging or diverging trends. Common techniques for environmental scanning include SWOT analysis, PEST analysis, and developing issue priority matrices to determine which trends require closer monitoring.
Environmental scanning
Environmental scanning is the process of gathering information about events and relationships within a company's external environment that could impact its strategy. It aims to identify potential opportunities and threats from trends and events in the political, economic, social and technological spheres. Effective environmental scanning involves continuously collecting both quantitative and qualitative data, analyzing and interpreting it, and using the insights to inform strategic planning and decision-making. There are various techniques for conducting environmental scans, such as SWOT analysis, PEST analysis, and issue priority matrices, which help assess trends and their potential impact on the organization.
Enviroment scanning
The document discusses environmental scanning as a technique for strategic planning. It defines environmental scanning as collecting, analyzing, and distributing information for strategic purposes. It notes that environmental scanning is needed to develop appropriate plans, strategies to get ahead of competitors, and to effectively utilize resources. The document outlines factors to consider in environmental scanning like external environment, events, trends, and expectations of people. It also discusses integrating environmental scanning into the strategic planning cycle through steps like SWOT analysis.
Process of environmental analysis
The document discusses environmental analysis, which involves assessing emerging trends and identifying opportunities and threats from a firm's economic, political, legal, technological, and social environments. It describes the main processes of environmental analysis as scanning, monitoring, forecasting, and assessment. Scanning involves monitoring environmental changes that could impact a business. Monitoring tracks trends and events, while forecasting estimates future situations. Assessment identifies key opportunities and threats. The document also outlines several models for environmental analysis, including PEST, PESTEL, and Porter's models, which analyze political/legal, economic, socio-cultural, and technological forces.
Strategic Management Environmental Scanning
This document discusses environmental scanning and the QUEST technique. It defines environmental scanning as monitoring, evaluating, and disseminating external and internal information. The QUEST technique is a 4-step process where strategists 1) identify events and trends, 2) speculate on issues, 3) prepare scenarios, and 4) identify strategic options. It allows for rapid development of potential futures at low cost. While it relies on senior executives, it ensures implementation. Evaluation notes its speed and cost but over-reliance on executives could contaminate results. After scanning, strategists prepare an environmental threats and opportunities profile to analyze impact of different sectors.
Strategic Management Ch 4
The document discusses environmental scanning and industry analysis for strategic management and business policy. It covers topics such as analyzing the external environment, including natural, societal, and task environments. Porter's five forces model of industry analysis is presented. Other topics include identifying external strategic factors, analyzing industry evolution and different strategic types of firms. Competitive intelligence and monitoring competitors are also discussed. The purpose of environmental scanning and industry analysis is to gather external information relevant to organizational strategy.
PostGrad February 7 Session
The document discusses the marketing environment analysis process that is part of a postgraduate diploma program. It covers analyzing the macro environment using STEEPLE analysis and the micro environment using Porter's Five Forces. It then provides details on analyzing various aspects of the macro environment including social, technological, economic, political/legal factors. Micro internal and external audits are also discussed.
Environmental scanning
Environmental scanning is the process of continually acquiring information about external events and trends to identify changes in the environment. It provides strategic intelligence by evaluating potential trends and alerts planners to converging, diverging, interacting, accelerating, or decelerating trends. The ideal goal is to allow for adaptive planning before trends occur or fully develop. An environmental scan examines factors in the external environment like social changes, demographics, economic conditions, technology, politics, and competition that are outside an organization's control. The information gathered from an environmental scan can be used in strategic planning.
environmental scanning
The document discusses environmental scanning, which is the process organizations use to monitor opportunities and threats in their business environment. It identifies the key factors of events, trends, issues, and expectations that affect scanning. There are three approaches to scanning: systematic, ad-hoc, and processed form. Environmental scanning involves both external and internal analysis. External analysis uses PEST (Political, Economic, Social, Technological) and five forces frameworks to understand the macro and micro environment. The purpose of environmental scanning is to help management determine the organization's future direction.
Chapter 2
The document discusses environmental scanning, which involves considering external factors that could influence an organization. It defines three levels of environment - task, industry, and macro. Environmental scanning aims to detect trends, opportunities, threats, and changes in these environments. It helps organizations anticipate changes, understand issues, and respond strategically. The document emphasizes that scanning is an ongoing process that informs strategic planning and decision-making.
Environmental scanning
Environmental scanning involves understanding external factors that may impact an organization. It alerts decision-makers to potential changes so they can plan accordingly. There are different levels of environment to scan - the task environment of direct stakeholders, the industry environment of all similar organizations, and the broad macroenvironment of social, technological, economic, environmental and political trends. Scanning can be passive by casually following news, or active by systematically gathering information from diverse sources to comprehensively cover all environments relevant to strategic planning. The goal is ongoing, integrated scanning to detect early signals of changes that may occur unexpectedly.
Environmental scanning
The document discusses environmental scanning, which involves collecting, analyzing, and distributing external information for strategic planning purposes. It defines environmental scanning and describes the types, including ad hoc, periodic, and continuous scans. The document provides tips on conducting scans, such as assembling a research team, considering your audience, and using visuals. It also lists potential data sources and resources for environmental scanning.
Environmental Scanning:complete concept.
The strategic management application and description of Environmental Scanning fully with various processes & resulting strategies.
External environmental scan report
The document discusses environmental scanning, which involves systematically collecting external information to reduce uncertainty and provide early warnings of changes. It defines scanning, describes different types (passive vs. active; irregular, periodic, continuous), levels (task, industry, macroenvironment), and goals (alerting to threats, opportunities, trends). Effective scanning programs identify critical trends, examine past reviews/plans, and require dedicated staff and volunteers to rigorously review information sources.
Quest analysis
The document describes the QUEST analysis technique, a four-step process for environmental scanning and strategy planning. The four steps are: 1) strategists observe events and trends, 2) they identify important issues that could affect the organization, 3) they prepare a report summarizing the issues, implications, and 3-5 scenarios, and 4) strategists review the report and scenarios to identify feasible strategic options.
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Environmental scanning is one component of the global environmental analysis. Environmental monitoring, environmental forecasting and environmental assessment complete the global environmental analysis
Environmental scanning (ppt)
Environmental scanning is defined as the process of collecting, analyzing, and distributing information for strategic purposes. The purpose of an environmental scan is to provide strategic intelligence by evaluating potentially significant environmental changes and trends to allow for adaptive planning. Environmental scanning often refers only to external factors but including internal factors can provide a more complete picture. Environmental scanning is one cycle in the larger strategic planning process.
Environmental appraisal
This document discusses environmental appraisal and business environment. It defines environment and describes the characteristics and types of business environment, including internal and external factors. The external environment is further divided into micro and macro factors. The roles of government in the business environment are regulatory, participative, and protective. Key sectors of the business environment are also outlined such as economic, international, market, political, regulatory, socio-cultural, supplier, and technological. The document also discusses environmental scanning, approaches to scanning, and SWOT analysis.
Environment Analysis Of Apple
Steve Jobs was fired from Apple after a disagreement over the company's direction. He went on to establish Pixar and Next, then returned to a struggling Apple after it nearly went bankrupt. The document discusses how undertaking environmental analysis can help companies gain strategic advantages by understanding changes in their business environment and developing long-term strategies. It outlines techniques like SWOT analysis, trend analysis, and scenario development that companies can use to scan, monitor, and forecast changes in order to strategically assess opportunities and threats.
Environmental analysis & forecasting
The document outlines the stages of environmental analysis and forecasting for organizations:
1) Scanning detects early warning signals and identifies emerging trends in the external environment.
2) Monitoring analyzes trends over time to determine patterns and issues requiring further analysis.
3) Forecasting anticipates future changes to key variables to identify threats and opportunities and help with strategic planning.
4) Assessment evaluates the potential impacts of forecasts on the organization to determine implications.
Etop analysis(ENVIRONMENT THREAT AND OPPORTUNITY PROFILE (ETOP)
Definition of environment
Overview of environment scanning
Techniques of environment scanning
Environment means the surroundings, external objects, influences or circumstances under which someone or some thing exits.
Environmental scanning is a process of gathering, analyzing, and dispensing information for tactical or strategic purposes.
It is a process of dividing the environment into different sectors and then analyzing the impact of each sector on the organization.
Etop presentation
An environmental threat and opportunity profile (ETOP) describes external factors that can impact an organization. It helps identify opportunities and threats, consolidate strengths, provide strategic information, and formulate strategies. Developing an ETOP involves identifying major environmental factors like economic, political, social, technological, competitive, and geographical factors. These are analyzed to determine weaknesses/strengths and their favorable, unfavorable, or neutral impact.
Ppt presentation on environmental scanning
Environmental scanning involves collecting, analyzing, and distributing information for strategic purposes. It allows businesses to understand what opportunities exist in their environment and what threats might challenge their position. When conducting an environmental scan, businesses should research factors like technology, the economy, politics, competitors, and their own community. This helps them identify appropriate business ideas and develop strategies to get ahead of competitors.
Environmental scanning-ppt
Environmental scanning involves systematically gathering, analyzing, and disseminating information from inside and outside an organization to identify opportunities and threats. It helps organizations effectively utilize resources, formulate strategies, and predict the future. Key factors to consider include trends, issues, expectations, and events in the external environment. Approaches to environmental scanning include systematic, ad hoc, and using secondary data. PEST analysis examines the political, economic, sociocultural, and technological factors in an organization's macro environment. SWOT analysis identifies internal strengths and weaknesses and external opportunities and threats.
Environmental scanning
Environmental scanning is the process of gathering, analyzing, and disseminating information about events and trends in an organization's external environment to help managers make decisions and identify opportunities and threats. It monitors political, economic, social, technological, and ecological events and trends to detect potential impacts. The purposes of environmental scanning include effective resource use, monitoring resources, strategy formulation, identifying threats and opportunities, and predicting the future. Approaches to environmental scanning include systematic collection of continuous internal and external data and using secondary data from external sources. Tools for environmental scanning analysis include ETOP analysis, SWOT analysis, PEST analysis, and reviewing strengths, weaknesses, opportunities, and threats.
Business environment scanning dr pramila patil
Environment scanning is defined as the process organisations use to monitor their relevant environment to identify opportunities and threats in order to make strategic decisions. There are systematic, ad hoc, and periodic approaches to environment scanning using secondary sources, mass media, internal sources, external agencies, formal studies, and spying. Techniques include forecasting, scenario analysis, spying, management information systems, and quick environment scanning techniques to appraise the environment and identify strategist, organisation, and environment related factors.
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Environmental scanning & monitoring techniques
This document discusses various techniques for environmental scanning and monitoring, including SWOT analysis, PEST analysis, QUEST analysis, competitor analysis, and industry analysis. It provides overview and descriptions of each technique. SWOT analysis involves identifying internal strengths and weaknesses and external opportunities and threats. PEST analysis examines political, economic, social and technological macroenvironmental factors. Industry analysis helps understand a company's position relative to competitors. Competitor analysis assesses strengths and weaknesses of current and potential rivals.
Pestle draft03
The document discusses different frameworks for analyzing the external environment that may impact an organization, including PEST analysis, SWOT analysis, and PESTLE analysis. PEST analysis examines the political, economic, social and technological factors in the macro environment. SWOT analyzes the internal environment and micro environment. PESTLE is an extended version of PEST that also considers legal and environmental factors. It is important to continuously analyze how external factors are changing and may affect an organization in both the near and long term.
Macro micro
Environmental scanning is one part of analyzing the global environment and refers specifically to examining the macro environment. The macro environment includes industries, markets, companies, clients, and competitors, while the micro environment analyzes suppliers, customers, and competitors within a given industry. Environmental scanning involves studying and interpreting political, economic, social, technological, environmental, and legal events, trends, issues, and expectations that influence businesses and markets. Common approaches to examining these external factors include PESTEL and analyzing the six factors - political, economic, social, technological, environmental, and legal.
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environmental scanning
The document discusses environmental scanning, which is the process organizations use to monitor opportunities and threats in their business environment. It identifies the key factors of events, trends, issues, and expectations that affect scanning. There are three approaches to scanning: systematic, ad-hoc, and processed form. Environmental scanning involves both external and internal analysis. External analysis uses PEST (Political, Economic, Social, Technological) and five forces frameworks to understand the macro and micro environment. The purpose of environmental scanning is to help management determine the organization's future direction.
Chapter 2
The document discusses environmental scanning, which involves considering external factors that could influence an organization. It defines three levels of environment - task, industry, and macro. Environmental scanning aims to detect trends, opportunities, threats, and changes in these environments. It helps organizations anticipate changes, understand issues, and respond strategically. The document emphasizes that scanning is an ongoing process that informs strategic planning and decision-making.
Environmental scanning
Environmental scanning involves understanding external factors that may impact an organization. It alerts decision-makers to potential changes so they can plan accordingly. There are different levels of environment to scan - the task environment of direct stakeholders, the industry environment of all similar organizations, and the broad macroenvironment of social, technological, economic, environmental and political trends. Scanning can be passive by casually following news, or active by systematically gathering information from diverse sources to comprehensively cover all environments relevant to strategic planning. The goal is ongoing, integrated scanning to detect early signals of changes that may occur unexpectedly.
Environmental scanning
The document discusses environmental scanning, which involves collecting, analyzing, and distributing external information for strategic planning purposes. It defines environmental scanning and describes the types, including ad hoc, periodic, and continuous scans. The document provides tips on conducting scans, such as assembling a research team, considering your audience, and using visuals. It also lists potential data sources and resources for environmental scanning.
Environmental Scanning:complete concept.
The strategic management application and description of Environmental Scanning fully with various processes & resulting strategies.
External environmental scan report
The document discusses environmental scanning, which involves systematically collecting external information to reduce uncertainty and provide early warnings of changes. It defines scanning, describes different types (passive vs. active; irregular, periodic, continuous), levels (task, industry, macroenvironment), and goals (alerting to threats, opportunities, trends). Effective scanning programs identify critical trends, examine past reviews/plans, and require dedicated staff and volunteers to rigorously review information sources.
Quest analysis
The document describes the QUEST analysis technique, a four-step process for environmental scanning and strategy planning. The four steps are: 1) strategists observe events and trends, 2) they identify important issues that could affect the organization, 3) they prepare a report summarizing the issues, implications, and 3-5 scenarios, and 4) strategists review the report and scenarios to identify feasible strategic options.
Environmental scanning, internal environment, external environment
Environmental scanning is one component of the global environmental analysis. Environmental monitoring, environmental forecasting and environmental assessment complete the global environmental analysis
Environmental scanning (ppt)
Environmental scanning is defined as the process of collecting, analyzing, and distributing information for strategic purposes. The purpose of an environmental scan is to provide strategic intelligence by evaluating potentially significant environmental changes and trends to allow for adaptive planning. Environmental scanning often refers only to external factors but including internal factors can provide a more complete picture. Environmental scanning is one cycle in the larger strategic planning process.
Environmental appraisal
This document discusses environmental appraisal and business environment. It defines environment and describes the characteristics and types of business environment, including internal and external factors. The external environment is further divided into micro and macro factors. The roles of government in the business environment are regulatory, participative, and protective. Key sectors of the business environment are also outlined such as economic, international, market, political, regulatory, socio-cultural, supplier, and technological. The document also discusses environmental scanning, approaches to scanning, and SWOT analysis.
Environment Analysis Of Apple
Steve Jobs was fired from Apple after a disagreement over the company's direction. He went on to establish Pixar and Next, then returned to a struggling Apple after it nearly went bankrupt. The document discusses how undertaking environmental analysis can help companies gain strategic advantages by understanding changes in their business environment and developing long-term strategies. It outlines techniques like SWOT analysis, trend analysis, and scenario development that companies can use to scan, monitor, and forecast changes in order to strategically assess opportunities and threats.
Environmental analysis & forecasting
The document outlines the stages of environmental analysis and forecasting for organizations:
1) Scanning detects early warning signals and identifies emerging trends in the external environment.
2) Monitoring analyzes trends over time to determine patterns and issues requiring further analysis.
3) Forecasting anticipates future changes to key variables to identify threats and opportunities and help with strategic planning.
4) Assessment evaluates the potential impacts of forecasts on the organization to determine implications.
Etop analysis(ENVIRONMENT THREAT AND OPPORTUNITY PROFILE (ETOP)
Definition of environment
Overview of environment scanning
Techniques of environment scanning
Environment means the surroundings, external objects, influences or circumstances under which someone or some thing exits.
Environmental scanning is a process of gathering, analyzing, and dispensing information for tactical or strategic purposes.
It is a process of dividing the environment into different sectors and then analyzing the impact of each sector on the organization.
Etop presentation
An environmental threat and opportunity profile (ETOP) describes external factors that can impact an organization. It helps identify opportunities and threats, consolidate strengths, provide strategic information, and formulate strategies. Developing an ETOP involves identifying major environmental factors like economic, political, social, technological, competitive, and geographical factors. These are analyzed to determine weaknesses/strengths and their favorable, unfavorable, or neutral impact.
Ppt presentation on environmental scanning
Environmental scanning involves collecting, analyzing, and distributing information for strategic purposes. It allows businesses to understand what opportunities exist in their environment and what threats might challenge their position. When conducting an environmental scan, businesses should research factors like technology, the economy, politics, competitors, and their own community. This helps them identify appropriate business ideas and develop strategies to get ahead of competitors.
Environmental scanning-ppt
Environmental scanning involves systematically gathering, analyzing, and disseminating information from inside and outside an organization to identify opportunities and threats. It helps organizations effectively utilize resources, formulate strategies, and predict the future. Key factors to consider include trends, issues, expectations, and events in the external environment. Approaches to environmental scanning include systematic, ad hoc, and using secondary data. PEST analysis examines the political, economic, sociocultural, and technological factors in an organization's macro environment. SWOT analysis identifies internal strengths and weaknesses and external opportunities and threats.
Environmental scanning
Environmental scanning is the process of gathering, analyzing, and disseminating information about events and trends in an organization's external environment to help managers make decisions and identify opportunities and threats. It monitors political, economic, social, technological, and ecological events and trends to detect potential impacts. The purposes of environmental scanning include effective resource use, monitoring resources, strategy formulation, identifying threats and opportunities, and predicting the future. Approaches to environmental scanning include systematic collection of continuous internal and external data and using secondary data from external sources. Tools for environmental scanning analysis include ETOP analysis, SWOT analysis, PEST analysis, and reviewing strengths, weaknesses, opportunities, and threats.
Business environment scanning dr pramila patil
Environment scanning is defined as the process organisations use to monitor their relevant environment to identify opportunities and threats in order to make strategic decisions. There are systematic, ad hoc, and periodic approaches to environment scanning using secondary sources, mass media, internal sources, external agencies, formal studies, and spying. Techniques include forecasting, scenario analysis, spying, management information systems, and quick environment scanning techniques to appraise the environment and identify strategist, organisation, and environment related factors.
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This document discusses various techniques for environmental scanning and monitoring, including SWOT analysis, PEST analysis, QUEST analysis, competitor analysis, and industry analysis. It provides overview and descriptions of each technique. SWOT analysis involves identifying internal strengths and weaknesses and external opportunities and threats. PEST analysis examines political, economic, social and technological macroenvironmental factors. Industry analysis helps understand a company's position relative to competitors. Competitor analysis assesses strengths and weaknesses of current and potential rivals.
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Environmental scanning, internal environment, external environment
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Etop analysis(ENVIRONMENT THREAT AND OPPORTUNITY PROFILE (ETOP)
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The document discusses different frameworks for analyzing the external environment that may impact an organization, including PEST analysis, SWOT analysis, and PESTLE analysis. PEST analysis examines the political, economic, social and technological factors in the macro environment. SWOT analyzes the internal environment and micro environment. PESTLE is an extended version of PEST that also considers legal and environmental factors. It is important to continuously analyze how external factors are changing and may affect an organization in both the near and long term.
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Environmental scanning is one part of analyzing the global environment and refers specifically to examining the macro environment. The macro environment includes industries, markets, companies, clients, and competitors, while the micro environment analyzes suppliers, customers, and competitors within a given industry. Environmental scanning involves studying and interpreting political, economic, social, technological, environmental, and legal events, trends, issues, and expectations that influence businesses and markets. Common approaches to examining these external factors include PESTEL and analyzing the six factors - political, economic, social, technological, environmental, and legal.
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It concludes by noting legal factors like
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Business Administration CapstoneBUS499The External Environme.docx
Business Administration Capstone
BUS499
The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis
Welcome to the Business Administration Capstone.
In this lesson we will discuss the external environment: opportunities, threats, industry competition, and competitor analysis.
Please go to the next slide.
Objectives
Upon completion of this lesson, you will be able to:
Identify how the six segments of the general environment affects an industry and its firms
Identify the five forces of competition that impacts an industry
Analyze the external environment for opportunities and threats that impact the firm
When you complete this lesson you will be able to:
Identify how the six segments of the general environment affects an industry and its firms;
Identify the five forces of competition; and
Analyze the external environment for opportunities and threats that impact the firm.
Please go to the next slide.
Supporting Topics
The General, Industry, and Competitive Environments
External Environment Analysis
Segments of the General Environment
Industry Environment Analysis
Interpreting Industry Analysis
Strategic Groups
Competitor Analysis
Ethical Considerations
In order to achieve this objective, the following supporting topics will be covered:
The general, industry, and competitive environments;
External environment analysis;
Segments of the general environment;
Industry environment analysis;
Interpreting industry analysis;
Strategic groups;
Competitor analysis; and
Ethical considerations.
Please go to the next slide.
General, Industry, and Competitor Environments
Six Dimensions of Environmental Segments
An integrated understanding of the external and internal environments is essential for firms to understand the present and predict the future. As shown on the figure on the slide, a firm’s external environment is divided into three major categories: the general, industry, and competitor environments.
The general environment is composed of dimensions in the broader society that influence an industry and the firms within it. We group these dimensions into six environmental segments:
Demographic;
Economic;
Political/legal;
Sociocultural;
Technological, and
Global.
The industry environment is the set of factors that directly influences a firm and its competitive actions and competitive responses:
The threat of new entrants;
The power of suppliers;
The power of buyers;
The threat of product substitutes; and
The intensity of rivalry among competitors.
How companies gather and interpret information about their competitors is called competitor analysis. Understanding the firm’s competitor environment complements the insights provided by studying the general and industry environments.
Please go to the next slide.
External Environmental Analysis
Opportunities
Threats
Scanning
Monitoring
Forecasting
Assessing
Most firms face external environments that are highly turbulent, comp ...
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Environmental scanning is the process of monitoring an organization's external environment for detecting early signs of opportunities and threats that may influence its performance and potential future. This document discusses various techniques for environmental scanning, including SWOT analysis, ETOP analysis, QUEST analysis. SWOT analyzes internal strengths and weaknesses and external opportunities and threats. ETOP creates a profile of external threats and opportunities. QUEST is a suite of options for environmental scanning used by various organizations to develop a shared understanding of the future and key environmental variables.
PESTEL-ANALYSIS.pdf
A PESTEL analysis is a framework that analyzes the external macroenvironment factors that influence an organization. It assesses the Political, Economic, Social, Technological, Environmental, and Legal factors (PESTEL) to identify threats and opportunities. The results are used to inform a SWOT analysis. The document provides examples of factors to consider under each category, such as government policy, economic growth rates, population trends, technological changes, environmental regulations, and legal standards. It outlines steps to perform a PESTEL analysis including brainstorming relevant factors, analyzing their impact, and discussing how to manage the most significant threats and opportunities.
Session 06 - External analysis.pptx
This document discusses strategic analysis of the external environment. It provides an overview of tools for assessing the nature of the organization's environment and scanning environmental influences. These include analyzing the general, industry, and competitive environments. Key frameworks covered are PESTEL analysis, Porter's five forces, and the SWOT analysis. SWOT involves identifying internal strengths and weaknesses and external opportunities and threats. It is used to formulate strategies by matching strengths to opportunities and threats, and weaknesses to opportunities and threats.
Environmental scanning
Environmental scanning is the process of gathering, analyzing, and sharing information about a company's external environment for strategic purposes. There are three types of environmental scanning: ad-hoc scanning for crises, regular scheduled scanning, and continuous scanning. Environmental scanning examines both the macro environment including political, economic, social, and technological factors (PEST analysis), as well as the micro environment including competitors, customers, and a company's internal environment. Environmental scanning helps managers predict future market conditions to make strategic decisions.
ACCA_F1_Chapter 2.pptx
The document outlines various factors in the business environment including political, legal, social, technological, and competitive forces. It discusses analyzing the environment using tools like PEST and Porter's five forces model. Various legislation protecting employment, data, health and safety, and consumers are also covered.
Pest Analysis
PEST analysis is a framework that analyzes macro-environmental factors including political, economic, social and technological factors that influence an organization. It has been extended to STEEPLE and STEEPLED to include additional factors such as legal, environmental and demographic factors. The analysis provides an overview of external factors to consider in strategic planning and decision making. As factors vary in importance between industries and companies, the relevant factors should be identified and given greater focus. PEST analysis can be combined with other tools like SWOT analysis to assess opportunities and threats from external environmental factors.
THE MACRO ENVIRONMENT
The document discusses various frameworks for analyzing the macroenvironment that can impact an organization, including PESTLE, PEST, STEEPLE, and DESTEP. It provides details on the factors considered in a PESTLE analysis, including political, economic, social, technological, legal, and environmental. For each element, it lists specific external influences that organizations have little control over but must consider, such as government policies, economic growth rates, social values, new technologies, laws and regulations, and environmental issues.
Topic 3.ppt
The document provides an overview of PESTLE analysis, which is a framework used to analyze the macroenvironmental factors that may have a significant impact on a business. It examines the Political, Economic, Social, Technological, Legal, and Environmental factors (PESTLE). Each factor is described in terms of its key elements and examples are provided to illustrate how changes in these external factors can influence industries and companies. The document emphasizes that PESTLE analysis is an important tool that executives use to identify opportunities and risks posed by the broader business environment.
PESTN ANALYSIS
The document discusses using a PESTN analysis to analyze the external environment of an organization. It explains that a PESTN analysis considers political, economic, socio-cultural, technological, and natural factors. Each of these factors is then defined and examples are provided of how they influence organizations. The analysis also provides a specific example of using PESTN to analyze Coca-Cola and identifies several political, economic, social, and technological factors that impact Coca-Cola's operations.
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Environmental scanning
- 2. DEFINITION Environmental scanning can be defined as ‘the study and interpretation of the political, economic, social and technological events and trends which influence a business, an industry or even a total market. The factors which need to be considered for environmental scanning are events, trends, issues and expectations of the different interest groups. Issues are often forerunners of trend breaks.
- 3. MODES OF SCANNING There are three modes of scanning Systematic scanning - Information related to markets and customers, changes in legislation, regulations having a direct impact on the organization's activities, government policy etc. are collected continuously by taking relevant factors into account Ad-hoc scanning - Conducting special surveys and studies to deal with environmental issues from time to time Processed-form scanning - Using information in a processed form available from different sources inside and outside the organization
- 5. The six environmental factors of the PESTEL analysis are the following: Political factors Taxation Policy Trade regulations Governmental stability Unemployment Policy etc. Economical factors Inflation rate Growth in spending power Rate of people in a pensionable age etc. Technological factors Technological changes New or improved distribution channels Improved communication and knowledge transfer etc.
- 6. Environmental factors Laws on Waste disposal Energy consumption Pollution monitoring etc. Legal factors Unemployment law Health and safety Product safety Advertising regulations Product labelling etc.
- 7. Social factors. Changes in social trends can impact on the demand for a firm's products and the availability and willingness of individuals to work. In the UK, for example, the population has been ageing. This has increased the costs for firms who are committed to pension payments for their employees because their staff are living longer. It also means some firms such as Asda have started to recruit older employees to tap into this growing labour pool. The ageing population also has impact on demand: for example, demand for sheltered accommodation and medicines has increased whereas demand for toys is falling.
- 9. Strengths: characteristics of the business or team that give it an advantage over others in the industry. Weaknesses: are characteristics that place the firm at a disadvantage relative to others. Opportunities: external chances to make greater sales or profits in the environment. Threats: external elements in the environment that could cause trouble for the business.