Pob stage 2_session_1_lecture_1 without notes
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This document provides an overview of an introduction to business lecture. It discusses the internal and external environments businesses operate within, including the competitive environment. Specifically, it covers the internal factors of organizational culture and politics. Externally, it examines the micro environment of suppliers, intermediaries, competitors and customers. It also mentions the various elements of the macro external environment businesses must consider. The learning outcomes are to understand how these different environments impact business decision making.
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Supermarkets have strong bargaining power over Coca-Cola as they:
- Buy in large volumes
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The document discusses analyzing a company's general environment and sources of competitive advantage. It examines factors like economics, demographics, politics/law, and technology on a global scale. It also outlines different types of competitive advantages like cost leadership, differentiation, and competitive scope. Cost leadership is defined as having a cost-conscious culture and limiting waste and perks. Alignment of vehicles, arenas, differentiators, and economic logic are suggested for pursuing a low-cost strategy globally.
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Chapter # 02 the organizational environment
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- 1. Principles of Business Lecture 1: Introduction to the Business Environment Stage 2 Session 1
- 2. Overview • Recap – what is a business? • What environments does a business operate in? • The Internal Environment • The External Environment • The Competitive Environment 2
- 3. Learning outcomes of this Seminar • To be able to define the environments in which a business operates • To be able to distinguish between the internal and external environments and how they impact on business decision making • To be able to explain the explain the difference between the micro and macro environment • To appreciate the concepts of organisational culture and politics 3
- 4. What is a Business? 4 Large Medium Small Major corporates Public Utilities Government Agencies Franchise networks, chains of medium sized companies Private hospitals, educational establishments Not for profit businesses Small businesses Co-operatives, social partnerships Small associations and charities Economic goals, private benefit Mixed goals, mutual benefit Social goals, public benefit Adapted from Preston and Others (2012) What is a Business, Open University, Milton Keynes
- 5. The environments a Business Operates in MACRO EXTERNAL MICRO EXTERNAL INTERMEDIARIES INTERNAL Structure Culture Resources SUPPLIERS COMPETITORS CUSTOMERS POLITICAL ECONOMIC SOCIO-CULTURAL LEGAL TECHNOLOGICAL ENVIRONMENTAL
- 6. Internal Environment - Culture
- 7. What influences Organisational Culture? Artifacts Values Assumptions
- 8. Drennan (1992)’s twelve factors • The influence of a dominant leader • The history and tradition of the business • The type of technology used or the type of goods or services produced • The industry or sector the business is in and the nature of competition it faces • The customers of the business • Company expectations • Types of information and control systems • The external environment in which the business operates • The procedures and policies in place • The reward systems that exist • How the business is organised and resourced • The goals, values and beliefs David Drennan (1992) Transforming Company Culture: Getting Your Company from Where You are Now, to Where You Want to be; McGraw Hill
- 9. The internal political environment Office Politics … Or Office Relationships?
- 10. Personal Stakeholders Your manager You Your colleagues Your subordinates Project Sponsor Internal Suppliers Senior Managers Budget holders Internal Customers
- 11. Organisational Stakeholders Bank Organisation Employees managers Directors Trade Unions Shareholders Suppliers Competitors Customers Financiers
- 12. Stakeholder Mapping Level of Interest Low High Low Level of Power High Category A Minimal effort Take action if they acquire a stake Category B Keep informed Ensure they do not form powerful coalitions Category C Keep Satisfied Ensure they do not feel marginalised Category D Key Player Ensure involvement is maintained Johnson G and Scholes K (1999) Exploring Corporate Strategy, Prentice Hall
- 13. The External Environment – The Micro Environment MICRO EXTERNAL SUPPLIERS INTERMEDIARIES COMPETITORS CUSTOMERS
- 14. SUPPLIERS Bargaining power of suppliers similar to that of buyers BUYER POWER POTENTIAL ENTRANTS THREAT OF SUBSTITUTES INDUSTRY RIVALRY Threat of substitute products or services Bargaining power Porter (1980) • Size/concentration of buyers vs makers • Buyers’ switching costs • Buyers’ information • Buyers’ ability to backwards integrate Price sensitivity • Cost of product relative to total cost • Product differentiation • Competition between buyers • Economies of scale • Absolute cost advantages • Capital requirements • Product differentiation • Access to distribution channels • Govt. & legal barriers • Retaliation by existing producers • Buyers’ propensity to substitute • Relative prices and performance of substitute products • Concentration • Diversity of competitors • Product differentiation • Prod’n capacity levels • Exit barriers • Cost conditions
- 15. The Macro External Environment • The Political Environment • The Economic Environment • The Sociological Environment • The Technological Environment • The Legal Environment • The Environmental Environment
- 16. In summary • Recap – what is a business? • What environments does a business operate in? • The Internal Environment • The External Environment • The Competitive Environment
- 17. Next session • In the next two seminars we will be doing case studies • The first will look at and provide you with an opportunity to undertake a stakeholder analysis using the Johnson and Scholes model • The second will look at and provide you with a chance to look at Porter’s five forces model • In the second lecture we will be looking in more detail at the macro external environment and at some tools that are available to carry out environmental mapping
- 18. End of Lecture Note: This recording is for your personal use only and not for further distribution or wider review. © Pearson College 2013