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Strategic Management Strategic management is the art and science of formulating, implementing and evaluating cross-functional decisions that will enable an organization
STRATEGIC MANAGEMENT: A TOOL FOR PUBLIC MANAGEMENT? STRATEGIC MANAGEMENT: A TOOL FOR PUBLIC MANAGEMENT? AN OVERVIEW OF THE BELGIAN FEDERAL EXPERIENCE International
Strategic Management Unit 1 Introduction Meaning of Strategy The concept of strategy has been borrowed from the military. In business, as in the military, strategy
Strategic Management Strategic Management Introduction To deal effectively with the wide array of factors affecting the ability of a business to grow and prosper,
Strategic Management and Planning Strategic Planning and Management Development Throughout the business industry the people who are most associated with the business
Submitted by bsolar06 on March 14, 2008
Category: Business
Words: 724 | Pages: 3
Views: 158
Popularity Rank: 84,573
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1) Key source of environmental information
Industry periodicals and general news sources
Analyst reports available on business databases
Interviews with industry experts
Annual reports of existing companies that disclose environmental factors in the Management Discussion & Analysis of risks and assumptions.
2) Key environmental variables
a. Economic: At the macro- and micro- levels, what is the economic environment that will impact your customers and your suppliers? What factors in the economic environment will directly impact your costs and revenue potential?
b. Technological: What old technologies are being used? What new technologies are emerging? Do they help you pursue your business goals, or do they compete with your product or service?
c. Political-Legal: Will you face any restrictive regulations, or a political-legal environment that offers benefits?
d. Sociocultural: What demographic and social trends affect your main customer base or related markets? Will they cause the market to expand or shrink? Are attitudes shifting in favor of your product? Are they shifting against a competitor?
Economic Technological Political-Legal Sociocultural
GDP Trends Total government Antitrust regulations Lifestyle changes
Interest rates spending for R&D Environmental Career expectation
Money Supply Total industry spending protection law Consumer activism
Inflation rates Focus of technological Tax Laws Rate of Family
Unemployment levels efforts Special incentives formation
Wage/price control Patent protection Foreign trade Growth rate of
Devaluation/ New products regulation population
Disposal and Laws on hiring and Age distribution of
Discretionary income promotions populations
Stability of government...
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