Strategic Management Essay -- essays research papers

Strategic watchfulnessQUESTIONThe study of the external environment is a crucial step in the mapping of business strategy for an organization.Discuss how the assessment of external forces stack be performed with business examples to support your analysis.CONTENT PAGE 1. Question Paper 22. entre 33. PEST Analysis 4 (3.1) Political Legal Environment 4 (3.2) Economic Environment 4(3.3) Social Environment 5 (3.4) technological Environment 54. Industry Analysis 55. The Michael Porter Five Forces 6 (5.1) Threat Of New Entrants 7 (5.2) Rivalry of existing firms 7 (5.3) Threats of substitutes 7 (5.4) Bargaining power of buye r 8(5.5) Bargaining power of suppliers 96. Conclusion 97. Bibliography 108. References 10Introduction Business environment is an agent that will affect all the activities of an organization. Beside, it will bring firms both opportunities and threats because of its uncertainties. Business environment is uncertain, complex & dynamics organization should apply more flexibility & discontinuity ways to manage them. A firm cannot control the environment because it is unpredictable in its come inion and speed of change, such as interest rates, rate of inflation and substitution rate.Business environment can classifies in two categories that are internal environment and external environment. Internal factors close to the company that have a direct impact on the organizations strategy, these factors include employee, customer, suppliers, shareholde r, banker etc. External environment comprises those factors and trends outside the organisation that might have an influence upon an organisation and its future. Many external factors can have an effect upon an organisation - from changes in government legislation to the entry of new competition into a market.... ... more the fact that your supplier realizes you can do it and so needs to respond accordinglyBibliography http//IMBA 702 Cases.htmStrategic caution and Business Policy Entering 21st Century Global Society (Sixth edition) ?Thomas L. Wheelen & J.David yearninghttp//www.Marketing Environment.htmReferencesStrategic Management and Business Policy Entering 21st Century Global Society (Sixth edition) ?Thomas L. Wheelen & J.David HungerBusiness Policy and Strategic Management (Fifth Edition) ?Lawrence R. Jauch & William F.Glueck. Management of Business for GCE A Level & LCCI (2nd Edition) ?Vincent GabrielManagement (Third Edition) ?Kathryn M Bartol & David C MartinStrategic Man agement Awareness and Chance (Third Edition) ?John L ThompsonStrategic Management Theory and Pratice ?G.A.Cole BA MA MIPD MIMgt, Strategic Management (International Edition) ?Alex Miller Gregory G.DessStrategic Management (McGRAW-HILL International Edition) ?Gregory G.Dess & Alex Miller http//www. Porters Five Forces.htm http//www.IMBA 702 Cases.htmhttp//www.Marketing Environment.htmhttp//www. Business Competition.htmhttp//Activity 1 - PESTEL analysis.htm