appled eco quiz Flashcards
The segments relate to the functions of the government in monitoring the different economic and business-related activities. The government takes care of the proper use of its economic resources.
political
concerns are energy consumption, practices used to develop energy sources, renewable energy efforts, minimizing a firm’s environmental footprint, availability of water as a resource, and producing environmentally friendly products.
environmental
interests are women in the workforce, workforce diversity, and attitudes about the quality of work life.
Social
This segment focuses on the role of the human resources, its development and the society.
Social
pertains to product innovations, application of knowledge, focus of private and government.
technological
This segment supported R&D expenditures. Modern technology aims to increase production with limited cost.
technological
Include inflation rates, interest rates, trade deficits or surplus, personal savings rate and gross domestic product.
Economical
These segments are all related o determine how the economy performs.
Economical
Covers antitrust laws, taxation laws, deregulation philosophies, labor training laws, and educational philosophies and policies.
legal
was created in the 1960’s by business gurus, Edmund P. Learned, Roland Christensen, and Kenneth Andrews in their book, Business Policy, Text, and Cases.
SWOT analysis
an analytical framework that can help a company meet its challenges and identify new market.
SWOT
it can re-state its vision and mission and eventually formulate and develop more effective strategies.
Strength
will enable that company to re-channel the use of its current resources to other productive use, and minimize the loss.
Weakness
makes business or firm more competitive.
Opportunity
are beyond the control of the managers/owners but a better understanding of both their internal and external environments, specifically the competitors, may help planners/managers to design strategic plans.
Threats
5 forces model:
Threats of new entrants
Threats of substitutes
Bargaining power of buyers
Bargaining power of supplier
Rivalry among existing competitors
It was developed in 1979 by Michael E. Porter of Harvard Business Schoo
PORTER’S FIVE FORCES OF COMPETITIVE POSITION ANALYSIS.
The model encourages organizations to look beyond direct competitors when assessing strategy and, instead, consider broader environmental forces
PORTER’S FIVE FORCES OF COMPETITIVE POSITION ANALYSIS.
New entrants to an industry, or new businesses in an industry, certainly drive competition, which further heightens rivalry among firms.
Threats of new entrants
This force addresses how easily suppliers can drive up the price of goods and services.
the power of supplier
It is affected by the number of suppliers of key aspects of a good or service, how unique these aspects are and how much it would cost a company to switch from one supplier to another.
The power of suppliers
Competitors substitutions that can be used in place of a company’s products or services pose a threat.
the threats of product substitutes
The importance of this force is the number of competitors and their ability to threaten a company.
The Intensity of Rivalry Among Competitors
The larger the number of competitors, along with the number of equivalent products and services they offer, dictates the power of a company.
The Intensity of Rivalry Among Competitors
t pertains to the number and size of distribution of firms.
concentration
This factor identifies firms’ differences in goals, strategies, objectives, and costs structures – elements can drive competition.
diversity of competitors
Firms need to make their products unique so these will stand out in the market.
Product differentiators
Refers to a firm’s ability to create more products than what customers demand.
excess capacity
hat high exit barriers do is that they prevent a firm from exiting an industry. This makes firms operate at a marginal profit or loss, driving competition even higher.
exit barriers
