chap 2: challenges in the external environment Flashcards
refers to the expertise, insight, and wisdom possessed by an entity
Organizational Intelligence
serves as a valuable guide to its journey to becoming competitive
Organizational Intelligence
capability that organizations need to possess to be able to accurately audit the environment and come up with creative and cutting-edge strategies
Organizational Intelligence
is the study and interpretation of the forces existing in the external and internal environments. identify problems
Environmental scanning
It is carefully monitoring the surroundings with the end goal of ascertaining early indications of prospects and challenges that may influence the organization’s present and future plans.
Environmental scanning
it includes social, economic, political, technological, and environmental forces that may influence an organization, an industry, or an entity.
Environmental scanning - external environment
it covers competitors, suppliers, customers, stakeholders, culture, and the government.
Environmental scanning - competitive environment
Scanning the environment involves two processes:
- looking at or simply viewing information
- looking for or searching for information
The individual is exposed to information with no specific informational need in mind.
Undirected Viewing
The sources of information are wide-ranging and large chunks of information are quickly dropped from the individual’s attention.
Undirected Viewing
The individual directs viewing of information to specified facts and data to be able to assess their general impact on the organization.
Conditioned Viewing
It is not an active search but a mere viewing of information.
Conditioned Viewing
facts and data to achieve mission amd vision
strategic information
This essentially involves a relatively unstructured effort where the objective is to gather Information to expound on the issue.
Informal Search
The effort exerted by the individual is deliberate and planned.
Formal Search
The search is both focused and Structured and the research methodology is clearly enumerated and followed.
Formal Search
is a structured assessmerit toal used to evaluate an organization, industry, a place, or even a person in terms of set parameters like strengths, opportunities, and threats. weaknesses
SWOT Matrix Analysis
It classifies strengths and weaknesses as internal dynamics characterizing an organization and threats and opportunities as external influences to the organization.
SWOT Matrix Analysis
are features that organizations possess, thus, giving it significant advantage over others.
Strengths
are characteristics that place organizations at a disadvantage relative to others. These may just be limitations or vulnerabilities of organizations.
Weaknesses
are possibilities in the external environment that organizations can exploit to their advantage.
Opportunities
are challenges in the external environment that can cause problems to organizations.
threats
it presents varying forces that influence organizational direction and strategic decision-making.
external environment
The confluence of these forces can present themselves as threats and challenges to organisation.
external environment
