External Environment Flashcards
1
Q
Layers of the Business Environment (outside to inside)
A
The macro-environment
Industry or sector
Competitors and markets
The Organisation
2
Q
PESTEL
A
Political
Economic
Social - Demographics
Technological
Ecological
Legal
3
Q
Homogeneous Products
A
Products are the same
4
Q
Heterogeneous Products
A
Products vary
5
Q
Porter’s Five Forces (competition framework)
A
Bargaining power of supplier
Threat of Entry
Substitute Competition
Buyer Power
Industry Rivalry
6
Q
The Value Net
A
Map of organisations that give opportunities
- Customers
- Complementors (sony music and MP3 players)
- Suppliers
- Competitors
