L7: Environmental scanning

Question 1

Barriers to adaption

Answer 1

• Ignorance
- lack of attention to environment

• Delay

• bureaucratic decision making
• resistance to change

Question 2

Adaption to the environment

Answer 2

• Retrenchment
- continue in the wrong way, but more efficiently

• Gradual strategic repositioning
- slow, planned adaption of strategy

• radical strategic responding
- dramatic change of business model

Question 3

Micro environment

Answer 3

• the actors directly affecting a firm
• customer is probably the most important part of the micro environment

-> customer provides the income that should cover all costs in a firm

Question 4

Macro environment

Answer 4

• broader trends and events affecting a firm

* describes the society where the firm operates

Question 5

Micro analysis

Answer 5

• Customers
• Suppliers
• Substitutes
• New entrants
• Industry

Question 6

Macro analysis

Answer 6

• Economic
• Social
• Political and legal
• Ecological
• Technologic

Question 7

Five megatrends

Answer 7

• broad societal trends are called megatrends

1. Rapid urbanisation
2. Climate change and resource scarcity
3. Shift in global power
4. Demographic and societal change
5. Technical development