| ★ | Lecture 02 - Input: External Environment Flashcards
Give for each Input Factor (3) , ..
🌴📈🏛️ / 💀↔️👮♂️
.. possible areas for managerial constraints & opportunity
Environment (Current contexts)
- s ocio-political
- t echnological, ,
- e conomic,
- e nvironment
- l egal
Resources
- I ntangible
(reputation, knowledge, skills) - T angible
(people, plant, $)
History (Past)
- b ehavior
- p olicies
- p erformance
Strategic planning
Tools and Frameworks (3)
Why do managers emphasize inputs?
♟️📡 (2x2)
To plan and develop a strategy, managers must ..
- Scan and monitor
the general environment - Gather intelligence about
the competitive environment
Doing so is part of a SWOT analysis
- Strengths, Weaknesses
(Internal: resources, history) - Opportunities, Threats
(External: environment)
PEST scenario/ analysis (6)
general environment
PEST scenarios / analysis, is a strategic framework that assesses macro-environmental factors affecting an organization or industry. It examines six key categories:
P - Political,
E - Economic,
S - Social,
T - Technological,
E - Environmental,
L - Legal.
Describe the competitive environment / 5 Forces (5)
The “Five Forces” model is a strategic framework, that assesses the structure (competitive forces) within an industry. These forces include:
threat
- of new entrants
- of substitute products or services
bargaining power
- of buyers,
- of suppliers,
rivalry
- among existing competitors
What is SWOT analysis? (3)
- Which parameters are internal and which are external?
- What is it used for?
- Internal: resources, history (Strength >< weakness)
- External: environment (Opportunities >< threats)
Gaining knowledge about
industry and firm conditions.
Use the matrix (stakeholder management perspective) to understand the impact of different stakeholders (2)
💲⭐️❌❓
The matrix is based on two main dimensions: Interest, Power (BCG Matrix: Growth / Market Share)
The combination of these two dimensions results in four quadrants
in the matrix: manage closely, keep satisfied (💲 = Cash Cow)
- Optimum Cash Flow
💲>❓, - Success Sequence
💲>❓>⭐️, - Disaster Sequence
⭐️>❓>❌ or 💲>❌
- Identify different forces of the competitive environment. (5)
- Diskuss how each force can be leveraged
(value chain perspective) (4)
Porters five forces - are competitive forces:
- Threat of New Entrants
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Competitive Rivalry
Organizations can leverage these forces through strategies like
1. Differentiation
2. Innovation
3. Supply chain management
4. Cost leadership
What is PEST(EL) analysis?
- Name 1 example for each factor!
- What is it used for?
- P olitical: Tax policy
- E conomic: Inflation and interest rates
- S ocial: Population growth
- T echnological: Developments
- E nvironmental: Climate change
- L egal: Laws
Gaining knowledge about the general environment
What is SWOT analysis? (2)
- Which parameters are internal and which are external?
- What is it used for?
- Internal: Strength (resources, history), weakness
- External: Opportunities, and threats (environment)
Gaining knowledge about industry and firm conditions
What is PEST(EL) analysis?
- What is it used for?
- Case Study: Roche
Name one example for each factor!
Gaining knowledge about the general environment
-
P olitical
Tax policy, Ukraine, Brexit, Privatisation -
E conomic
Inflation & interest rates, GDP, COVID-19 -
S ocial
Population growth & aging, obesity -
T echnological -
Digitalization, Customization, Social Media -
E nvironmental
Climate change, Sustsinability -
L egal
Fraud & Infringement (Patent Expiration, Cyber Security), country dependent
What are Porter’s five forces? (4)
- What is it used for?
Gaining knowledge about the competitive environment
Name 2 examples for
- Environment,
- Ressources
- History
(Input: Congruence Modell)
Environment
- Market
- Gouvernements
Resources
- Tangible - People, Plant, Capital
- Intangible - Reputation, Knowledge
History
- Behavior
- Policies
- Performance
Name two examples of how to plan and strategize in the face of radical uncertainty!
sheed
Design thinking & foresight methods
Foresight methods used to predict and plan for the future are ..
- s cenario planning
- h orizon scanning
- e xpert interviews
- D elphi esurveys
- trend analysis
Name two major sources of entry barrier which restrict new entrants!
- Capital requirements
- Economies of scale
(“Skaliere die Produktion, Kosten werden kleiner – Economy of Scale, das merk’ ich mir feiner!”)
