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STS > module2-bmc2 > Flashcards

module2-bmc2 Flashcards

1
Q

set of external conditions and forces

A
  • Environment
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2
Q

Two components:

A

general environment
industry

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3
Q

overall trends and events in society

A

general environment

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4
Q

consists of multiple organizations

A

industry

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5
Q

provides resources
Source of opportunity and threats
Shapes the various strategic decisions

A

Environment

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6
Q

events and trends that create chances to improve

A

opportunities

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7
Q

events and trends that may undermine

A

threats

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8
Q

opportunity to others, threats to other

A
  • Environmental trend
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9
Q

follows systematic process
- serves as input for the formulation

A

External Environment Analysis Process

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10
Q

External Environment Analysis Process

A

Environmental Scanning
Environmental monitoring
competitive intelligence

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11
Q

critical surveillance/identifying key forces

A

environment scanning

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12
Q
  • tracking environmental trends
A

Environmanetal monitoring

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13
Q

collecting, analyzing, and interpreting information
- monitor moves

A

Competitive intelligence

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14
Q

beyond the control of company

A

physical environment

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15
Q

Elements of the General Environment: PESTEL Analysis

A

Political
economic
socio-cultural
technological
environmental
legal

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16
Q

important tool that executives can rely on
- popular framework

A

pestel

17
Q

political

A

role of governments/TAX

18
Q
  • economic conditions/RATES
A

economic

19
Q

Trends in demographic

A

socio-cultural

20
Q

provided by science/automation

A

technological

21
Q
  • physical condition/disaster
A

environmental

22
Q

courts/law

A

legal

23
Q

The Porter’s Five Forces Analysis

A
  • Threat of potential entrants
  • Bargaining power of suppliers
  • Rivalry of industry competitors
  • Bargaining power of buyers
  • Threat of substitutes

STS (11 decks)

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