Scanning the Environment

Question 1

External Environment

Answer 1

Natural Environment
Societal Environment
Task Environment

Question 2

general forces that influence its long run performance.

Answer 2

Societal Environment

Question 3

Forces of Societal Environment

Answer 3

• Economic Forces
• Technological Forces
• Political Forces
• Socio-Cultural Forces

Question 4

includes those elements / groups that directly affect a corporation and in turn are affected by it.

Answer 4

Task Environment

Question 5

scanning of socio-cultural, technological, economic, ecological and political-legal environment.

Answer 5

STEEP Analysis (PESTEL Analysis)

Question 6

Porter’s Five Forces Analysis

Answer 6

• Rivalry Among Existing Competitors
• Threat of New Entrants
• Threat of Substitute Products and Services
• Bargaining Power of Suppliers
• Bargaining Power of Buyers

Question 7

is a category of firms based on a common strategic orientation and a combination of structure, culture & processes consistent with that strategy.

Answer 7

Strategic Types

Question 8

What are the 4 categories/general type

Answer 8

Defenders
Prospectors
Analyzers
Reactors

Question 9

companies with a limited product line that focus on improving the efficiency of their existing operations.

Answer 9

Defenders

Question 10

are companies with fairly broad product lines that focus on product innovation and market opportunities

Answer 10

Prospectors

Question 11

are corporations that operate in at least two different product- market areas.

Answer 11

Analyzers

Question 12

are corporations that lack a consistent strategy-structure-culture relationship.

Answer 12

Reactors

Question 13

the frequency, boldness and aggressiveness of dynamic movement by the players accelerates to create a condition of constant disequilibrium and change.

Answer 13

Hyper competition

Question 14

Forecasting Techniques

Answer 14

Extrapolation
Brainstorming
Expert Opinion
Delphi Technique
Statistical Modeling
Prediction Markets
Scenario Writing

Question 15

is the extension of present trends into the future.

Answer 15

Extrapolation

Question 16

is a non-quantitative approach that simply requires the presence of people with some knowledge of the situation to be predicted.

Answer 16

Brainstorming

Question 17

is a non quantitative technique in which experts in a particular area attempt to forecast likely developments.

Answer 17

Expert Opinion

Question 18

in which separated experts independently assess the likelihoods of specified events.

Answer 18

Delphi Technique

Question 19

is a quantitative technique that attempts to discover causal or explanatory factors that link two or more time series together.

Answer 19

Statistical Modelling

Question 20

is a recent forecasting technique enabled by easy access to the internet.

Answer 20

Prediction Markets

Question 21

scenarios are focused descriptions of different likely future presented in a narrative fashion

Answer 21

Scenario Writing

Question 22

is a tool that compares the firm and its rivals and reveals their relative strengths and weaknesses so a company would know, which areas it should improve and, which areas to protect.

It helps to understand the external environment and the competition in a particular industry.

Answer 22

Competitive Profile Matrix (CP)