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Environmental Scanning & Monitoring Techniques

Environmental Scanning & Monitoring Techniques

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Published by Angela Lagrada

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Published by: Angela Lagrada on Jan 27, 2012
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04/15/2015

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Environmental Scanning & Monitoring Techniques

.Environmental Scanning Defined ‡ Is a concept from business management by which businesses gather information from the environment. to better achieve a sustainable competitive advantage. To sustain competitive advantage the company must also respond to the information gathered from environmental scanning by altering its strategies and plans when the need arises.

SWOT TECHNIQUES . COMPETITOR ANALYSIS .SWOT Analysis (tool) 2.Techniques 1. PEST 3. INDUSTRY ANALYSIS 4.

The Research Team were Marion Dosher.SWOT TECHNIQUE SWOT Analysis came from the research conducted at Stanford Research Institute from 1960-1970. Robert Stewart. Albert Humphrey. The research was funded by the fortune 500 companies to find out what could be done with this failure. Birger Lie. Otis Benepe. Dr. . The background to SWOT stemmed from the need to find out why corporate planning failed.

Creativity/ability to develop new products .Examples of SWOTs Strengths and Weaknesses . intellectual.Resources: financial.Competitive capabilities . location .

Example of SWOTs ‡ Opportunities and Threats Takeovers Market Trends Economic condition Mergers Joint Ventures Expectations of stakeholders .

Example of SWOTs ‡ Opportunities and Threats Technology Public expectations Competitors and competitive actions Poor public relations development Criticism (editorial) Global markets Environmental conditions .

Set objectives ± defining what the organization is intending to do 3. .USES OF SWOT ANALYSIS 1. this needs to include an assessment of present situation as well a portfolio of products/services and an analysis of the product/life cycle.Internal appraisal of the organizations SWOT. Environmental scanning . Corporate Planning 2.

Establish critical success factors 9. marketing planning and product development and research reports. Preparation of operational. projects plans for strategy implementation 10. Others uses: business planning. Develop new/revised strategies 8. resource. competitor evaluation. .USES OF SWOT 5. Strategic Issues defined 7. Monitoring results 11. Analysis of Existing strategies 6.

PEST ANALYSIS A scan of the external macro-environment in which the firms operates can be expressed in terms of the following factors: Political Economic Social Technological .

1. political stability .Political Factors . tax policy 2.Government regulations and legal issues and define both formal and informal rules under which the firm must operate. environmental regulations 4. employment laws 3. trade restrictions and tariffs 5.

inflation rate . exchange rates 4. Macroeconomy: 1. interest rates 3.Economic Factors .Affect the purchasing powers of potential customers and the firm and the cost of capital. economic growth 2.

Social Factors . emphasis on safety . 1. health consciousness 2. These factors affect customer needs and the size of potential markets.Demographic and cultural aspects of the external macroenvironment. career attributes 5. population growth rate 3. age distribution 4.

Can lower barriers to entry. rate of technological change . automation 3. R&D activity 2.Technological Factors . and influence outsourcing decisions. 1. reduce minimum efficient production levels.

An examination of the important stakeholders¶ group in a particular corporation¶s task environment is a part of industry analysis . .Industry Analysis .An industry is a group of firms producing a similar product or service.

the corporation must assess the importance to its success of each of the six forces .‡ Porter¶s approach to Industry Analysis -A corporation is most concerned with the intensity of competition within its industry -The level of this intensity is determined by basic competitive forces -In scanning its industry.

Buyers ± bargaining power 3. government. 5. etc. Substitutes ± threat of substitute products and services . Suppliers ± bargaining power 4.Forces Driving Industry Competition 1. Other Stakeholders ± relative power of unions. Potential Entrants ± threat of new entrants 2.

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