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Topic: Environmental Scanning

The document discusses various topics related to environmental scanning and industry analysis. It defines environmental scanning as monitoring external and internal factors. It identifies key external factors like the natural environment, societal environment, and task environment. It also discusses industry analysis through tools like STEEP analysis and Porter's 5 forces model. Finally, it covers topics like industry evolution, categorizing international industries, strategic groups, forecasting techniques, and more.

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Khaliq Bangash
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60 views3 pages

Topic: Environmental Scanning

The document discusses various topics related to environmental scanning and industry analysis. It defines environmental scanning as monitoring external and internal factors. It identifies key external factors like the natural environment, societal environment, and task environment. It also discusses industry analysis through tools like STEEP analysis and Porter's 5 forces model. Finally, it covers topics like industry evolution, categorizing international industries, strategic groups, forecasting techniques, and more.

Uploaded by

Khaliq Bangash
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Topic:

Environmental scanning- the monitoring, evaluation and dissemination of information from the
external and internal environments to key people within the corporation

Identifying External Environmental Variables


• Natural environment
• Societal environment
• Task environment
Natural environment
• Physical resources
• Wildlife
• Climate
Societal environment- social systems that influence long-term decisions
• Economic forces
• Technological forces
• Political-legal forces
• Sociocultural forces
Task environment- groups that directly affect a corporation and are affected by the corporation
• Government
• Local communities
• Suppliers
• Competitors
• Customers
• Creditors
• Unions
• Special interest groups/trade associations

Topic:
Industry analysis- an in-depth examination of key factors within a corporation’s task environment

STEEP Analysis- monitoring trends in the societal and natural environments


– Sociocultural-
– Technological-
– Economic-
– Ecological-
– Political-legal forces

Industry- a group of firms that produces a similar product or service


Porter’s 5 forces:
– Threat of new entrants
– Rivalry among existing firms
– Threat of substitute products
– Bargaining power of buyers
– Bargaining power of suppliers
– Relative power of other stakeholders (added)

Topic:
Industry Evolution
• Fragmented industry- no firm has a large market share and each firm only serves a small piece
of the total market in competition with other firms
• Consolidated industry- domination by a few large firms, each struggles to differentiate products
from its competition

Categorizing International Industries

• Multi-domestic Industries- specific to each country or group of countries

• Global Industries- operate worldwide with multinational companies making only small
adjustments for country-specific circumstances

• Regional industries- multinational companies primarily coordinate their activities within


regions

Topic:

Strategic group- a set of business units or firms that pursue similar strategies with similar
resources

Strategic Types

• Defenders- focus on improving efficiency

• Prospectors- focus on product innovation and market opportunities

• Analyzers- focus on at least two different product market areas

• Reactors- lack a consistent strategy-structure-culture relationship


Topic:
Forecasting is based on a set of assumptions
• Faulty underlying assumptions are the most frequent cause of forecasting errors

Useful forecasting techniques

• Extrapolation

• Brainstorming

• Expert opinion

• Industry Scenario

• Delphi technique

• Statistical modeling

• Prediction markets

• Cross impact analysis

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