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Pruett Mgmt. Ch. 3

Management Ch. 3

TermDefinition
Macro environment (list) Law/Politics, Economy, Technology, Demographics, Social Issues/values
Porter's 5-Forces model (list) Competitors, Suppliers, Buyers/switching costs, Threat of New Entrants/Barriers to entry, Threat of Substitutes
New Entrants Easy when barriers are low: i.e. government policy, disadvantages, distribution channels
Substitute Threat posted by alternative: i.e. technology
Compliment Opportunity created when one product is used in conduction with another.
Environmental Analysis (list) Uncertainty, Scanning, Forecasting, Scenario Planning, Benchmarking
Uncertainty Lack of information needed to predict the future.
Scanning Searching for info about the environment
Forecasting Method for predicting how variables will change the future.
Scenario Planning Describes a particular set of future conditions.
Benchmarking Process of comparing and organization practice and technology with those of other companies.
Strong culture Influences how people think and behave, common belief in company goal.
Weak Culture Few common goals, confusion about cooperate goals, unclear guiding principles
Clues to culture Mission statement, business practice, symbols, stories
Compete Exploit a competence or improve internally
Public Relations Work to create a favorable image
Legal Action Engage in legal battles
Political Action Try to influence politicians
Contracting Agreements with outsiders to exchange products, info, patents
Coopting Absorb new outsiders into your company or its planning/leadership work
Coalation Get others to act jointly on political initiatives
Created by: sfrase
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