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Lecture 2

WDW346H1F Lecture 2 Sept 19th.doc

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Woodsworth College Courses
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Ted Mock

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th WDW346H1F Lecture 2 Sept 19 , 2012. Internal and External Environmental Influences Job Analysis Group project- Scanning • From business point of view, try to keep in touch on the issue that has an impact on business • Every companies have to scan on all kind of issues that potentially impact their business • Environmental scanning: 1. Economics: - interest rates (interest rates in Canada is low rates, Bank of Canada set the interest rates very low to stimulate the economic but no so low it can put cause of inflation; 1970s, stag flation- low economic growth, inflation increase, intervention in the private sector, wages price control of 3 years plan), companies borrow money to expand; - Unemployment rates- now, average is 8%; Saskatchewan - Exchange rates-Canadian dollar- USD; when CAD lower than USD it is best for Canadian business (Canadian productivity is lower than American productivity; but if a person Canadian is more productivity that American); sore state in the America because of the debt, Canadian emphasis in the resources, public debt affects business taxes - Fiscal policies- conservative – what’s good for the business best for the companies, try to reduce the intervention in the private sector, less regulation and control on the resources; - Labour market issues- aging workforce 2. Competition- emerging competitors and business market 3. Technology- impacts on products, production method, communications, numbers and skills requirements of workers and managers in the future, eHR? 4. Government legislation- politics and legislation ; Changing the immigration policies - Federal legislation: - Provincial legislation - Contract Law - Common Law - Legislation at other provinces or country they operates 5. Globalization- global economy, let go where the business needed, job disappear, 1991, taste of globalization at Mexico, lost half of manufacturing job, globalization makes everyone competitive, the lost of job to the lower market but it bring opportunity, Germany is an example that strive the challenge of globalization by having superior product, Canadian’s steel, rust bell in US- heavy manufacturing site before; low wage or high quality foreign competition affects Canadian firms’ ability to complete 6. Social issues- norms and values of society 7. Multiple stakeholders- a.k.a. constituent groups - Shareholders - Customers - Suppliers - Public - Unions - Employees Challenge in Environmental Scanning • Predicting the future • Isolating the significant from insignificant • Proactive approach Technique for scanning 1) Trend analysis 2) Delphi technique- ask the experts 3) Nominal group technique 4) Impact analysis- past trends are analyzed and a panel of experts attempt to identify future probable events and study their effects on the extrapolated trend 5) Keeping on top of current events as well as developments and changes in all areas listed above Job analysis Group project 2- Scanning project 1. Each group need to adopt a Canad
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