Management and Organizational Studies 2320A/B Chapter Notes - Chapter 3: Baby Boomers, Millennials, Competitive Intelligence

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Kenneth Bowlby

Document Summary

It is important to look at the entire business process form the consumers point of view. Must focus on efforts to satisfy customer"s needs that match their core competencies. Greater competition means more choices for consumer which influence buying decisions information about their position with respect to their rivals, enables companies to anticipate changes in the marketplace rather than merely react to them. Examples include review public materials (websites, database, press releases, etc. ), interviewing customers, suppliers, customers, partner, etc. , or analyze rival marketing tactics, prices, hiring, etc. Ethical and legal debate about methods of obtaining information. Macroenvironmental factors demographic, social, technological, economical, and political/legal environment that affect companies (cdstep) Macroenvironmental factors aspects of the external environment culture, Competitive intelligence (ci) used by firms to collect and synthesize. Culture the shared meanings, beliefs, morals, values, and customs of a. Challenge is to have products identifiable by and relevant to a particular group of people.