Management and Organizational Studies 4410A/B Chapter Notes - Chapter 2: Boeing 787 Dreamliner, Dry Cleaning, Vertical Integration

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 4410A/B
• Professor: Raymond Leduc

Document Summary

Better understand the environment that surrounds them. When smart managers feel fx. is murky cannot foreshadow build scenarios scenario planning anticipate fx. changes in external environment. Use swot framework to: organize their analysis about their outlook of environment. Structure their conclusions about their outlook of environment. Scanning, monitoring, competitive intelligence forecasting, and scenario analysis. Environmental scanning: surveillance of firm"s external environment to: predict fx. environmental changes; , detect changes already under way. Want to be able to pick up trends before competitors pick up; or. Knowledge & familiarity with business + customer & eyeing environment spotting key trends. Ask customers questions about your products + services. Find out what media they"re watching & what they think of current events: pay attention. Read trade publications related to industry to identify key issues. Watch industries that are always on cutting edge (i. e. music, fashion, design, etc. ) Discover emerging trends that may affect business.