ADMS 4900 Chapter Notes - Chapter 2: Aboriginal Title, Competitive Intelligence, Swot Analysis
28 Jan 2017
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Chapter 2: analyzing the external environment of the firm. To understand the business environment of a particular firm, managers need to continuously analyze the general environment and the firm"s industry and competitive environment. General environment: consists of many elements that an organization finds outside its own boundaries and therefore has no control over. Ex: government legislation, general economic trends, globalization, advances in technology, national cultural differences, the general level of education, and an aging population. Industry or competitive environment (from supplier"s viewpoint): is composed of a set of firms that produce similar products or services, sell to similar customers, and use similar methods of production. Ex: molson, labatt, sleeman, moosehead and other minor beer companies, constitute canada"s beer industry. = managers use three important processes: scanning, monitoring, and gathering competitive intelligence to enhance their environmental awareness, better understand the environment that surrounds them, and develop forecasts about the future.
