MGT 247 Chapter Notes - Chapter 3: Switching Barriers
Document Summary
Chapter 3: analyzing the external environment: general environment= trends in the broader society that influence an industry and the firms in it, demographic, economic, political/legal, sociocultural, technological, global and physical changes, outside the firms direct control. Demographic trends= changes in population size, age structure, geographic distribution, ethnic mix, and income distribution. Economic trends= the direction of the economy in which a firm competes or may choose to compete. Political legal trends= changes in organizations and interest groups that compete for a voice in developing and implementing the body laws and regulations that guide interactions among firms and nations. Sociocultural trends= changes in a society"s attitudes and cultural values. Technological trends= changes related to creating new knowledge and translating that knowledge into new products, processes, and materials. Global trends= changes in relevant emerging and developed country global markets, important international political event and critical changes in cultural and institutional characteristics of global markets.
