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Opportunity
condition in general environment that if exploited, helps a company achieve strategic competitiveness (within a vision)
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Threat
condition in general environment that may hinder a company's efforts to achieve strategic competitiveness (within a vision)
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General Environment
environment for all firms and industries
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Industry Environment
factors and conditions influencing a firm's profitability within an industry
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Competitor Environment
focused on predicting the dynamics of competitors' actions, responses, and intentions
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General Environment Dimensions (6)
- 1)Economic
- 2)Sociocultural
- 3)Global
- 4)Technological
- 5)Political/Legal
- 6)Demographic
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Technological Segment
product innovations, applications of knowledge, focus of private and govt. supported R&D expenditures, new communication technologies
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Economic Segment
- Inflation rates, interest rates, trade deficits/surpluses, budget deficits/surpluses,
- personal savings rate, business savings rates, GDP
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Sociocultural Segment
women in workplace, workforce diversity, attitudes about quality of worklife, concerns about environment, shifts in work and career preferences, shifts in product and service preferences
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Global Segment
Global markets, global supply, global political and economic systems, culture and ideologies
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Political Segment
- antitrust and taxation laws, deregulation philosophies, labor training laws, educational philosophies and policies, presidential
- election
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Political/Legal:
- Scanning:identify pattern
- Monitoring:make sense of pattern
- Forecasting:predicting time, scale, and sustainability of influence
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Demographic Segment
population size, age structure, geographic distribution, ethnic mix, income distribution
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Cognitive Limits of Human Beings
- -Bounded Rationality
- -Escalation of commitment
- -Ignorance of small possibility event
- -Illusion of control
- -Pure Bias
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