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In order to understand the threats and opportunities facing an organization, you need a thorough understanding of its external context, including not only its industry, but the larger environment in which it operates. The proper analysis of the external context, together with the firm-level analysis you learned in Chapter 3 (e.g., VRINE, value-chain), allow you to complete a rigorous analysis of a firm and its options. You could say that with these tools you can now perform a thorough and systematic (rather than intuitive) SWOT analysis; that is, an assessment of a firm's strengths, weaknesses, opportunities, and threats.
What else can I help you with?
Why is it important to monitor the macro-environment of a firm?
It is very important to monitor the macro-environment of a firm as they will directly affect the organization. These are external factors that a firm will not have control over and will affect the performance of the business.
What external forces influence a firms strategy?
External forces that influence a firm's strategy include economic conditions, competitive dynamics, regulatory changes, and technological advancements. Market trends and consumer preferences also play a significant role, as they can shift demand and necessitate adjustments in strategy. Additionally, political stability and global events can impact strategic decisions by affecting market access and operational risks. Understanding these external factors is crucial for firms to adapt and remain competitive in their respective industries.
What are advantage and disadvantage of a firm using retrenchment growth strategy?
The advantage is that the wage bill is reduced, the disadvantage of the retrenchment growth strategy is that a firm may loses employee without reaching their full potential.
What is the most important pricing strategy for a perfectly competitive firm?
Minimizing cost
What are differences between international firm and global firm and how to alter from international firm to global firm?
* INTERNATIONAL FIRM - simply do import and export - operates in foreign countries through licensing and franchising - managed by nationals of home country - concentrates in some countries or regions * GLOBAL FIRM - invests and is present in many countries - has affiliates, subsidiaries and branches in many countries - draws resources such as labor,capital and materials from a global pool - pursues global business strategy. * An International firm can become a global firm by pursuing global business strategy
Why is it important to monitor the macro-environment of a firm?
It is very important to monitor the macro-environment of a firm as they will directly affect the organization. These are external factors that a firm will not have control over and will affect the performance of the business.
What are strategy implementation?
How can a firm implement this Strategy.
Is there a market strategy consultancy firm in NC?
TriMark consulting is a company in Raleigh, North Carolina. They offer market strategy consulting for your business with proven performance. Here is their website: http://www.trimarksolutions.com/internet-marketing/consulting/
How a firm's human resources influence organizational performance?
explain how a firm's human resources influence its performance
What is the firm level strategy for Panera Bread?
Discuss Panera's business level strategy
What does the abbreviation "LFA" stand for in the context of a law firm?
"LFA" in the context of a law firm stands for "Legal Financial Assistant."
What is used in information systems to monitor the status of internal operations and the firm's relations with the external environment?
Monitoring tools and systems such as performance dashboards, key performance indicators (KPIs), and information systems that facilitate data collection, analysis, and reporting are commonly used to monitor the status of internal operations and a firm's relations with the external environment. These tools provide real-time insights into the organization's performance and help in making informed decisions based on the data gathered.
KSAs needed by the firm to achieve the strategy and what KSAs are currently resident?
HUMAN RESOURCE KSAs needed by the firm to achieve the strategy and what KSAs are currently resident?
What is strategic audit?
Strategic audits are examinations and evaluations of strategic management processes including measuring corporate performance against the corporate strategy. Whenever a deficiency is noted or performance of an organization is sub-par, the organization may elect to perform a strategic audit. This may be done with in-house auditors, or an audit firm may be contracted to perform the audit. The auditors will audit performance of the organization against the current corporate strategy and seek to identify problems within the current strategy that may be tied or can be traced to poor performance. Upon completion of the audit, a report will be created regarding the auditing firm or group’s findings and submit the report with recommended remedies to the management of the organization. The organization will then seek to implement the proposed remedies with hopes of increasing organizational performance.
What is external secondary data?
External secondary data - data that is obtained outside the firm itself.
Examples of product that using home replication strategy?
When is and what reason is Home replication strategy used. provide a firm that uses home replication strategy.
What is the difference between internal and external growth for a firm?
Internal growth, or organic growth, refers to growth strategies where a firm uses its own resources. External growth involves a firm using or accessing the resources of another firm to grow. Examples of external growth strategies include joint ventures, strategic alliances and acquisitions.
