... ① The first step is called scanning. Through environmental scanning, every segment is analyzed to find trend indicators. Thus, after having examined the segment, indicators for its development are defined. Scanning is also used to detect weak signals in the environment, before these have conflated into a recognizable pattern, which might affect the organization’s competitive environment. ② Environmental scanning is only one component of global environmental analysis. After having identified critical trends and potential events they have to be monitored. The next step in global environmental analysis is called environmental monitoring. It can be defined as 'the process of repetitive observing for defined purposes, of one or more elements or indicators of the environment according to pre-arranged schedules in space and time, and using comparable methodologies for environmental sensing and data collection'.[13] Through environmental monitoring, data about environmental developments are recorded, followed and interpreted. Out of this, historical development changes that are important for the company can be recognized and evaluated. Additionally, the relevance and the reliability of the data sources are tested. Furthermore it is checked, where prognoses are required. ③The direction, intensity and speed of environmental trends are explored through environmental forecasting. Especially the search for possible threats is of importance. A prognosis of trends is necessary to get a picture...
Words: 400 - Pages: 2
...RESEARCH PAPER SERIES CORPORATE SOCIAL RESPONSIBILITY REPUTATION EFFECTS ON MBA JOB CHOICE David B.Montgomery1 Sebastian S. Kresge Professor of Marketing Strategy -Emeritus Graduate School of Business Stanford University Stanford, CA Tel: (650) 723 3029 Email: Montgomery_david@gsb.stanford.edu & Dean, School of Business Singapore Management University Catherine A. Ramus* Assistant Professor Donald Bren School of Environmental Science and Management University of California Santa Barbara, CA 93106- 5131 Email: Ramus@bren.ucsb.edu Tel: (805) 893 5057 Fax: (805) 893 7612 *Corresponding Author 1 The authors’ names are merely alphabetical. 2 CORPORATE SOCIAL RESPONSIBILITY REPUTATION EFFECTS ON MBA JOB CHOICE ABSTRACT In a preliminary study with 279 MBA’s from two European and three North American business schools we find that reputation-related attributes of caring about employees, environmental sustainability, community/ stakeholder relations, and ethical products and services are important in job choice decisions. We use an adaptive conjoint analysis survey tool to discover the relative weighting of a new set of social responsibility job search criteria, including these attributes with traditional job search criteria like financial package, geographical location, etc. In addition, our results show that more than ninety percent of the MBAs in the sample were willing to forgo financial benefits in order to work for an organization with a better reputation for corporate...
Words: 1819 - Pages: 8
...Ford’s business strategy is embodied in our ONE Ford plan. ONE Ford expands on our Company’s four-point business plan for achieving success globally. The four-point business plan consists of the following: Aggressively restructure to operate profitably at the current demand and changing model mix Accelerate development of new products our customers want and value Finance our plan and improve our balance sheet Work together effectively as one team Building on this plan, ONE Ford encourages focus, teamwork and a single global approach, aligning employee efforts toward a common definition of success. It emphasizes the importance of working together as one team to achieve automotive leadership, which is measured by the satisfaction of our customers, employees and essential business partners, such as our dealers, investors, suppliers, unions/councils and the communities in which we operate. We have defined a set of behaviors that are expected of all employees to support the ONE Ford plan. The goal of ONE Ford is to create an exciting and viable company delivering profitable growth for all. We are focused on building: Great Products, a full family of vehicles – small, medium and large; cars, utilities and trucks – with best-in-class quality, fuel efficiency, safety and smart design Strong Business, based on a balanced portfolio of products and global presence; and Better World, accomplished through our sustainability strategy Our aim is to have profitable growth across...
Words: 3172 - Pages: 13
...to convey the detailed environmental analysis conducted, as well as the identified SWOT and PEST analysis, both internal and external environments for Nando’s Restaurant that is based in Singapore. 2. Environmental Analysis 2.1 Definition of Environmental Analysis “Environmental analysis presents information regarding the organization’s current situation with respect to the marketing environment, the current marketing objectives and performance.” (Houghton Mifflin Company. Appendix C Sample Marketing Plan.) “Before developing any marketing strategy, one should immerse in what you know about the markets in which you are interested. One should read all about the markets. Look at what the competitors are doing in those markets. Talk to customers or potential customers in those markets. Consider any trends that affect those markets.” (Don Sexton. 2010. Trump University Marketing 101 – Maco Trends.) 2.2 Importance of Environmental Analysis A marketing environmental analysis is a vital step in identifying all internal and external environmental elements that that might affect the business performance and evaluating the level of threat or opportunity. These factors are largely not able to be controlled by the organisation but the business and marketing strategy is adaptable to take advantage of the opportunities they present while minimising the potential threats. PEST and SWOT are closely related approaches to environmental analysis. PEST analysis measures the market potential...
Words: 1603 - Pages: 7
...ENVIRONMENTAL FACTORS Every organization has rules, regulations, and guidelines that help govern the conduct of their employees, global marketing decisions, and environmental factors. Environmental factors are often divided into two categories namely macro environment and microenvironment. In addition, environmental factors can be political, social, ecological, cultural, technological, and ethical in nature. Whereas, any organization that develops a product or service globally must consider the impact each of the environmental factors may have. For instance, factors can result in the failed attempt to market a product, which may be successful domestically, in other countries where there is a significant market potential. Furthermore, this essay will identify the environmental factors that affect global and domestic marketing decisions, impacts of technology, and the importance of social responsibility and ethics as related to PepsiCo marketing. PepsiCo is a world leader in convenient snacks, foods, and beverages with revenues of more than $39 billion and over 185,000 employees, which conducts both domestic and global marketing(PepsiCo, 2009). At the same time, PepsiCo is committed to protecting their natural resources and operating in a way that minimizes the environmental footprint, with the goal of reaching a net-neutral impact. In addition, as a multinational company, PepsiCo value the unique contributions and perspectives that people from different culture bring to...
Words: 854 - Pages: 4
...full text archive of this journal is available at www.emeraldinsight.com/1472-5967.htm Environmental scan: influence on strategic direction Environmental scan Donald Chrusciel Iowa State University, Ames, Iowa, USA Abstract Purpose – The purpose of this paper is to offer the environmental scan as a valued tool for the facilities management (FM) operation to assist in determining strategic direction. Design/methodology/approach – After defining the environmental scan, its usefulness is explored from the perspective of a single case study public institution FM organisation. Once the information is captured, the potential analysis and value is discussed. Findings – The environmental scan is seen as a valuable tool in the FM organisation to solicit input from both the institution’s administration and the customer community leaders. Through this analysis, the FM organisation can refine its strategic direction by determining what it is doing well, what it should investigate doing, and what it should consider to stop doing. Research limitations/implications – The single case study does raise the issue of generalisability. However, given the nature of what can be gained from qualitative research, the reader is cautioned to take into account appropriate logic and environmental factors when considering transferability. Practical implications – The findings from the FM environmental scan serves to not only aid in determining strategic direction but can also assist the...
Words: 4522 - Pages: 19
...PESTLE Analysis (PEST analysis) The PESTLE acronym. Political Economic Social Technological Legal Environmental PESTLE Analysis is a simple technique which can be used in a fairly sophisticated way, particularly when it is combined with Risk Analysis, SWOT Analysis, an Urgency/Importancy Grid and expert knowledge about the organisation and its external factors. PESTLE Analysis is normally used to help organisations identify and understand the external environment in which they operate and how it will operate in the future. I believe that a version of PESTLE Analysis can be used by the individual for personal development planning. Some people will argue that this is a use for which it was never designed and for which it may be inappropriate. My answer to that is to “try it, it does work for PDP”. The shorter version is a PEST Analysis – missing out Legal and Environmental factors. At the end of this document is an explanation of the use of PESTLE for organisational change. How PESTLE may be used for PDP For PDP purposes view yourself as being ‘the organisation’ – an organisation subject to external factors, and internal factors. 1 For each of the 6 PESTLE factors brainstorm and identify 5-10 things which, based on existing knowledge, may change or are likely to change over the short term, medium term and long term. 2 Then assess/evaluate their likely impact/affect/relevance/importance on/to/for you. · Then narrow these down and rank them for importance/priority...
Words: 669 - Pages: 3
...Purpose The purpose of this paper is to gain an understanding of marine protection areas within Australian waters and to analyse its policy from an environmental and economic viewpoint, in order to forward policy recommendations for future consideration. A Background to Environmental Policy The underlying assumption behind environmental policy is that by designing social intervention we can bring about environmental improvement. However, designing a policy that actually produces the changes you seek is extremely difficult. Chiefly, planning and policy attempt to exercise control, to develop a desired future (Thomas 2007, p.7). But control is difficult enough to achieve over people, let alone trying to control the physical environment (Thomas 2007, p.7). Another fundamental issue for policy-makers is the direction of the policy. In particular they have to consider whether they are attempting to prevent environmental impacts that result from human action, or whether they are attempting to adapt to such changes, consciously or unconsciously (Thomas 2007, p.8). Natural Resources Natural resources have been critical for human welfare since people first started to walk the earth several million years ago (Field 2005 p.27). Natural resource economics is the study of how the flow of goods and services derived from natural resources is, and should be, managed in today’s world (Field 2005 p.37). Field continues to state that resource management problems derive from the underlying...
Words: 3864 - Pages: 16
...Contents INTRODUCTION 1 TASK 1 1 TASK 2 1 2.1. ORGANIZATIONAL AUDIT INCLUDING A SWOT ANALYSIS 2 SWOT ANALYSIS OF EXPEDIA 3 2.2 ENVIRONMENTAL AUDIT WITH REFERENCE TO PORTERS FIVE FORCE MODEL 4 2.3 NEED OF STAKEHOLDER ANALYSIS AND ITS SIGNIFICANCE 5 TASK 3: APPROACHES TO STRATEGY EVALUATION AND SELECTION 6 TASK 4 8 1. Who are responsible for the implementation of effective strategy and define their roles 8 2. What resource requirements are needed for the implementation of effective strategy 9 3. Target and timescales required to be monitored and achieved 9 CONCLUSION 10 REFERENCES 10 INTRODUCTION A strategic planning is very important for the success of any organization. It includes vision, mission and creative thinking. In other words, strategic planning provides a positive direction and also draws the measurable goals. In this report we will discuss about the strategic planning process and its role in the success of an organization. After the detailed examination of strategic context, the problematic sections involved in strategic planning are discussed. Finally, the different types of planning techniques in the context of Vodafone have been discussed. (Olsen,2011) TASK 1 PPT attached TASK 2 Vodafone is the world’s second largest telecommunication company which was founded in the year 1991. The company has more than 400 million customers round the globe with its operations extended in around 30 countries. It also provides telecommunications...
Words: 2684 - Pages: 11
...Managers ITM UNIVERSITY, RAIPUR Master of Business Administration Subject: Principles of Management Semester-I Unit I Introduction - Nature, function, definition and importance of management, Definition, nature, purpose and scope of management, Functions of a manager, an overview of planning, organizing, staffing leading and controlling. Is management a science or art? Unit II Development of Management Thought - Scientific management; Contribution of Taylor, Fayol, Mary Follet, Elton Mayo; Hawthorne experiments, Contingency approach, Indian heritage in production and consumption. Management and administration, Management as a profession, Professionalism of management in India, Management ethics and management culture, Skills required of manager, Classification of skills, Methods of skills development. Unit III Management Planning - Concept of planning, objectives, Nature, Types of plan, Stages involved in planning, Characteristics of a good plan, Importance, Limitations of planning, Making planning effective, Strategic planning in Indian Industry, MBO. Decision Making - Concept, characteristics of decisions, Types of decisions, Steps Involved in decision making, Importance of decision making, Methods of decision making, Committee Decision Making. Unit IV Organisation - Concepts, Principle of organization, Importance, Features of good organization structure, Types of...
Words: 3209 - Pages: 13
...Environmental Scan Barbara Hicks MGT/498 October 26, 2015 Environmental Scan The perception of environmental scanning is important to the short term and long-term success of a business. The environmental scan continued use by present and future businesses to scan, examine, calculate, and project the internal and external elements of their marketplace. Companies use a SWOT Analysis to establish the performance of the markets environment. The company will analyze consumer and competitor’s behaviors, trends, strengths and weaknesses in the market. Performing an environmental scanning and SWOT Analysis is vital to an organization’s success. SWOT Analysis A) give a detailed assessment of the opportunities, trends, and consumer existing in their market environment. B) Establishes an awareness of their markets environment so that their company can increase the strategic planning and decision-making process. (U.S. Department of Health and Human Services, n.d.). C) Establish the internal resources needed to achieve their organizational goals and objectives. D) Establish the vision and strengths to identify the companies’ strengths, weaknesses, opportunities, and threats. (CPS Human Resource Services, 2007). To show the importance of environmental scanning and the competitive advantages that could arrive from using this assessment tool, this paper will conduct an environmental scan on Nike Inc., and A.O. Smith Water Products Company. The environmental scans of...
Words: 1931 - Pages: 8
...towards value creation to all shareholders at the same time even being centered towards society. (Amason, A. 2010) Executive Summary: Strategic Management involves formulation and implementation of strategies to improve the performance and to gain competitive advantage. It involves decisions and acts that managers undertake in order to attain the desired goals. Strategies are planned means to attain end results. Strategic management is long term in nature and gives a direction to the organization. Before going into the usage of Strategic Tools, the paper details strategic management, need for it, approaches for strategy and the strategies involved at various levels. Then a brief of importance of stakeholder analysis in planning is given. My paper would comprise environmental analysis that is required by Wall-Mart in strategic planning to improve its market in escalating competition....
Words: 4279 - Pages: 18
...Heritage Railway Industry -‐ Market analysis Content 1. Introduction ..................................................................................................................................... 1 2. The Five Forces of Porter .................................................................................................................... 2 2.1 Threat of new entrants ................................................................................................................. 3 2.2 Power of suppliers ........................................................................................................................ 3 2.3 Industry competition ..................................................................................................................... 4 2.4 Power of buyers ............................................................................................................................ 4 2.5 Threat of substitutes ..................................................................................................................... 4 3. STEEPLE Analysis ................................................................................................................................. 5 3.1 Social / Culture...
Words: 1801 - Pages: 8
...jklzxcvbnmqwertyuiopasdfghjklzxcvb AF301 ACCOUNTING THEORY nmqwertyuiopasdfghjklzxcvbnmqwer & APPLICATIONS tyuiopasdfghjklzxcvbnmqwertyuiopas dfghjklzxcvbnmqwertyuiopasdfghjklzx Group Seminar Report cvbnmqwertyuiopasdfghjklzxcvbnmq TOPIC:2 – CORPORATE SOCIAL wertyuiopasdfghjklzxcvbnmqwertyuio & ENVIRONMENTAL REPORTING pasdfghjklzxcvbnmqwertyuiopasdfghj klzxcvbnmqwertyuiopasdfghjklzxcvbn mqwertyuiopasdfghjklzxcvbnmqwerty uiopasdfghjklzxcvbnmqwertyuiopasdf ghjklzxcvbnmqwertyuiopasdfghjklzxc vbnmqwertyuiopasdfghjklzxcvbnmrty uiopasdfghjklzxcvbnmqwertyuiopasdf ghjklzxcvbnmqwertyuiopasdzxcvbnm STUDENT NAME MELISA SINGH ASHVINI SAHAYAM SHABINA FARNAAZ SHANEEL PRASAD KRITHNEEL SINGH TOTORIAL DAY / TIME TUTORS NAME GROUP MEMBERS STUDENT ID NUMBER S11066108 S11065177 S11065043 S11065627 S11065615 THURSDAY 8 – 10AM MISS FAZEENA HUSSAIN TABLE OF CONTENTS DECLARATION OF ORIGINALITY ........................................................................................... 3 ACKNOWLEDGEMENT .............................................................................................................. 4 IMPORTANCE OF ACCOUNTING FOR SOCIAL AND ENVIRONMENTAL ISSUES ......... 5 INTRODUCTION .......................................................................................................................... 6 THEORETICAL UNDERPINNING .............................................................................................. 8 LITERATURE REVIEW ....
Words: 12904 - Pages: 52
...What is PEST Analysis? A PEST analysis is an analysis of the external macro-environment that affects all firms. P.E.S.T. is an acronym for the Political, Economic, Social, and Technological factors of the external macro-environment. Such external factors usually are beyond the firm's control and sometimes present themselves as threats. For this reason, some say that "pest" is an appropriate term for these factors. However, changes in the external environment also create new opportunities and the letters sometimes are rearranged to construct the more optimistic term of STEP analysis. Many macro-environmental factors are country-specific and a PEST analysis will need to be performed for all countries of interest. The following are examples of some of the factors that might be considered in a PEST analysis. It is very important that an organization considers its environment before beginning the marketing process. In fact, environmental analysis should be continuous and feed all aspects of planning. The organization's marketing environment is made up from: 1. The internal environment e.g. staff (or internal customers), office technology, wages and finance, etc. 2. The micro-environment e.g. our external customers, agents and distributors, suppliers, our competitors, etc. 3. The macro-environment e.g. Political (and legal) forces, Economic forces, Sociocultural forces, and Technological forces. These are known as PEST factors. Political Factors The political arena has...
Words: 1813 - Pages: 8
