Marine Institute Ireland, Strategic_Planning_Symbol (Photo credit: Wikipedia)
- PepsiCo (Photo credit: Wikipedia)
Chapter 3 – External Assessment
Overview
Chapter 3 describes how to perform an external strategic management audit.
This involves the following steps:
1. what variables to access
2. where to find information; Look at the Internet “Sources of External Information” provided in Table 3-10
3. how to assimilate external information so that it may provide a foundation for formulating strategies.
Chapter 3 describes how to develop a Competitive Profile Matrix and an External Factor Evaluation Matrix, two widely utilized strategic planning tools.
Learning Objectives:
1. Discuss the nature and role of labor unions in the USA as a corporate strategic issue.
2. Describe how to conduct an external strategic-management audit.
3. Discuss 10 major external forces that affect organizations: economic, social, cultural, demographic, environmental, political, governmental, legal, technological, and competitive.
4. Describe key sources of external information.
5. Discuss important forecasting tools used in strategic management.
6. Discuss the importance of monitoring external trends and events.
7. Explain how to develop an EFE Matrix.
8. Explain how to develop a Competitive Profile Matrix.
9. Discuss the importance of gathering competitive intelligence.
10. Discuss market commonality and resource similarity in relation to competitive analysis.
11. Check out my Pinterest Board and Learn about Michael Porter: http://www.pinterest.com/socialmediaevie/michael-porter/
Tweet your answer to this: explain how Facebook, Twitter, and Pinterest can represent a major threat or opportunity for a company like PepsiCo.
