10/21/24, 12:34 PM MNG3701 - Strategic planning - LU3: Strategic Analysis: analyzing the external environments. 2/MNG3701-Strategic Planni…
MNG3701 - Strategic planning - LU3: Strategic
Analysis: analyzing the external environments.
2/MNG3701-Strategic Planning IIIA STUDY
SUMMARY NOTES & EXAM PREP 2024-2025
UPDATE
Terms in this set (45)
-Managers can mitigate threats.
Importance of Analyzing -Managers can leverage opportunities.
the External Environment -Gain understanding of potential impacts.
-Understand the source / proximity of factors.
-Groups environmental factors
into six segments:
--Political
--Economic
--Sociocultural
The PESTEL Model --Technological
--Ecological
--Legal
These factors can create:
--Opportunities
--Threats
https://quizlet.com/960136750/mng3701-strategic-planning-lu3-strategic-analysis-analyzing-the-external-environments-2mng3701-strategic-plan… 1/10
, 10/21/24, 12:34 PM MNG3701 - Strategic planning - LU3: Strategic Analysis: analyzing the external environments. 2/MNG3701-Strategic Planni…
-Processes & actions of government bodies
-Firms can shape this factor through:
--Lobbying
--Public Relations
--Contributions
Political Factors --Litigation
Example: Tesla
-Has a build-to-order sales model
-Cuts out dealers
-Dealers are lobbying for new legislation
-Largely macro-economic
Examples include:
--Growth rates
Economic Factors --Levels of employment
--Interest rates
--Price stability
--Currency exchange rates
Society's cultures, norms, and values
-Are constantly in flux
-Differ across groups
Sociocultural Factors Demographic trends
-Present opportunities and threats
-Population characteristics related to age, gender,
family size, ethnicity, sexual orientation, religion, and
socioeconomic class
Application of knowledge
-To create new processes
-To create new products
Innovations in process technology:
Technological Factors -Lean manufacturing, Six Sigma quality, and
biotechnology
Innovations in product technology:
-Smartphones, computer tablets, and high-
performing electric cars such as the Tesla Model S
https://quizlet.com/960136750/mng3701-strategic-planning-lu3-strategic-analysis-analyzing-the-external-environments-2mng3701-strategic-plan… 2/10
MNG3701 - Strategic planning - LU3: Strategic
Analysis: analyzing the external environments.
2/MNG3701-Strategic Planning IIIA STUDY
SUMMARY NOTES & EXAM PREP 2024-2025
UPDATE
Terms in this set (45)
-Managers can mitigate threats.
Importance of Analyzing -Managers can leverage opportunities.
the External Environment -Gain understanding of potential impacts.
-Understand the source / proximity of factors.
-Groups environmental factors
into six segments:
--Political
--Economic
--Sociocultural
The PESTEL Model --Technological
--Ecological
--Legal
These factors can create:
--Opportunities
--Threats
https://quizlet.com/960136750/mng3701-strategic-planning-lu3-strategic-analysis-analyzing-the-external-environments-2mng3701-strategic-plan… 1/10
, 10/21/24, 12:34 PM MNG3701 - Strategic planning - LU3: Strategic Analysis: analyzing the external environments. 2/MNG3701-Strategic Planni…
-Processes & actions of government bodies
-Firms can shape this factor through:
--Lobbying
--Public Relations
--Contributions
Political Factors --Litigation
Example: Tesla
-Has a build-to-order sales model
-Cuts out dealers
-Dealers are lobbying for new legislation
-Largely macro-economic
Examples include:
--Growth rates
Economic Factors --Levels of employment
--Interest rates
--Price stability
--Currency exchange rates
Society's cultures, norms, and values
-Are constantly in flux
-Differ across groups
Sociocultural Factors Demographic trends
-Present opportunities and threats
-Population characteristics related to age, gender,
family size, ethnicity, sexual orientation, religion, and
socioeconomic class
Application of knowledge
-To create new processes
-To create new products
Innovations in process technology:
Technological Factors -Lean manufacturing, Six Sigma quality, and
biotechnology
Innovations in product technology:
-Smartphones, computer tablets, and high-
performing electric cars such as the Tesla Model S
https://quizlet.com/960136750/mng3701-strategic-planning-lu3-strategic-analysis-analyzing-the-external-environments-2mng3701-strategic-plan… 2/10
