In this module we investigate conditions in the environment that may be present when planners are determining strategies for the firm. Legal, social and cultural limitations exist to bind the firm to certain behaviors. As we know, the world has experienced a global pandemic and has had to adapt, therefore certain external factors that may not have been present before are certainly active now.
Let’s address how managers are communicating on a large stage in the aftermath of a global pandemic as we all navigate around our new normal. Answer the two questions associated with this module’s readings. Please share examples for this discussion board.
- How can organizations effectively align their resources and capabilities with their external environment to achieve a sustained competitive advantage?
- How do firms identify internal strengths and weaknesses, and why is it vital that managers have a clear understanding of their firm’s strengths and weaknesses?
• Complete Discussion Question by Thursday evening no later than 11:59pm, and respond to at least two classmates by Sunday before 11:59pm est.
• You have to post your discussion before you can see any other replies.
• Use APA (Links to an external site.) formatting
Discussion Question Tips:
o Avoid repeating of explicit information in the text. Formulate answers that can be interpreted through various perspectives.
o Compare, contrast, and look for connections between articles assigned on a given day with each other or with past articles assigned for class.
o Look for gaps in authors’ reasoning or statements that you find problematic.
o Think about the broader issues that the author’s arguments point to. What are the broader implications?
o Look for connections between theoretical pieces assigned and concrete actions that can be taken to put them in practice.
o Consider connections to current event issues.
Make certain that all posts or responses address the question, problem, or situation as presented for discussion. You should extend the topic, but do not stray from the topic. When relevant, add to the discussion by including prior knowledge, work experiences, references, web sites, resources, etc. (giving credit when appropriate).
Discussions occur when there is dialogue; therefore, you need to build upon the posts and responses of other learners to create discussion threads. Contributions to the discussions should be complete and free of grammatical or structural errors.
- Assignment Description
Identify the external and internal environment of a company or organization in the same industry as the company you will be creating for the final Capstone project. Through this process of researching, it will tie together and expand the knowledge area for the final Capstone project.
External factors are influences outside of a company that can impact a business. Most dominantly, this includes the economic and political environment of a country, competitors, technological changes, and customers. There can be slight variations of this as indicated in the Environmental Factors diagram. Factors outside of a company that affect its ability to operate are considered part of the external environment. Some external elements can be manipulated by marketing while others require the company to make adjustments. Many times, these external factors are difficult to control or even predict, and can be downright confusing. Managers should oversee the basic components of their company’s external environment, continually keeping close watch for any significant changes.
Internal factors are the strengths and weakness of a company that can affect how the company meets its main goals and objectives. Factors such as leadership styles, the company’s mission statement, and its organizational culture are frequently considered to be internal. Employee behavior is defined by the company’s internal environment. This internal environment is made up of the variables within the company that include the current employees, management, and the corporate culture. Companies need to have the proper people in place in order to motivate their team of employees and to have knowledge of the different factors that can affect a company’s earning potential. Assignment Instructions
- Name the company and state the product or service
- What is the Industry (i.e. airline, beverage, chemical, electronics, etc).
- Identify the mission statement and provide your opinion of the company’s corporate culture
- What is the company’s leadership style?
- Describe the current market environment
- Identify threats and why they are perceived as threats
o Include at least five:
- Laws and Regulations (Coercive restrictions)
- Economic Factors
- State of technology
- Demographics affecting the firm
- Social issues
- Supplier initiatives
- Resource constraints (natural and human)
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