Chapter 4 Flashcards
(14 cards)
task environment
this is monitoring trends in the societal and natural environments
fragmented industry
no firm has a large market share
strategic group
a set of business units or firms that pursue similar strategies with similar resources
defenders
these companies focus on improving efficiency
environmental scanning
monitoring and the dissemination of information relevant to organizational strategy
prospectors
focus on product innovation and market opportunities
STEEP analysis
those elements or groups that directly affect a corporation
analyzers
these companies focus on at least two different product market areas
reactors
these companies lack consistent strategy - structure - culture
substitute product
product that satisfies the same need and might be less expensive
natural environment
includes physical resources, wildlife and climate that are an inherent part of existence on Earth
societal environment
mankind’s social system that includes general forces that do not directly touch on the short-run activities of the organization, but that can influence its long-term decisions
industry analysis
an in-depth examination of key factors within a corporation’s task environment
consolidated industry
domination by a few large firms, each struggles to differentiate products from its competition
