...PEST Analysis One way of planning your business is to undertake a PEST analysis.1 PEST analysis involves looking at the Political, Economic, Socio-cultural and Technological factors that could affect your business. Every business needs to consider a range of external forces in order to take decisions. For many people imagination is very limited and is coloured solely by their own experience and personal beliefs. This can lead to wish fulfilment or a refusal to see reality or recognise the critical changes that are happening in the world around them. It can also lead to grabbing short-term solutions that, if they do not exacerbate problems, certainly ignore the longer term. In the business world pressure is often applied to take decisions quickly, acting on judgement and instinct rather than careful analysis. There are many driving forces in the external environment that might impact on your business. These can be categorised as: • Social; • Technological; • Economic; • Environmental; and • Political. Social forces Social forces include, for example, changing demography and education, etc. The population in Western Europe is relatively static, but the age bands are changing. The number of older people, for example, is growing rapidly. Technological forces Technological forces are changing dramatically quickly. What effects will this have on your production, marketing and distribution plans? Depending on your market, technology might either raise or lower entry barriers...
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...ROLE ANALYSIS: SOME DEFINITIONS WHAT IS A ROLE? A Role is defined as the “position an individual occupies in a organization, and is identified by the functions and activities he/she performs, in response to the “expectations” of “significant members” in the organization and organizational requirements. WHO IS A ROLE OCCUPANT? The individual who occupies that role is called the Role Occupant. WHO ARE ROLE SET MEMBERS? “Significant members” are those members with whom the Role Occupant has a direct relationship with, which leads them to have certain expectations from the Role Occupant. These ‘significant members’ are called the Role Set members. HOW DOES ROLE ANALYSIS HELP? The process of analyzing the role is termed as a Role Analysis exercise. In a Role Analysis exercise, the role being analyzed is called the Focal Role. A Role Analysis exercise reduces role ambiguity, role conflicts, individual stress and general dissatisfaction from the Role Set members. WHAT ARE KEY RESPONSIBILITIES? KRs are broad group of activities that reflect the main contribution of the Role to the organization and its members. It is more developmental and value added in nature, and spans a long-term horizon. It is therefore defined by what the person can do, based on his/her own assessment as well as those of role set members, who feel the role occupant can perform, with support and training. WHAT ARE ROUTINE RESPONSIBILITIES? RRs are those activities, mainly of a maintenance type...
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...------------------------------------------------- Running header: Job Analysis Methods ------------------------------------------------- Abstract Examination of different methods utilized to create a comprehensive job analysis, including advantages and disadvantages of all approaches. There are several methods that can be utilized to create a comprehensive job analysis. A job analysis provides a better understanding of the positions within an organization, which will allow the recruitment process to be more focused, consistent and thorough. The first method that can be employed to create an effective job analysis is the Critical Incidents Technique. This technique identifies circumstances that arise in a current position, what action was taken, and the consequences of the action, to identify the effective and ineffective behaviors in job performance. These critical situations are documented by interviewing former jobholders, supervisors, or by reviewing documents and logs from the job. Job duties are examined, and then critical incidents are identified to determine poor or good performance issues related to a specific job requirement. This technique is useful for covering job events that may not be covered in a general job description. Identifying atypical circumstances that may arise in a position can aid in finding a candidate that would be an ideal fit. Reviewing these critical incidents also enable the recruitment process to be shaped to include more pointed questions...
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...BLEND TWO COUNTRY ANALYSIS ITALY Task: You will carry out an analysis of Italy today in order to have a general idea of its current state of affairs. To do this you will visit several sites to gather the necessary information. This information should then be transferred in note-form onto the table below. You will then use these notes to give a short, informal presentation during the following class session. Procedure: You will use a well-known analytical tool: THE PEST ANALYSIS. Although this tool was originally created for the business environment, it is now used in many sectors to analyse organisations, projects and systems. STEP ONE: WHAT IS A PEST ANALYSIS 1. First you need to find out what a PEST analysis is: Go to http://www.rapidbi.com/created/the-PESTLE-analysis-tool.html#political Read quickly through the information and write short answers to the following questions: What sort of picture does a Pest analysis offer? Why is it important to take these factors into account? What are some common uses of the Pest? In what situation might you use a Pest in your own professional context? The Table below gives some of the indicators which may be relevant for each category. Can you think of any other factors to consider? Add them to the corresponding column. PEST ANALYSIS TEMPLATE Political / Legal Economic Social Technological - Government organisation / attitude - Economic growth (overall; by industry sector) - Income...
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...the time to look at the macro and the micro environments when completing their business plans and strategies. These external forces will play a big part in shaping the final outcome of the ultimate corporate achievement. Yet, most managers focus only on internal factors and it is fair to say that sales growth and profits remain high on their agenda. The macro environment tends to have a long term impact and requires extensive research. Couple this with the fact that many managers are over worked and under resourced and we begin to see why the process is often not completed. There is no published evidence to confirm this hypothesis, just anecdotal hearsay. The remainder of this article will illustrate an example of a Macro or PESTLE analysis for the pharmaceutical industry. It is set at a very general level but it can be used as a template or adapted to be more specific if required: Political There is now growing political focus and pressure on healthcare authorities across the world. This means that governments will be looking for savings across the board. Some of the questions the industry should ask are: What pressures will be put on pricing? What services will be cut? Will the same selection of drugs be available to everyone? In addition to this, could there be more harmonization of healthcare systems across Europe or the USA? What impact will reforms have on insurance...
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...ORIGINAL WORK AND MATERIALS HAVE NOT BEEN COPIED FROM ANY OTHER WORK (PUBLISHED OR | |OTHERWISE) WITHOUT ACKNOWLEDGEMENT IN THE TEXT. I AM FULLY AWARE OF THE PENALTY OF PLAGIARISM. | | | | |Student’s Name: |Admission No: | I. Company Analysis A. Background [Describe the company’s background.] B. Business Segmentation [Analyse the different businesses of the company.] C. Geographical Segmentation [Analyse the different geographical markets of the company.] D. SWOT Analysis [Perform a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis on the company.] II. Industry Analysis and Peer Valuation A. Porter’s FIVE (5) Forces [Perform the Porter’s FIVE (5) Forces analysis on the industry.] B. Peer Valuation [Perform a peer valuation of the THREE (3) companies using both the extended DuPont and the relative valuation ratios.] III. Company Valuation A. Historical Trends [Using at least THREE (3) years of the company’s historical data, show the historical trends for ratios from ANY FOUR (4) of six primary groups of financial ratios.] B. Forecast [Using ANY ONE (1) of two forecasting techniques, show the steps to estimate at least ONE (1) year forecast of...
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...Jameelah Ross Case 5 Module 5 Factor analysis of survey data confirmed three factors: comfort with research and statistics; the relationship of research and statistics to work; and interest in research and statistics. Pre- and post-survey and achievement data has to be gathered, as well as demographic data. In the quest to improve post-secondary learning environments, team teaching as an androgogical tool has enjoyed sporadic attention, both historically and institution-ally. Instructors and students who have participated in collaboratively taught classes enthusiastically outline its benefits as compared to solo-taught courses. Some recommend team teaching as a fairly low-cost, yet innovative, method of enhancing instruction. “Team teaching most often refers to two or more faculty members who jointly produce a course (Davis,1995). The arrangements vary considerably among teams, and there seems to be little agreement on what constitutes the team part of team teaching or even what to call the arrangement—team teaching, co-teaching, co-enrollment, collaborative teaching, or cooperative teaching. However, empirical analysis of this practice remains scant, particularly over the last two decades. Thus, this study seeks to contribute to a fuller understanding of the efficacy of team teaching as a tool for the improvement of teaching and learning. In so doing, it asks and answers: Is there a statistically significant difference in student...
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...Abstract This paper will include results regarding the following analysis: Benefits versus Intrinsic, Benefits versus Extrinsic, and Benefits versus Overall Job Satisfaction. Charts and graphs have been included into this report. Introduction The information that is provided in the charts and graphs shows the statistical numbers based on the number of employees that were included in the company survey. You will see the differences and similarities between the three categories provided. Benefits and Intrinsic Job Satisfaction Regression output from Excel SUMMARY OUTPUT Regression Statistics Multiple R 0.057961607 R Square 0.003359548 Adjusted R Square -0.012460142 Standard Error 1.08903837 Observations 65 ANOVA df SS MS F Significance F Regression 1 0.251866 0.251866 0.212365 0.646507 Residual 63 74.71829 1.186005 Total 64 74.97015 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept 4.8423386 0.424293 11.41273 5.62E-17 3.994457 5.69022 3.994457 5.69022 Benefits 0.03929547 0.085271 0.460831 0.646507 -0.1311 0.209696 -0.1311 0.209696 Graph Benefits and Extrinsic Job Satisfaction Regression output from Excel SUMMARY OUTPUT Regression Statistics Multiple R 0.324324066 R Square 0.1051861 Adjusted R Square 0.090982705 Standard Error 0.570612506...
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...PEST and PESTLE analysis is a framework used in the environmental scanningcomponent of strategic management. Under PEST and PESTLE analysis are externalfactors which are the major players in the success and failure of an organization. Politicalfactor is the government intervention in the economy. This includes tax policy, labour andenvironmental law, trade restrictions, tariffs, and political stability. Under Economic factor iseconomic growth, interest and inflation rates. These factors directly affect the cost of capitalin business operation as well as the costs in exporting goods and the supply and price of theimported goods in the economy. Social factors include cultural aspects, population growthrate, health consciousness and age distribution while... PEST Analysis The PEST analysis is a useful tool for understanding market growth or decline, and as such the position, potential and direction for a business. A PEST analysis is a business measurement tool. PEST is an acronym for Political, Economic, Social and Technological factors, which are used to assess the market for a business or organizational unit. Political The political area has a huge influence upon the regulation of a business and the spending power of consumers and other businesses. Before I put my product on the market I need to consider issues such as: Tax policy: I will need to look at certain levels of tax. If tax is high it can affect the incomes of customers and it might...
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...Chapter 04 Job Analysis and Rewards Answer Key Changing Nature of Jobs True / False Questions 1. In most modern organizations, jobs are largely well established and change little over time. FALSE 2. Job analysis is the process of studying jobs in order to gather, analyze, synthesize, and report information about job requirements. TRUE 3. Competency based job analysis seeks to identify and describe the specific tasks, KSAOs, and job context for a particular job. FALSE 4. The traditional way of designing a job is to identify and define its elements and tasks precisely and then incorporate them into a job description. TRUE 5. Traditional job design is marked by formal organization charts, clear and precise job descriptions and specifications, and well-defined relationships between jobs. TRUE 6. Changes to jobs have become so radical that the concept of "jobs" is no longer a useful concept in most organizations. FALSE 7. Advances in technology are one of the major reasons for changes in jobs. TRUE 8. A job family is a grouping of positions that are similar in their tasks and task dimensions. FALSE 9. The smallest unit into which work can be divided without analyzing separate motions, movements, and mental processes is called an element. TRUE 10. Many small-business owners, general managers of start-up strategic business units, and top management members perform flexible jobs...
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...SUMMARY Over 6 years of Business Analysis experience with in-depth knowledge of business processes in health care, banking and financial industries ▪ Experienced in interacting with business users to identify their needs, gathering requirements and authoring Business Requirement Documents (BRD), Functional Requirement Document (FRD) and Software Requirement Specification (SRS) across the deliverables of a project. ▪ In-Depth Knowledge in facilitating Joint Application Development (JAD), Rapid Application Development (RAD) and Joint Requirement Planning (JRP) sessions, interviews, workshops and requirement elicitation sessions with end-users, clients, stakeholders and development team. ▪ Strong Knowledge with Iterative approach for Software Development as per Rational Unified Process (RUP). Involved in inception, elaboration, construction & transition phases using rational tools like Requisite Pro, Clear Case and Clear Quest during various phases of RUP. ▪ Experienced in Business Analysis, SWOT Analysis, Gap Analysis, Risk Analysis, Disaster Recovery Planning, Testing and Project Planning. ▪ Extensive knowledge of Medicaid, Medicare, Procedural and Diagnostic codes and Claims Process. ▪ Expertise in EDI and HIPAA Testing Privacy with multiple transactions exposure such as Inbound Claims 837-Institutional, 837-Professional, 837-Dental, 835-Claim Payment/Remittance Advise, 270/271-Eligibility Benefit Inquiry/Response, 276/277-Claim Status Inquiry/Response...
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...Environmental background- Every company uses a tool to check and track the environment they are operating. Walmart uses the PESTLE analysis, which sometimes reffered as PEST analysis, is a concept of marketing principles . Moreover, this comcept is used as a tool by companies to track the environment they are operating in or planning to launch new product or service. PESTLE is a mnemonic which expanded form donates to P-Political, E- Economic, S-Social, T- Technology, L-Legal, and E-Environmental. Let’s see the few below for Walmart- • Political and Legal Environment Walmart donates to the governor but at times it still faces some huge problems like- locking up the employees in store at night, fake sustainability displays, gender discrimination, labor union problems, etc. Till 1998 no steps has taken towards the political aspect and in 2006 it rises up as the No. 1 corporate political contributor. Unstable government also caused hindrance in the path of company expansion. For instance- Walmart was unable to expand in South Africa due to unstable and no proper direction government. • Economic Environment Fortune Magazine named Wal-Mart the nation's most admired company. It now has more revenue and more employees than any other U.S. company. Wal-Mart's growth over the last decade is unprecedented -- the company has gone from being a successful discount retailer to being a dominant force that no other retailer can ignore. When recession hits US, Walmart is one of the...
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...Strategic Management: SWOT analysis’ advantages and disadvantages Decision-making and problem-solving techniques Strategic Management is defined as a set of managerial decisions and actions that determines the long-run performance of a corporation. It includes a variety of tools and analysis which help implement, evaluate and control the general strategy of a company. Strategy formulation begins with a situational analysis and it emphasises the monitoring and evaluating of external opportunities and threats in light of a corporation´s strengths and weaknesses (Wheelen and Hunger, 2006; Saloner et al., 2001). Objective The objective of this report is to describe, analyse and discuss advantages and disadvantages of a concept named SWOT which is an acronym for Strengths, Weaknesses, Opportunities and Threats. These concepts are frequently used as tools for analyzing the external environment of an organisation as well as the internal factors that constitutes its structure (Wheelen and Hunger, 2006). History SWOT analysis came from a research conducted at Stanford Research Institute in the 1960´s. The creation of the SWOT analysis comes from the need to find out why corporate planning failed. The research was funded by the fortune 500 companies to find out what could be done about this. Albert Humphrey together with his team began testing this tool and it suddenly became a corporate planning trend, which seemed to appear first at Du Pont in 1949 (Morrison, 2009; Friesner...
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...5C Analysis While a situation analysis is often referred to as the "3C analysis", the extension to the 5c analysis has allowed businesses to gain more information on the internal, macro-environmental and micro-environmental factors within the environment. The 5C analysis is considered to be the most useful and common method in analyzing the market environment due to the extensive information it provides to a business. Company The analysis of the company allows for the evaluation of the company's objectives, strategy and capabilities. These areas indicate to an organization about the strength of the business model or whether there are areas for improvement, as well as how well an organization will fit with the external environment. Goals & Objectives: An analysis on the mission of the business, the industry of the business and the stated goals required to achieve the mission. Position: An analysis on the Marketing strategy and the Marketing mix. Performance: An analysis on how effectively the business is achieving their stated mission and goals. Product line: An analysis on the products manufactured by the business and how successful it will be in the market. Competitors The competitor analysis takes into consideration the competitors position within the industry and the potential threat it may pose to other businesses. The main purpose of the competitor analysis is for businesses to analyze both the current and potential nature and capabilities of a competitor in...
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...การวิเคราะห์เส้นทาง (Path Analysis) ความหมายการวิเคราะห์เส้นทาง การวิเคราะห์เส้นทาง เป็นการวิเคราะห์สาเหตุ โดยนักวิจัยต้องการศึกษาสาเหตุ ของปรากฏการณ์ต่าง ๆว่ามาจากอิทธิพลของสิ่งใด กล่าวอีกนัยหนึ่งก็คือ นักวิจัยต้องการ ค้นหาว่าตัวแปรตามที่กำลังศึกษานั้น เกิดจากอิทธิพลของตัวแปรอิสระอะไรบ้าง และตัว แปรอิสระนั้นมีอิทธิพลต่อตัวแปรตามมากน้อยเพียงใด (สำเริง บุญเรืองรัตน์, หน้า 91) การอธิบายสาเหตุของปรากฏการณ์ นักวิจัยต้องอาศัยความรู้และทฤษฏีต่าง ๆ มา วิเคราะห์เพื่อตั้งสมมติฐานด้วยการสร้างแผนภาพ (Diagram) แสดงเหตุต่าง ๆ ที่มีอิทธิพล ต่อสิ่งที่ตนเองกำลังศึกษาอยู่ เมื่อนักวิจัยสร้างรูปแบบแผนภาพแสดงสาเหตุดังกล่าวแล้ว ก็หาวิธีทดสอบว่า แผนภาพดังกล่าวเป็นไปตามสมมติฐานที่ตั้งไว้หรือไม่ โดยการวิเคราะห์เส้นทาง (Path Analysis) เทคนิคนี้ ไรท์ (Wright,1934) เป็นผู้คิดค้นขึ้นมา การทดสอบสมมติฐานอาจใช้ วิธีการคำนวณโดยใช้โปรแกรมลิสเรล (LISREL) (การเขียนแผนภาพเพื่อนำไปเขียนคำสั่ง วิเคราะห์ในโปรแกรม LISREL จากตัวแปรอิสระไปยังตัวแปรตามใช้สัญลักษณ์เป็น GA และจากตัวแปรตามหนึ่งไปยังอีกตัวหนึ่งใช้สัญลักษณ์เป็น BE และเขียนตัวเลขกำกับ เส้นทางเรียงจากปลายลูกศรไปต้นลูกศร) ซึ่งโปรแกรม LISREL จะคำนวณค่าสัมประสิทธิ์ สหสัมพันธ์และระดับนัยสำคัญของแต่ละเส้นทาง พร้อมแนะนำเส้นทางที่เหมาะสมให้ด้วย ดังตัวอย่างที่จะกล่าวต่อไปในตอนสุดท้าย ความรู้เบื้องต้นเกี่ยวกับการวิเคราะห์เส้นทาง การวิเคราะห์เส้นทาง (Path analysis) เป็นการศึกษาความสัมพันธ์ของตัวแปรในเชิงเหตุและผล เป็นวิธีที่มีพื้นฐานทางสถิติมาจากการวิเคราะห์การถดถอย (Regression analysis) โดยอาศัยแผนภาพและสมการโครงสร้างของแผนภาพเป็นหลักในการนำม...
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