...Sadler (2003) asserts that many factors in the external environment cause a lot of turbulence and uncertainty for organizations. According to him the environment often imposes major constraints on the choices managers make for their organizations. To add to the above, Gareth & Hill (2008) also observed that since performance is the major objective of an organization, it is generally accepted that the structure and decision making in an organization is influenced by environmental complexity and volatility. There are many variables in a firm’s external environment which strategic managers must be aware of. First and foremost, a firm’s external environment consists of variables and trends that do not directly touch on the short run activities of the firm but can, and often do influence its long-run decisions. These trends are found in the firm’s societal environment; also known as the macro-environment and they include economic, technological, political-legal and socio-cultural forces that influence decision making in organizations. Secondly, there are variables in a firm’s external environment which directly affect the organization and are in turn affected by it. These are found in the task environment; also known as the micro-environment. Daft (2008) views the task environment as the sectors with which an organization interacts directly and that have a direct impact on the organizations ability to achieve its goals. A corporation’s task environment can be seen as the...
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...Collins History 105 June 15, 2014 Foreign policy, whether for or against, seems to be the center or major problem in most of the international incidences, that have occurred recently. A) Two or three (2-3) international events from the past five years that can be traced back to a foreign policy created after the Civil War. 1. Sri Lankan government policy towards India against support of China - Sri Lankan government had a foreign policy towards India that was not supportive of China and that has led to a strained relationship between these two Nations. Tamilian issues were not completely addressed by Sri Lankan foreign policy and the recent atrocities against Tamil provoked the Tamilnadu state to pressurize the central government though this is Sri Lanka internal policy but in its foreign policy they couldn’t relate to the sentiments of Tamil people in India. The Indian government did not attend the Commonwealth Heads of Government Meeting (CHOGM) Summit which was held in Colombo, Sri Lanka. The protest of the Sri Lankan Government towards the Tamils of Sri Lanka forced the Prime minister of India to stay away from the CHOGM summit. The long civil war with Liberation Tigers of Tamil Eelam (LTTE) in Sri Lanka did not patch up the relations between Sri Lanka and Tamilnadu and Tamil people forced Prime minister of India to boycott CHOGM. 2. Somalia’s foreign policy influenced by Muslim fundamentalism...
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...the external environment refers to the market, clients, stakeholders, etc. 1.2 PEST ANALYSIS According to Kotler (1998), PEST analysis is a useful strategic tool for understanding market growth on decline, business position and direction for operations. The use of PEST analysis can be seen effective for business and strategic planning, marketing planning, business and product development and research. In order to survive, be profitable and maintain their competitive advantage, organizations have to recognise and take advantages of the external environments as well as identifying and consider threats when developing strategies. One of the most commonly used analytical tools for assessing external factors in a business situation is PEST analysis. Pest is an acronym for Political, Economic, Social and Technological external factors. PEST analysis is beneficial when conducting research before beginning a new project or to help conduct market research. Also, PEST analysis helps to determine how the external factors will affect the performance and activities of a business in the long run. Pest analysis is often used in collaboration with other analytical business tools like SWOT analysis and Porter’s Five Forces to give a clear understanding of a business situation and related internal and external factors. The external factors in the PEST analysis can be broadly categorised...
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...Forces outside the firm’s traditional boundaries are increasingly important in determining the firm’s success. These forces in “the environment of business” differ among nations and over time, continually confronting the firm with new issues that require modifications in strategies and management practices. Managing in the context of turbulence has become an ongoing reality. Readers will learn how to modify their strategies and management practices and adapt to this new reality. SOCIAL FORCES The subject of ethical codes and CSR crystallizes many social challenges. At the one extreme are those who, like Milton Friedman (1970/2001), advocate the guiding principle of shareholder value maximization as the sole determinant of managerial decisions. At the other extreme are those who expound an altruistic philanthropy based on philosophical beliefs concerning universal ethics, such as those related to human rights. Within this range of perspectives, many authors offer distinct typologies for analyzing social forces and for developing appropriate firm responses to each set of social forces. Meanwhile, the rise of activist groups who threaten public criticism and boycotts means that even Friedman’s dictum of maximizing shareholder value now requires a wide range of CSR strategies. Some analysts, such as Porter and Kramer (2006), believe that each firm should create a competitive advantage through appropriate CSR strategies. From this perspective, CSR morphs into political strategies...
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...Michael Porter’s Five Forces Model (5FM) was published in 1980 and since then has been used extensively to analyse the environment that a firm is operating in or intends to enter. The author uses an extra force which was added to the original 5 by the then C.E.O of Intel Andrew Grove. This force was called the complementors which Prasad feels has enhanced the model further. Complementors refer to the role played by external factors on a firm’s environment. For example the role played by the Irish government in the Irish airline industry with the control of the airports by the Dublin airport Authority (DAA) and not allowing a private company (Ryanair) build a new terminal at Dublin airport. It is used to understand the strategic position of the firm in relation to the extensive forces it has to deal with in an effort to be profitable. If the firm has a clear understanding of its strengths it can take advantage of them but also in case of weaknesses it can improve their situation and avoid making costly errors. It has traditionally been used to assess if new products/services or new markets will be profitable and to decide suitable strategies going forward. “Who controls the present controls the past; who controls the past controls the future.” (George Orwell) In the article the author (Ajit Prasad) asserts that although the 5FM is useful but in order for a firm to assess its ability to enter a new market, it is vital for the decision maker to understand the culture and the history...
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...historical context; whether it relates to economic, political or warfare, command has always been vested in the hands of the few. If we relate “these few” to a group of people who exercise power in terms of making decisions (be it economic/social/political etc) for ALL the people they govern, we call this process or system a “Government”. In a command economic system, this government basically owns and controls most of the economic resources of the country. This “Command” economic system is also known as “socialism” or “communism” (McConnell – Economics) In any economic system decisions have to be made regarding production of goods and services, price setting, education, expenditure on infrastructure, resource allocation, resource/property ownership, resource distribution, establishment of industries and businesses, salaries for individuals etc. In a Command Economic System, all these decisions are taken by the Centre/Government. Public in general/ individuals in general do not have any “say” in such government decisions. Practically speaking, “Absolute” command economy doesn’t exist in this world, even near perfect “command economy” of Soviet Union/Russia had private/market influences in its system. McConnell states North Korea and Cuba as near to perfect Command Economic Systems. Pakistan too took a step towards socialism/nationalization in Zulfiqar Ali Bhutto’s era in 1970s, which later had to be discontinued in wake of emerging capitalist economic forces at that time. Market...
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...being the concrete expression. Progress, in thispeculiar sense, not only means the advancement of scientific learningbut also the improvement of human society. The growingconsciousness of Man from little more than an ape to a fully thinkinganimal has led to a higher level of organisation and stability within hiscommunities, which were to become later on villages and cities. Overtime, with the development and expansion of human activities, theorganisation of these local units became more defined, and norms andlaws were developed to control them. Again, all along History, we findmany systems devised by various civilisations and peoples for thepurpose of ruling and governing, we observe the influence of personalor collective interests on the policies of governments and the outcomeof conflicts, and we hear of and sometimes witness the contribution of individuals either to the prosperity or ruin of a particular state orcountry. Such evolutions and variations, past and present, in the ideasand practices behind the organisation and administration of humansocieties are the proper subjects of Political Science. Definition and Scope of Political Science. 1. According to the Oxford English Dictionary, political science refers tothat branch of knowledge concerned with political activity andbehaviour. Considering the very wide varieties of political activities andbehaviours, and the constant changes that they undergo, thisdefinition is still a general statement that informs the reader of little...
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...1. Which step in the purchase decision is represented by the following statement? Based on how their expectations have been met, a consumer might make positive or negative comments in social media. * a. Information search * b. Alternative evaluation * c. Post-purchase behavior * d. Needs recognition 2. Fulfillment of what type of need is more likely to have a positive influence on brand loyalty? * a. Hedonic * b. Cognitive * c. Physiological * d. Utilitarian 3. Which statement BEST defines Customer Relationship Management? * a. A marketing approach designed to increase marketing campaign performance through more efficient use of resources. * b. An effective means of dealing with the reams of data that result from serving large customer markets. * c. A tool for aggregating customers' demographic, geographic, and behavioral traits into unified profiles for enhanced relationship management. * d. A management philosophy centered on customers, supported by a data warehouse and analytic processes. 4. Which of the following is NOT a stage in the buyer-seller relationship? * a. Making a relationship difficult to replace * b. Rewarding loyalty with incentives * c. Stimulating interpersonal social bonds * d. Encouraging new relationships to form 5. Which term defines the segmentation technique that is based on information collected by the U.S. Census Bureau? * a. Demographic * b. Behavioral...
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... Criteria reference | To achieve the criteria the evidence must show that the student is able to: | Task no. | Evidence | 1.1 | Identify the purposes of different types of organization | 1 | | 1.2 | Describe the extent to which an organization meets the objectives of different stakeholders | 1 | | 1.3 | Explain the responsibilities of an organization and strategies employed to meet them. | 1 | | 2.1 | Explain how economic systems attempt to allocate resources effectively | 2 | | 2.2 | Assess the impact of fiscal and monetary policy on business organizations and their activities | 2 | | 2.3 | Evaluate the impact of competition policy and other regulatory mechanisms on the activities of a selected organization | 2 | | 3.1 | Explain how market structures determine the pricing and output decisions of businesses | 3 | | 3.2 | Illustrate the way in which market forces shape organizational responses using a range of examples | 3 | | 3.3 | Judge how the business and cultural environments shape the behavior of a selected organization | 3 | | 4.1 | Discuss the significance of international trade to UK business organizations | 4 | | 4.2 | Analyze the impact of global...
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...■■■■■■■■■■■■■■■I —^ The views expressed in this paper are those of the author and do not necessarily reflect the views of the Department of Defense or any of its agencies. This document may not be released for open publication until it has been cleared by the appropriate military service or government agency. STRATEGY RESEARCH PROJECT •» BE THE REAGAN WAY: USING LEADERSHIP SKILLS FOR STRATEGIC SUCCESS BY LIEUTENANT COLONEL WILLIAM E. COBURN United States Air Force Reserve DISTRIBUTION STATEMENT A: Approved for Public Release. Distribution is Unlimited. USAWC CLASS OF 2000 U.S. ARMY WAR COLLEGE, CARLISLE BARRACKS, PA 17013-5050 " ■ "■"" "" 20000320 086 USAWC STRATEGY RESEARCH PROJECT THE REAGAN WAY: USING LEADERSHIP SKILLS FOR STRATEGIC SUCCESS by Lieutenant Colonel William E. Coburn U. S. Air Force Reserve Dr. Robert Murphy Project Advisor The views expressed in this academic research paper are those of the author and do not necessarily reflect the official policy or position of the U.S. Government, the Department of Defense, or any of its agencies. U.S. Army War College CARLISLE BARRACKS, PENNSYLVANIA 17013 DISTRIBUTION STATEMENT A: Approved for public release. Distribution is unlimited. ABSTRACT AUTHOR: TITLE: FORMAT: DATE: William E. Coburn The Reagan Way: Using Leadership Skills for Strategic Success Strategy Research Project 10 April 2000 PAGES: 22 CLASSIFICATION: Unclassified In spite of many critics who belittled his...
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...Global Balance Abstract The global balance of power is defined by the pursuit of national goals in conjunction with the pursuit of transnational goals. Achieving global balance is critical to the success of nations. The United States and the European Union are examples of democratic entities that work on a global level through foreign policy to achieve national initiatives. This is evident through world trade systems, military involvement, common belief systems and the desire for our world to prosper socially, economically, politically and environmentally. Maintaining independent sovereign nations is achievable through collective work in the global sphere. The modern world is a complex combination of beliefs, cultures, societies and government combined to create global sources of power. Achieving balance within those multi-faceted sources of power is an ongoing struggle. While individual nations focus on their own needs, it is within the best interest of the global society to pursue goals that shape our collective world into a balanced representative entity. The global balance of power is not only defined by the pursuit of national goals, but transnational goals, as well. When one or more nationalities formally join to create a political union, this action constitutes a modern nation-state. According to Bergman and Renwick (2008), “The nation demanded personal dedication and allegiance from its citizens. Therefore, the perfect state was a nation-state...
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...Introduction In recent years, to talk about changes and transformation in Turkish foreign policy have become common place1. Since the end of Cold war, many books and articles have been published claiming that Turkey’s external relations have undergone a profound change2. Most commentators when analysing Turkish foreign policy in the 1990s perceived a significant qualitative transformation in comparison with the foreign policy conducted during the Cold War, which is often described as passive and reactive. An assertive and multi-directional foreign policy was developed, and Turkey became much more active in its neighbourhood, establishing ties with the Caucasus and the Turkic Republics, participating in peacekeeping missions in the Balkans, promoting economic relations with Black Sea countries, increasing economic and political ties with the Middle East. However, a darker side of this activism in foreign policy was observed in the 1990s, when Ankara’s ready resort to the threat or the use of military force was particularly visible. Regular military incursions in Northern Iraq to crush PKK forces, threats against Syria, with troops amassed at the border in 1998, hard rhetoric during the Russian S-300 missiles crisis planned to be deployed in Cyprus in the same year are a few examples (Park 2005). In 1995, the Turkish Parliament announced that if Greece expanded its territorial waters from six to twelve miles, Turkey would go to war and war almost happened over ...
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...The study of International Human Resource Management (IHRM) has focused mainly on the policies, practices and strategies of Human Resource practitioners in individual multinational firms. The goal of this special issue is to move beyond this narrow focus at the enterprise level and situate HRM within wider economic, organizational, political and institutional contexts. HRM differs across countries but to date the comparative literature has tended to focus on cultural issues. Research that systematically analyzes socio-economic, institutional and societal contexts and their impact on HRM remains underdeveloped and there is a significant opportunity for work which draws on theory from adjacent fields - e.g. the varieties of capitalism literature, theories of cross-national organization and research in comparative political studies and economic geography all offer potentially useful frameworks. Companies are socially embedded on different levels; local economies, regional districts, national institutions, international networks and transnational regulation are all aspects of the social, organizational and economic structures in which companies are situated. Despite the all-pervasive talk of globalization, the seasoned international business traveller will be acutely aware of differences in the ‘way of doing things’from country to country and from region to region. Such differences are seldom more apparent than in the field of organization and management. Not only will...
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...Different laws exist in different countries not only in the area of marketing mix variables but also for other business decisions like location of plant, level of production, employment of people, raising money from the market, accounting and taxation, property rights including immovable property and patent and trade marks, cancellation of...
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...applied to political states or their economic systems. Balance of power is a distribution of power in which no single nation is able to dominate or interfere with others. Imperialism is the policy of extending a nation's authority by territorial acquisition or by the establishment of economic and political hegemony over other nations. Indigenization means to transform things to fit the local culture. Most changes in original culture occur when western corporations impose their products on other economies, Westernizing. German problem is basically refers to the difficulty of finding Germany’s place in the international system. Regionalization is the process of dividing an area into smaller segments called regions. One of the more obvious examples of regionalization is the division of a nation into states or provinces. Expansionism: A nation's practice or policy of territorial or economic expansion. Imperial overreach is a hypothesis which suggests that an empire can extend itself beyond its ability to maintain or expand its military and economic commitments. Hard power is the use of military and economic means to influence the behavior or interests of other political bodies. Soft power is a persuasive approach to international relations, typically involving the use of economic or cultural influence. Mutually assured destruction is a US doctrine of reciprocal deterrence resting on the US and Soviet Union each being able to inflict unacceptable damage...
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