BUSI7770 DB3 Reply 1 Stco

docx

School

Liberty University *

*We aren’t endorsed by this school

Course

770

Subject

Management

Date

Nov 24, 2024

Type

docx

Pages

Uploaded by ElderExplorationAnt24

Discussion Board 3 Reply Discussion Thread: External Environment, Power / Weakness, and Decision Models Reply Summary In continuing this week’s discussion on External Environment Power. The introduction of your post tells us that the macro-environment includes six key elements: political factors, economic circumstances, sociocultural influences, technological factors, environmental variables, and legal/regulatory conditions. It is the broad environmental context in which a corporation is positioned. “When a company decides an industry is fundamentally attractive, a strong case can be made that it should invest aggressively to capture the opportunities it sees. When a strong competitor concludes an industry is relatively unattractive, it may elect to simply protect its present position, investing cautiously, if at all, and begin looking for opportunities in other industries.” (Gamble, 2020, pg. 61) The primary industry and competitive environment, in contrast to the macro-environment, zoomed in on the competitive dynamics of the firm's industry by examining the behaviors of its many constituents, including customers, suppliers, competitors, new entrants, and alternative products. Critique Overall, the information you provided and the research you delivered were substantial. For example, Managers must continually assess how these environments affect businesses to make better decisions because macro- and microenvironments have an impact on a firm's strategic directions. The content of your post was informative, and the research information provided was

substantial and supportive of the initial topic of discussion on external environment evaluation. “Since complex and turbulent environments can be desirable, but since many businesses are uncertain about how to cope with such situations, it makes sense to identify ways to handle such environments.” (Mason, 2007)

REFERENCES Gamble, J. E. (2020). Essentials of Strategic Management: The Quest for Competitive Advantage (7th ed.). McGraw-Hill Higher Education (US). https://mbsdirect.vitalsource.com/books/9781260785791 Links to an external site. Mason, R.B. Links to an external site. (2007), "The external environment's effect on management and strategy: A complexity theory approach", Management Decision Links to an external site. , 45(1);10-28. https://doi.org/10.1108/00251740710718935 Links to an external site.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Related Documents

AG-1-Updated-2.docx

Organizational Innovation.doc

BSBFIN601 Self Study Guide.docx

Adaptive Leadership Questionnaire.docx

Contingency Plan 1.docx

How do you think clothing choices affect the relationships we form.odt

Wk8Assgn-WMBA-6000-LeadershipPart1-Part2.docx

1.18dx-800-Mochacww.docx

EN 254.G.skh 1500.docx

Defaultas.docx

Conflict Management.docx

As a manager of the department- you reviewed the sales report- and sal.docx

Recommended textbooks for you

Management, Loose-Leaf Version

Management

ISBN:9781305969308

Author:Richard L. Daft

Publisher:South-Western College Pub

Foundations of Business - Standalone book (MindTa...

Marketing

ISBN:9781285193946

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:Cengage Learning

Foundations of Business (MindTap Course List)

Marketing

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:Cengage Learning

Marketing

ISBN:9780357033791

Author:Pride, William M

Publisher:South Western Educational Publishing

Principles of Management

Management

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax College

Understanding Management (MindTap Course List)

Management

ISBN:9781305502215

Author:Richard L. Daft, Dorothy Marcic

Publisher:Cengage Learning

SEE MORE TEXTBOOKS

Recommended textbooks for you

Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing
Principles of Management
Management
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax College
Understanding Management (MindTap Course List)
Management
ISBN:9781305502215
Author:Richard L. Daft, Dorothy Marcic
Publisher:Cengage Learning