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Block 1 (Marketing (Misson & Vision, Microenvironment, Satisfying…
Block 1
Marketing
Misson & Vision
Microenvironment
Satisfying
customer or market requirements
New product or service
Macroenvironment
FINANCE
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Innovations
- high expense and risk
Supports
development
and expansion
Investment
Assessing
external business environment
INNOVATION
Progression
Continuous improvement
Maintaining competitive advantage
Societal changes create opportunities
Operations
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Product/Service design
Marketing
- potential changes to strategy which will affect operations
Processes - Transformation /
Design
New product
processes
Ext. Environment
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Need to
adapt
&
innovate
with trends
Changing economic situation
Affecting business cycle
Competitors using similar
innovations
Globalisation
Can limit
innovation
Outsourcing
Expand into new markets
Competitive
markets
Design Thinking
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Vital for
competitiveness
Research required to understand customer or
market requirements