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Week 6 External analysis: the macro environment - Coggle Diagram
Week 6
External analysis:
the macro environment
1 What is the external environment?
the definition
the enviroenemt levels
meso
organisational
macro
1.1 Why is it important to study the external environment?
the link between strategy and the external environment
understanding competitive forces
understanding how your business is positioned in the external environment
1.2 Trends in the macro environment
‘zeitgeist of instance notification’
increased mobility and accessibility of information
increased consumer desire for choice and control
2 The STEEPLE framework
definition
factors
E – economic factors
E – environmental factors
T – technological factors
P – political factors
S – sociological factors
L – legal factors
E – ethical factors
Relationships among the STEEPLE factors
the STEEPLE factors are interrelated and compsed.
one can be more relvenat to an organisation
2.1 Performing a STEEPLE analysis
steps
1-identify the macro environment(s) of interest
2-scan the macro environment to detect ongoing and emerging change
3- monitor specific environmental trends and patterns to attempt to predict their evolution
4-forecast the future direction of environmental changes
5-assess current and future environmental changes for their strategic and organisational implications.
A note on using reports
approach critically.
Is the information relevant?
Is the information sufficient?
Is the information recent?
Is the information correct?
2.2 Reflecting on the STEEPLE factors
some factors trigger and influence other factors
factors are combined in a dynamic way and they all together shape the macro environment.
challenges of applying the STEEPLE framework?
visualising links among factors
factors more salient identification
showing macro environment dynamics
3 The VUCA framework
definition
purposes
3.1 Volatility
definition
How can organisations respond to this challenge?
agility
3.2 Uncertainty
definition
How can organisations respond to this challenge?
information
3.3 Complexity
definition
Complexity does not necessarily involve change over time:
How can organisations respond to this challenge?
Restructuring
3.4 Ambiguity
definition
How can organisations respond to this challenge?
Experimentation
benefits
3.5 Responding to the VUCA challenges
Table 6.1: The VUCA challenges and possible responses to them
3.6 VUCA challenges and possible responses for car makers
Challenges in applying the VUCA framework
manageable number of challenges
not csalient in all environement
assume each challenge requires a response.
