The document discusses the components of a company's general environment that influence strategic management. It identifies political, economic, socio-cultural, technological, legal, and environmental factors. It also provides examples of specific political factors like government stability, bureaucracy, and import restrictions that strategists should consider. The key questions posed encourage analyzing how these general environment factors impact industries and how companies might respond strategically.
The document discusses the components of a company's general environment that influence strategic management. It identifies political, economic, socio-cultural, technological, legal, and environmental factors. It also provides examples of specific political factors like government stability, bureaucracy, and import restrictions that strategists should consider. The key questions posed encourage analyzing how these general environment factors impact industries and how companies might respond strategically.
The document discusses the components of a company's general environment that influence strategic management. It identifies political, economic, socio-cultural, technological, legal, and environmental factors. It also provides examples of specific political factors like government stability, bureaucracy, and import restrictions that strategists should consider. The key questions posed encourage analyzing how these general environment factors impact industries and how companies might respond strategically.
1. What are the key political factors influencing the industry?
2. Which are the significant economic factors for the industry? 3. Which social and cultural aspects are most likely to impact the industry? 4. What technological innovations or changes are likely and how will they impact the current structure? 5. What current or impending legislation – both domestic or international may affect the industry? 6. Which environmental considerations are most important for the industry?