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Additional info for Business Environment : Management Extra (Management Extra S.) (Management Extra S.)
They represent what it can do and what it cannot do. An organisation using natural resources, for example, will need to have a steady stream of new sources so that as old sources dry up, new ones come on line. It also has to make sure that its resources and the way it uses them are as efficient as its competitors. Witness the demise of the UK coal industry or the decline of the horse and carriage. Hence, research and development (R&D) and information technology (IT) are important to enable the organisation to keep ahead.
You will review the competitive forces in your industry and look beyond your own organisation to see how other key players in the industry operate. Within this theme you will: ♦ Carry out a stakeholder analysis for your organisation ♦ Assess how the marketplace works in terms of price, supply and demand ♦ Identify the purpose and nature of market research used by your organisation and how it aids decision making ♦ Apply the Ansoff matrix to identify possible opportunities in the market ♦ Analyse the competitive nature of your industry and carry out a Five Force analysis ♦ Consider benchmarking as an industry analysis tool.
Source: Singh (1999) Why are culture and structure relevant to managers? There are certain types of organisational cultures and structures, and internal and external environmental factors influence which ones are adopted or develop. How do you fit into your organisational culture as a manager? For example, if you are in a power culture/structure, are you taking enough risks to try to improve your position? Why not break the budget rather than religiously following it? If you are in a task culture, are you happy with teamworking?