Lecture 4a External Analysis: Response - Lateral Thinking

Application of the External Analysis to real situation

After STEPG and 5 forces - how do we respond:

Define , Recognise , Analyze , Respond

Response:
- political lobbying : direct influence
- strategic fit : what we might be able to do
- technology response
- organizational flexibility: relocation , processes revamping, effectiveness efficiency.
- information management

Now we need to pull together the external and internal analysis
create customer need : marketing advertising ..

Can we change peoples ideas , tastes , processes?
Listen to customers - statistics and market research

internal/ external - A good manager should balance both the external analysis with good competitive intelligence .