Module 6:
Question 1: Draw a chart of your organizations domain. List the organization’s products and customers and the forces in the specific and general environments that have an effect on it. Which are the most important forces that the organization has to deal with?
Part A: Draw a chart of your organizations domain.
CVS Pharmacy
Specific Environment
General Environment
An organizations domain is the goods and services, and customers of the organization. Every organizational domain consists of a specific and general environment. In CVS Pharmacy’s specific environment are its suppliers and customers. In CVS Pharmacy’s general environment are governmental regulations, advancements in technology,
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Part A: Analyze the effect of the forces on the complexity, dynamism, and richness of the environment.
Environmental complexity is a function of strength, number, and interconnectedness of specific and general forces. CVS has many stakeholders including employees, non-governmental organizations, suppliers, clients, investors, shareholders, analysts, consumers, local communities, civic organizations, trade organizations, government and regulatory authorities, and the media. With all these stakeholders within the organizations specific and general environment makes communication and collaboration very difficult. There are a lot of voices to be heard and getting everyone interconnected and on the same page is not an easy task. CVS would fall under a complex environment. Environmental dynamism is a function of speed of change and how much change is occurring between specific and general forces. CVS is constantly changing and growing in today’s world. CVS knows they need to stay innovative and keep up with new technologies in order to stay the nation’s premier integrated pharmacy services provider. One example of CSV growing and changing is adding a new feature to their mobile app. CVS adder a new drug interaction checker as part of its top-rated CVS Mobile app. This is an industry first. This feature allows customers to quickly and easily check for potential drug interactions by
Any change in the factors that make up the macro-environment can have a direct impact on the Comcast Corporation. These factors can affect the Porter Five Forces that shape their strategy and their competitive advantage over other firms.
1. In relation to your current business environment (or one that you are familiar with):
3. What does your strategic group map of this industry look like? How attractively is Netflix positioned on the map? Why?
3. What environmental forces have created challenges for Mattel as it continues expansion into global markets? Which markets have created opportunities?
The task instruction is: Analyze Company G’s competitive environment utilizing Porter’s Five Forces Model of competitive forces. While headings below may provide some guidance for how to organize the paper, please refer to the recommended text (index topic: “Porter’s 5 forces model”), the learning community, and recommended web sites. As you will see from the reading, Porter’s 5-forces is a way to examine threats to a company’s success – which was competition imposes.
Compare and contrast an existing organization’s three major functions (i.e., finance, marketing, and operations), and then justify the interdependence that operations have to finance and marketing. Provide examples to support your rationale.
1. Review the definition of management at the beginning of the chapter and briefly define each of the 4 functions. What are the challenges in carrying out these functions in today’s hyper-competitive marketplace?
Which of these forces and factors are the most important to the corporation and to the industries in which it competes at the present time? Which will be important in the future?
Discuss the six images of managing change and how each can effect an organization. These points will come from Chapter 2 of the textbook, p.27-33.
Identify and describe the most important components in the specific and general environment - be specific in your description of how these factors will impact the company’s performance. Use appendices for supporting data.
3. What major problems might you encounter with your new sales force structure as it relates to both external factors (customers) and internal factors (employee reactions)?
The competitive environment of a business is the part of a company's external environment that consists of other firms trying to win customers in the same market. It is the segment of the industry that includes all immediate rivals. These are factors that are out of the company’s control, such as when state regulations change and they have to adjust to meet those requirements. To ensure Macy’s Inc. understands the environment they will conduct an external environmental analysis. This would include identifying any opportunities and threats to the firm (Hitt, Ireland, Hoskisson, 2013). One of the opportunities that Macy’s could
6. What are the 5 dimensions of the business environment? Discuss the key elements in each area as they relate to U.S.-based businesses.
a. What process elements do you believe are critical to ensure your organization understands the target market and its needs today and remains knowledgeable and informed about trends as your business grows and technology and market forces change the market? Are there specific tools (e.g. CRM, big data tools) that should be part of your firm’s toolkit? If so, explain what value they bring, how they fit into your process, and way they are worth the investment of time, money, and mind share during the critical startup phase.
1. The most significant challenge to business success you see in this rapidly changing global economy;