What is the systematic examination of a firm’s internal and external situation that informs managerial decision-making?Business planningMission and vision formationScope of environment assessmentStrategic analysis

Which of these are NOT possible sources for external environment scanning?Employee feedback, customer feedback, customer insight researchIndustry experts industry and government reportsSocial media and magazinesPersonal or management intuition

1. What is the external environment? Explain its two components. Whyis analysing the external environment important when a managermakes a decision?2. In general, the greater the environmental uncertainty, the moreattention management in organisations must direct towards theexternal environment. What is environmental uncertainty? Explainthe two dimensions of environmental uncertainty and how theydetermine environmental uncertainty.3. Choose an organisation to analyse and discuss in terms of itsorganisational culture. What are the observable elements in theculture of your chosen organisation? Using the competing valuesframework, what kind of culture do you think this organisation has?4. One of your co-workers brought along his friend to lunch. Whendiscussing his new female boss, the friend says, “Yeah, she got thejob just because she’s an ethnic woman. There’s no way that someonelike me had a chance given her pedigree. And she now has the nerveto act like we’re all one big happy team and the rest of us shouldaccept her leadership. I’m doing my best to make it hard for her tosucceed”. It was uncomfortable for you just to hear this. Your co-worker looks dismayed but isn’t saying anything. What do you do orsay? Will you just let the comment go, or do something more?

Why is it important for managers in companies to have a good understanding which external developments (sustainable change driver & market determinants) could have significant impact on the business (Outside-In-View)?

Managers learning about the conditions their business will operate in is part of __________.a.)strategic reflectionb.)strategic analysisc.)spyingd.)developing action plans

What is strategy?Multiple choice question.a sustainable and dominant market sharea decision based on external situational analysisa decision based on internal situational analysisthe set of actions a firm takes to achieve a competitive advantage