BU111 Study Guide - Midterm Guide: Market Impact, Pearson Education, Corporate Social Responsibility
19
BU111 Full Course Notes
Verified Note
19 documents
Document Summary
Exam format: 25 mc, 11 short answers (2-6 marks each), 80 total. Relationship between the firm and its external environment. Capital: how much do we invest in building, land, equipment. How does strategy influence organization: sometimes you need to restructure organization in order to pursue an internal market (strategy, improve on certain capabilities. External analysis (what it is, how to conduct one, general vs. specific environments, benefits and challenges of conducting one) What it is: process of scanning and evaluating the external environment, how managers determine opportunities (positive external trends/changes) and threats (negative external trends/changes, firms face multiple environments: general (affects all businesses) and specific (affects industry participants) Pest model: identi es general trends and changes: factors are general, same for all companies, e. g. interest rates in canada are interest rates for all companies, demographics/ what we"re like as a society, same across canada. Pest factors (elements, impact on business, questions to answer from pest analysis)
