Required Textbook: Bateman, Thomas, Snell, Scott and Konopaske, Robert (2019).MANAGEMENT: Leading & Collaborating in a Competitive World, 13^th ed. New York: McGraw-Hill ISBN: 978125992764

Chapter 4 Planning and Strategic Management.

Pages 127-128

2) List the six steps in the formal planning process.

Suppose you manage a local business and you want to launch a new website. What activities would you carry out during each step to create this site? .

4) How do strategic, operational, and tactical planning differ? How might the three levels complement one another in an organization?

7) Review Exhibit 4.6, which lists the components of an environmental analysis. Why is this so vitally important to a company's strategic planning process? (Attachment)

Industry and Market Analysis Industry profile: major product lines and significant market segments in the industry. Industry growth: growth rates for the entire industry, growth rates for key market segments, projected changes in patterns of growth, and the determinants of growth. Industry forces: threat of new industry entrants, threat of substitutes, economic power of buyers, economic power of suppliers, and internal industry rivalry (recall Chapter 2). Competitor Analysis Competitor profile: major competitors and their market shares. Competitor analysis: goals, strategies, strengths, and weaknesses of each major competitor. Competitor advantages: the degree to which industry competitors have differentiated their products or services or achieved cost leadership. Political and Regulatory Analysis Legislation and regulatory activities and their effects on the industry. Political activity: the level of political activity that organizations and associations within the industry undertake (see Chapter 5). Social Analysis Social issues: current and potential social issues and their effects on the industry. Social interest groups: consumer, environmental, and similar activist groups that attempt to influence the industry (see Chapters 5 and 6). Human Resources Analysis Labor issues: key labor needs, shortages, opportunities, and problems confronting the industry (see Chapters 10 and 11). Macroeconomic Analysis Macroeconomic conditions: economic factors that affect supply, demand, growth, competition, and profitability within the industry. Technological Analysis Technological factors: scientific or technical methods that affect the industry, particularly recent and potential innovations (see Chapter 17)