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Strategic Management in Action Assessing Opportunities and Threats: Doing an External Analysis © Prentice Hall, 2002 End Show 3 - 1 Learning Objectives 1. Differentiate between external environmental opportunities and threats. 2. Describe how organizations are open systems. 3. Distinguish between the environment as information perspective and the environment as source of resources perspective. 4. Describe the components in an organization’s specific environment. 5. Explain each of the forces in Porter’s five forces model. (continued on next slide) © Prentice Hall, 2002 End Show 3 - 2 Learning Objectives 6. Describe the components in an organization’s general environment. 7. Discuss what types of information on the external environment a strategic manager needs and where he or she might find this information. 8. Describe the types of external information different managerial levels might need. 9. Explain the benefits and challenges of doing an external analysis. © Prentice Hall, 2002 End Show 3 - 3 WHAT IS AN EXTERNAL ANALYSIS? External Analysis Scan and evaluate various external environmental sectors impacting performance • Opportunities Positive external environmental trends that improve the organization’s performance • Threats Negative external environmental trends that hinder the organizations performance © Prentice Hall, 2002 End Show 3 - 4 Organizations as Open Systems Open
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