考文垂大学商科课程企业财务战略第三讲ppt课件.ppt

M15EFACFS LECTURE3TheMacroEnvironment LEARNINGOUTCOMES Bytheendofthislecturestudentsshouldbeableto ExplainthePESTELframeworkAssessPESTELasananalyticaltoolanddiscusshowitcouldbeusedstrategicallyinunderstandingtheimpactithasonthemacroandcompetitiveenvironmentofafirm Criticallyevaluatetheconceptofstakeholderanalysisanditsimpactondecisionmaking The strategicenvironment ofacompanyiscrucialindeterminingitsultimatesurvivalandsuccess Grundy 1998 p30 How Analyseandunderstandtheenvironmentinwhichitoperates 1 Macroenvironment External2 Competitiveenvironment External3 Internalenvironmentofthefirmitself Assessthenatureofthe macro environmentIsit Simple stable emphasismaybeonmaintaining improvingexistingstrategyWhy FutureismorepredictableComplex turbulent emphasismaybeontryingtodetectchangeasearlyaspossibleWhy Futureismoreuncertain Existingandprobablefuturesituationcanbeanalysed Proactivechangescanbemadetokeeporganisationaheadof inlinewithenvironment AuditEnvironmentalInfluences UseaPEST EL Analysis 1 Identify considerimpactonorganisationofPolitical Economic Socio culturalandTechnologicalaspects EnvironmentalandLegalaspects 2 Lookforinterrelationshipsbetweenthesethatcouldreinforcetheireffect So considerinteractionsbetweendifferentfeaturesoftotalenvironment Macroenvironment PESTEL JSW 2005 PG68 Exhibit2 2 Ask Whatenvironmentalfactorsareaffectingorganisationnow Whichofthesearethemostimportantatpresent Inthenextfewyears Political legalEnvironmentalprotectionlawsTaxationpolicyForeigntraderegulationsEmploymentlawGovernmentstability EconomicfactorsBusinesscyclesInterestratesInflationUnemploymentDisposableincomeEnergyavailabilityandcost TechnologicalGovernmentspendingonresearchGovernmentandindustryfocusontechnologicaleffortNewdiscoveries developmentSpeedoftechnologyRatesofobsolescence SocioculturalfactorsPopulationdemographicsIncomedistributionSocialmobilityLifestylechangesAttitudestoworkandleisureLevelsofeducation WhyusePESTEL Sortsand pigeonholes environmentalinformationHelpsidentifyforcesthataredrivingstructuralchange LimitationsofPESTEL ToomuchinformationOpentointerpretationBasedonpastdataCanbecomedescriptiveandsubjective forcesneedtobackupwithevidence StakeholderAnalysis therearegroupsandindividualswhocanaffect orareaffectedby theachievementofanorganisation smission Freeman 1984 Businessesneedtotakeintoaccountthesemultiplestakeholders theymaybepotentialsourcesofOpportunitiesandThreats FIRM Political Owners FinancialCommunity PressureGroups Customers Consumergroups Unions Employees TradeAss Competitors Suppliers Govt Stakeholdermapping 3levelsof Stake EquityMarketInfluencers3levelsof Power Formal voting EconomicPolitical StakeholderGrid Power Stake StakeholderGrid Example Power Stake StakeholderMapping thePower InterestMatrix JSWExhibit4 5 Source AdaptedfromA Mendelow ProceedingsoftheSecondInternationalConferenceonInformationSystems Cambridge MA 1991 UseofStakeholderMapping Whoarekeyblockersandfacilitatorsofastrategy Isrepositioningofstakeholdersdesirable feasible Whicharethekeystakeholderswhoseinterestandpowermustbemaintainedtosupportthestrategy SourcesofPower IndicatorsofPower Stakeholdersandpolicy Whoarethemaininfluencingstakeholders Aretheyapotentialthreat orapossiblesourceofopportunity Firmsdevelopstrategiesinresponsetostakeholdermapping StakeholderAnalysis Comments Another pigeonholing methodCanbedescriptiveandsubjectiveSomearguethatthereisonlyonestakeholder thefirm sshareholdersDoesprovideamorereactiveanalysisthanPESTEL Analysingthemacroenvironment MethodshelpfirmstoorderandsortacomplexanduncertainenvironmentProvideameansofidentifyingdriversofchange PESTEL andmaininfluencers Stakeholder Underlyingpurposeistoi