By Elearn (Auth.)
Business setting appears on the significant components that impression an organisation's process. It equips newbies with a portfolio of instruments together with PESTLE, portfolio research, strength audits, SWOT and stakeholder research to examine the interior and exterior setting in which their employer operates and demanding situations them to increase their realizing in their organisation's strategic direction.
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This allows them to diversify their product range and sell them new services and products, such as financial services. For example, the UK supermarket Tesco is now moving into selling car insurance. Other organisations may have resources to which they cannot add value, so they may sell them or outsource to people who can utilise those resources more efficiently. 2 The organisational landscape Source: The Times (2000) In this case study notice how Boots aims to use its resources to best advantage.
However, if you do update your range, people may not like it. British Airways famously changed its aircrafts' distinctive, sober livery and brought in multicoloured, abstract designs for the aircrafts' tail fins. No one seemed to like this, and the decision was reversed. Managers have to be aware of what makes their products sell and be constantly alert to changes in the perceptions and expectations of their customers. That is why product analysis is so useful. See the section on Portfolio analysis.
P. Norton (1996), The Balanced Scorecard: Translating Strategy into Action, Harvard Business School Press. Full references are provided at the end of the book. Business Environment Organisations cannot exist without people - people inside and outside the organisation who are all linked by its activities. This theme widens the perspective to look at the players in the organisation, the marketplace and the industry sector. The first of these players are the stakeholders. This is a broad term that typically encompasses any individual (or group) who affect or are affected by the performance of an organisation.