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Fundamentals of Management wk 3– External analysis and Organisation’s Vision/Mission. Richard Selby. Can be summarised as: The external environment Includes the stakeholders (which we discussed briefly last week) + more! The internal environment Coming later…!.

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fundamentals of management wk 3 external analysis and organisation s vision mission

Fundamentals of Managementwk 3– External analysis and Organisation’s Vision/Mission

Richard Selby

what effects an organisation
Can be summarised as:

The external environment

Includes the stakeholders (which we discussed briefly last week) + more!

The internal environment

Coming later…!

What effects an Organisation?
external environment1
The stakeholders

The government

Money

Laws

Competition

Changes in lifestyle

Changes in population

Technology

Etc, etc, etc, etc ….

External environment

Everything which influences the organisation

from the outside, such as:

what to include
A checklist:

Sociological considerations

Technological considerations

Economic considerations

Political considerations

What to include?
what to include1
A checklist:

Sociological considerations

Technological considerations

Economic considerations

Political considerations

What to include?

Often called STEP analysis because

what to include2
A checklist:

Sociological considerations

Technological considerations

Economic considerations

Political considerations

What to include?

Often called STEP analysis because

of the initial letters

what to include3
A checklist:

Political considerations

Economic considerations

Sociological considerations

Technological considerations

What to include?

Or sometimes PEST analysis for the

same reason

sociological socio cultural
Changes in lifestyles

Demographics

Education

Health

Income

Work vs leisure

Environmental issues

Sociological“Socio-cultural”
technological
New products/expectations

(incl. quality)

Speed of change

Competition

Investment policies

(incl. Local, Regional, National, International)

Legal/regulatory issues

Technological
economic
Interest rates

Exchange rates

Investment

from all sources

Consumer disposable income

Tax policies

Incentives

Economic
political
Government policies

Government stability

State-owned vs privately owned

Legal and regulatory issues

Political
sometimes two more headings are added to the checklist
STEP +

Environmental issues, and

Legal issues

However, I have included these in my STEP

Sometimes two more headings are added to the checklist:
vision and mission1
A Vision statement is a declaration of where you would like to be

A Mission statement expresses the purpose of the organisation

Vision and Mission
vision and mission2
A Vision statement is a declaration of where you would like to be

A Mission statement expresses the purpose of the organisation

The two are complimentary – the Mission is

how you get to the Vision

Vision and Mission
an example of a vision statement
“The Telecommunications Department will be a leader in enabling Texas Tech University to exchange thoughts and ideas through technology. Communications will empower students, faculty, and staff to reduce distance through collaboration”.An example of a Vision statement

Source: Texas Tech University, Office of the CIO, Box 42008, Lubbock, TX 79409

http://www.depts.ttu.edu/infotech/strat/telecom.pdf

an example of a mission statement
“The Telecommunications department provides reliable, modern, and integrated communications services to enable teaching, learning, research, and outreach”.An example of a Mission statement

Source: Texas Tech University, Office of the CIO, Box 42008, Lubbock, TX 79409

http://www.depts.ttu.edu/infotech/strat/telecom.pdf

walk the talk
However the Vision and Mission statement

is written, it has to be adopted by everyone

at every level …..

…..beginning with top management!

“Walk the talk”
slide22
Thanks for your attention!

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