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Strategic Planning - Enviromental analysis | MGT 321

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University of Nevada, Reno

   

Strategic Planning (MGT 321)

   

Added on  2020-03-13

About This Document

MGT 321 - The document is based on Strategic Planning -  Environmental Analysis. we discuss some solutions in the assignment,  the major issues, and trends affecting the future, and tell the description of the trend, issue, and the evidence to support the analysis.

Also check: PART 2: Industry analysis AND PART 3: Resources and Capabilities Gap Analysis

Strategic Planning - Enviromental analysis | MGT 321

   

University of Nevada, Reno

   

Strategic Planning (MGT 321)

   Added on 2020-03-13

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Strategic Planning Worksheet #1Environmental Analysis What are the major issues and trends affecting the future?We start our strategic and business planning by analysing the macro-environment. The external general environment includes all those factors outside the organisation that impacts its strategy and strategic goals. Complete the table below by outlining the key external environmental elements. Refer to Week 2 learning resources for more information on the composition and useof the macro-environment model. ElementDescription of thetrend, issue orchangeTheimpactwill be:Low,mediumor high?Positiveornegative?Evidence to support this analysisSocial(any new trends, issues or attitudes forming? whatis becoming more acceptable to stakeholders, what is becoming lessacceptable) Change in attitude of population towards traditional boat businessIn the marine business nowadays people are shifting from traditional boat products to technical recreated modelsGrowth in other substitutes of marine industryOther substitutes such as motorbikes, yachts etc. are highly prevailing in the market NegativeNegativeDespite of having specialized cruisersfor the customers, they areshifting for traditional products to more modernized products.Due to introduction of substitutes MGT300_Assessment1_Worksheet1Last updated on 12-Mar-20Study Group Australia Pty Limited trading as Martin College, Martin Higher EducationPage 1 of 6
Strategic Planning - Enviromental analysis | MGT 321_1
ElementDescription of thetrend, issue orchangeTheimpactwill be:Low,mediumor high?Positiveornegative?Evidence to support this analysisportfoliohas Tudor has decreased (Rajendar Singh, 2010).Technology(any major or minor changes to equipment or processes? What improvementsor innovationshave competitors adopted?)Advancement in technical tools of boat manufacturing products.Introduction in efficient technology in the market has reduced the sale of Tudor boatsFurious drift in technologyDue to violent change in technology made it difficult for the companyto adapt changes easilyNegativeNegativeIt became difficult for Tudor drastically adapt the modern technology.Due to furious drift the company lacked in competition (Luković, & Božić, 2011).Economic(Which indicators maybe moving exchange rates, Shrink in market size of the productCustomers changed their preferences dueto which NegativeThe customer base decreased as their preference changed.MGT300_Assessment1_Worksheet1Last updated on 12-Mar-20Study Group Australia Pty Limited trading as Martin College, Martin Higher EducationPage 2 of 6
Strategic Planning - Enviromental analysis | MGT 321_2
ElementDescription of thetrend, issue orchangeTheimpactwill be:Low,mediumor high?Positiveornegative?Evidence to support this analysisdisposable income, interest rates, GDP or another?demand declined.Entrance of wealthy customers in the marketDue to cruiser being premium product, the customers with high budget started entering in the market.High depreciation on second hand selling.Tudor product being sold in thesecond hand market has low returns.PositiveNegativeCustomers with high income in hand stared entering in the market due to theirinterest in traditional boats.The company liquidated as the second hand prices of the boat are real low (Agnihotri, 2013).Environmental(any green and clean environmentalissues or regulations) Growing industry’s approach towards environmental friendly manufacturing products.The industry has started shifting towards the products having environmental friendly specifications.ModerateThe company started using raw material which is eco-friendly but incurred huge cost.MGT300_Assessment1_Worksheet1Last updated on 12-Mar-20Study Group Australia Pty Limited trading as Martin College, Martin Higher EducationPage 3 of 6
Strategic Planning - Enviromental analysis | MGT 321_3

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