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External analysis can be used for: 7 inizia ad imparare
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Assessing performance of competitors or customers. | Gap analysis. | Understand stakeholders expectation. | Targets review. | Identification CSFs. | Budgetary management. | Benchmarking. AGUTI-BB
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Tools for external analysis 2 inizia ad imparare
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PEST. | Porter's Five forces.
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Political influences and events. | Economic influences. | Social influences. | Technological influences.
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PEST can be used for strategic analysis and to... 3 inizia ad imparare
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identify CFSs, | KPIs | and target setting. such as: Identification and exploration of opportunities in the external environment. | Identification and monitoring of CSFs and KPIs. | Identification and monitoring and risk and uncertainty so that necessary action can be taken.
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Porter's 5 forces analysis elements: inizia ad imparare
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Substitute products threat | Suppliers’ bargaining power | Buyers’ bargaining power | Industry competition | New entrants threat SS-BIN Types of suppliers: banks (financial capital), staff (labour). | It is important to measure and monitor the forces using suitable performance indicators.
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Stakeholders are anyone affected by the organisation an its activities. The mission and objectives of an organisation need to be developed with the needs of the stakeholders in mind. Performance measures should be aligned with... inizia ad imparare
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Mendelow’s stakeholder mapping matrix features inizia ad imparare
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Mendelow’s stakeholder mapping matrix graphics available Classifies stakeholders according to their level of power and interest in the organisation | It is use to determine company’s action regarding each group | Company focus of key players, then those to keep satisfied to ensure they do not become key players
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set of moral principles | that guide behaviour based on what is 'felt to be right'
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Ethical behaviour reduces risk and the organisation is likely to be favoured by... inizia ad imparare
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existing and potential customers, employees, business partners and investors.
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First of all, CSR refers to...? Corporate Social Responsibility inizia ad imparare
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refers to organisations considering and managing their IMPACT on all stakeholders, not just their shareholders. International private business self-regulation.
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Customer goodwill. | Employees happier. | Reputation. | Less chance of legislation being passed. CERL
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Government policy is a key ingredient in the political environment facing enterprises: # inizia ad imparare
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Worker and consumer protection. | Interest rates. | Taxation levels. | Exchanges rates. | Public expenditure levels. | Environment protection. | Restrictive provisions. | Incentive schemes. WITE PERI incentive scheme - motywacyjny system płac | restrictive provisions - restrictive provisions
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The impact of political climate on Monetary policy. The government adjust the...: # inizia ad imparare
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money supply, | interest rates, | exchange rates | credit availability. MIEC
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The impact of political climate on Fiscal policy. The government adjust: # inizia ad imparare
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taxation, | public spending | and public borrowing. 3
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Macroeconomic policy definition: inizia ad imparare
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the management of the economy by the government.
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The aims of macroeconomic policy are: # inizia ad imparare
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Distribution of income and wealth. | Employment for all. | Economic growth. | Price stability. DEEP
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Macroeconomic policy influences level of aggregate demand using: 2 inizia ad imparare
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Monetary policy. | Fiscal policy.
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Supply-side policies characteristic: 3 inizia ad imparare
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Views the supply of cost-effective and adequate materials, services and labour as the vital to the economy. | Largely anti-government interference. | The view that regulation prevent the efficient working of the economy.
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Green policies / externalities definition. inizia ad imparare
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A negative externality is the cost of production experienced by society but not by produces or consumers themselves. Growing area of government intervention.
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Examples of green policies / externalities. 3 inizia ad imparare
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Carbon taxes. | Emission targets. | Penalties.
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the variability of possible returns. There are number of possible outcomes and the probability of each outcome is known. All business face risk/uncertainty. Risk management is the process of understanding and managing the risk that an organisation is inevitably subject to.
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Uncertainty also means there are a number of possible outcomes, however... inizia ad imparare
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the probability of each outcome is unknown.
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Exogenous variables are... inizia ad imparare
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variables that do not originate from within the organisation itself and are not controllable by management. For example: government policy or social factors. exogenous - zewnętrzny
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Scenario planning looks at the number of... inizia ad imparare
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different but plausible future situations.
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Dealing with risk and uncertainty techniques. 4 inizia ad imparare
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Sensitivity analysis. | Computer simulations. | Expected values. | Maximin-Maximax-Minimax regret. SCEM
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Computer simulations definition: inizia ad imparare
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A modelling technique which show the effect of MORE THAN ONE variable changing at the time and gives management a view of the likely range of outcomes.
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Sensitivity analysis definition: inizia ad imparare
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Takes each uncertain factor IN TURN, and calculates the change that would be necessary in that factor before the original decision is reversed.
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selecting the alternative that maximises the minimum pay-off achievable. Useful for risk averse (pessimistic) decision makers but can be viewed as overly pessimistic.
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selecting the alternative that maximises the maximum pay-off achievable. Useful for risk seekers (optimistic) but can be viewed as overly optimistic.
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the strategy that minimises the maximum regret.
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the weighted average of all possible outcomes.
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Expected values are useful for... 2 inizia ad imparare
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a risk-neutral decision maker or when there are many similar repeating transactions.
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Expected values are NOT useful for... 3 inizia ad imparare
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One-off decisions | or if Probabilities are uncertain or unknown. | or for Non-risk neutral decision maker. OPN
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Impact of risk appetite of stakeholders on performance management. inizia ad imparare
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generally be risk seeking.
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Employees and managers may be risk-...? 2 Impact of risk appetite of stakeholders on performance management. inizia ad imparare
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risk averse or risk seeking. If, say, job security is important. | If, say, there is a promise of a hefty bonus.
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Impact of risk appetite of stakeholders on performance management. inizia ad imparare
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rational investors who want maximum return for minimal risk but they will be prepared for some investments to fail.
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Impact of risk appetite of stakeholders on performance management. inizia ad imparare
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generally risk averse and will want security over their funds.
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