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Context Analysis
Context analysis is a method to analyze the environment in which a business operates. Environmental scanning mainly focuses on the macro environment of a business. But context analysis considers the entire environment of a business, its internal and external environment. This is an important aspect of business planning. One kind of context analysis, called SWOT analysis, allows the business to gain an insight into their strengths and weaknesses and also the opportunities and threats posed by the market within which they operate. The main goal of a context analysis, SWOT or otherwise, is to analyze the environment in order to develop a strategic plan of action for the business. Context analysis also refers to a method of sociological analysis associated with Scheflen (1963) which believes that 'a given act, be it a glance at notherperson, a shift in posture, or a remark about the weather, has no intrinsic meaning. Such acts can only be understood when taken in relation to one another. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Environmental Scanning
Market environment and business environment are marketing terms that refer to factors and forces that affect a firm's ability to build and maintain successful customer relationships. The business environment has been defined as "the totality of physical and social factors that are taken directly into consideration in the decision-making behaviour of individuals in the organisation." The three levels of the environment are as follows: #Internal environment – the internal elements of the organisation used to create, communicate and deliver market offerings. #External micro environment – Local forces that affect its ability to serve its customers. #External macro environment – larger societal forces that affect the survival of the organisation, including the demographic environment, the political environment, the cultural environment, the natural environment, the technological environment and the economic environment. The analysis of the macro marketing environment is to bette ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Opportunities And Threats
Opportunity may refer to: Places * Opportunity, Montana, an unincorporated community, United States * Opportunity, Nebraska, an unincorporated community, United States * Opportunity, Washington, a former census-designated place, United States * 39382 Opportunity, an asteroid Arts, entertainment, and media Music * "Opportunity" (Pete Murray song), 2006 * "Opportunity", a song by The Charlatans * "Opportunity", a song from ''Annie'' * "Opportunities (Let's Make Lots of Money)", a song by Pet Shop Boys Other uses in arts, entertainment, and media * ''Opportunity'' (film), a 1918 film * '' Opportunity: A Journal of Negro Life'', a literary periodical of the Harlem Renaissance * ''The Opportunity'', a 17th-century play Finance * Opportunity International, a microfinance network that lends to the working poor * Opportunity NYC, a 2007–2012 experimental conditional cash transfer program in New York City Other uses * ''Opportunity'' (rover), a robotic rover on Mars * Business opp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competition (economics)
In economics, competition is a scenario where different Economic agent, economic firmsThis article follows the general economic convention of referring to all actors as firms; examples in include individuals and brands or divisions within the same (legal) firm. are in contention to obtain goods that are limited by varying the elements of the Marketing mix for product software, marketing mix: price, product, promotion and place. In classical economic thought, competition causes commercial firms to develop new products, services and technologies, which would give consumers greater selection and better products. The greater the selection of a good is in the market, prices are typically lower for the products, compared to what the price would be if there was no competition (monopoly) or little competition (oligopoly). The level of competition that exists within the market is dependent on a variety of factors both on the firm/ seller side; the number of firms, barriers to entry, infor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gap Analysis
In management literature, gap analysis involves the comparison of actual performance with potential or desired performance. If an organization does not make the best use of current resources, or forgoes investment in capital or technology, it may produce or perform below an idealized potential. This concept is similar to an economy's production being below the production possibilities frontier. Gap analysis identifies gaps between the optimized allocation and integration of the inputs (resources), and the current allocation-level. This reveals areas that can be improved. Gap analysis involves determining, documenting and improving the difference between business requirements and current capabilities. Gap analysis naturally flows from benchmarking and from other assessments. Once the general expectation of performance in an industry is understood, it is possible to compare that expectation with the company's current level of performance. This comparison becomes the gap analysis. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PESTLE Analysis
In business analysis, PEST analysis ("political, economic, socio-cultural and technological") describes a framework of macro-environmental factors used in the environmental scanning component of strategic management. It is part of an external environment analysis when conducting a strategic analysis or doing market research, and gives an overview of the different macro-environmental factors to be taken into consideration. It is a strategic tool for understanding market growth or decline, business position, potential and direction for operations. PEST analysis was developed in 1967 by Aguilar as an environmental scanning framework. Aguilar argued that firms must scan the economic, technical, political and social categories (ETPS) that may affect strategy, defining environmental scanning as follows, “scanning for information about events and relationships in a company’s outside environment, the knowledge of which would assist top management in its task of charting the company†... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Research
Market research is an organized effort to gather information about target markets and customers: know about them, starting with who they are. It is an important component of business strategy and a major factor in maintaining competitiveness. Market research helps to identify and analyze the needs of the market, the market size and the competition. Its techniques encompass both qualitative techniques such as focus groups, in-depth interviews, and ethnography, as well as quantitative techniques such as customer surveys, and analysis of secondary data. It includes social and opinion research, and is the systematic gathering and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making. Market research, marketing research, and marketing are a sequence of business activities; sometimes these are handled informally. The field of ''marketing researc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Segmenting And Positioning
In marketing, segmenting, targeting and positioning (STP) is a broad framework that summarizes and simplifies the process of market segmentation.Moutinho, L., "Segmentation, Targeting, Positioning and Strategic Marketing," Chapter 5 in Strategic Management in Tourism, Moutinho, L. (ed), CAB International, 2000, pp. 121–166 Market segmentation is a process, in which groups of buyers within a market are divided and profiled according to a range of variables, which determine the market characteristics and tendencies. The processes of segmentation, targeting and positioning are parts of a chronological order for market segmentation. * Segmentation comprises identifying the market to be segmented; identification, selection, and application of bases to be used in that segmentation; and development of profiles. * Targeting is the process of identifying the most attractive segments from the segmentation stage, usually the ones most profitable for the business. * Positioning is the final ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Organization Design
Organizational architecture has two very different meanings. In one sense it literally refers to the organization's built environment and in another sense it refers to architecture metaphorically, as a structure which fleshes out the organizations. The various features of a business's organizational architecture has to be internally consistent in strategy, architecture and competitive environment. * Organizational architecture or organizational space: the influence of the spatial environment on humans in and around organizations. * Organizational architecture or organization design: the creation of roles, processes, and formal reporting relationships in an organization. Organizational space describes the influence of the spatial environment on the health, the mind, and the behavior of humans in and around organizations. It is an area of research in which interdisciplinarity is a central perspective. It draws from management, organization and architecture added with knowledge fr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategic Plan
Strategic planning is an organization's business process, process of defining its strategy or direction, and making decision making, decisions on allocating its resources to attain strategic goals. It may also extend to control mechanisms for guiding the implementation of the strategy. Strategic planning became prominent in corporations during the 1960s and remains an important aspect of strategic management. It is executed by strategic planners or strategists, who involve many parties and research sources in their analysis of the organization and its relationship to the environment in which it competes. ''Strategy'' has many definitions, but it generally involves setting strategic goals, determining actions to achieve the goals, setting a timeline, and mobilizing resources to execute the actions. A strategy describes how the ends (goals) will be achieved by the means (resources) in a given span of time. Often, Strategic Planning is long term and organizational action steps are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Organization Analysis
An organization or organisation (Commonwealth English; see spelling differences), is an entity—such as a company, an institution, or an association—comprising one or more people and having a particular purpose. The word is derived from the Greek word ''organon'', which means tool or instrument, musical instrument, and organ. Types There are a variety of legal types of organizations, including corporations, governments, non-governmental organizations, political organizations, international organizations, armed forces, charities, not-for-profit corporations, partnerships, cooperatives, and educational institutions, etc. A hybrid organization is a body that operates in both the public sector and the private sector simultaneously, fulfilling public duties and developing commercial market activities. A voluntary association is an organization consisting of volunteers. Such organizations may be able to operate without legal formalities, depending on jurisdiction, includin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competitor Analysis
Competitive analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors. This analysis provides both an offensive and defensive strategic context to identify opportunities and threats. Profiling combines all of the relevant sources of competitor analysis into one framework in the support of efficient and effective strategy formulation, implementation, monitoring and adjustment. Competitive analysis is an essential component of corporate strategy. It is argued that most firms do not conduct this type of analysis systematically enough. Instead, many enterprises operate on what is called "informal impressions, conjectures, and intuition gained through the tidbits of information about competitors every manager continually receives." As a result, traditional environmental scanning places many firms at risk of dangerous competitive blindspots due to a lack of robust competitor analysis.(Fleisher & Bensoussan, 2007) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
