New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

Introduction to Strategy & The Environment

by: Kali Muren

Introduction to Strategy & The Environment MGT 471 - 0001

Marketplace > University of Missouri - Kansas City > Business, management > MGT 471 - 0001 > Introduction to Strategy The Environment
Kali Muren
GPA 3.0
View Full Document for 0 Karma

View Full Document


Unlock These Notes for FREE

Enter your email below and we will instantly email you these Notes for Strategic Management

(Limited time offer)

Unlock Notes

Already have a StudySoup account? Login here

Unlock FREE Class Notes

Enter your email below to receive Strategic Management notes

Everyone needs better class notes. Enter your email and we will send you notes for this class for free.

Unlock FREE notes

About this Document

Chapters 1 & 2 from the text book 'Exploring Strategy" by Johnson, Whittington, Scholes, Angwin, and Regner.
Strategic Management
Jeanie Latz
Class Notes




Popular in Strategic Management

Popular in Business, management

This 2 page Class Notes was uploaded by Kali Muren on Monday February 1, 2016. The Class Notes belongs to MGT 471 - 0001 at University of Missouri - Kansas City taught by Jeanie Latz in Spring 2016. Since its upload, it has received 55 views. For similar materials see Strategic Management in Business, management at University of Missouri - Kansas City.


Reviews for Introduction to Strategy & The Environment


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 02/01/16
MGT 471 C HAPTER 1 - I NTRODUCING S TRATEGY Strategy is the activities of an organization designed to successfully meet the mission/goals of an organization which will provide a competitive advantage over its competitors in the industry. (Example: McDonald’s extending their breakfast hours) What will your strategy be? Inexpensive pricing? Better customer service? Local business? It all depends on your goals and miLook at strategy as a series of decisions. Numerous strategies should be going on at the same time. Strategies that extend and defend core business (horizon 1), building emerging businesses (horizon 2), and create viable options (horizon 3). Apple: cell phones to wearables to cars. Levels of strategy: corporate (top), business (mid), operational (bottom). Strategy statements (less than 35 words) should have 3 main themes: - fundamental goals the organization seeks, which draw on the stated mission, vision, and objectives. - the scope or domain of the organization’s activities. - and the particular advantages or capabilities it has to deliver all these. Example: Vice Media – “to build the world’s largest online media group, focusing on youth with a diverse, international range of business and key relationships.” Example: Edward Jones – “to grow to 17,000 financial advisers by 2017 by offering trusted and convenient face-to-face financial advice to conservative individual investors through a national network of one-financial adviser.” Strategy positions: - all managers are concerned with strategy. - many large organizations have in-house strategic planning or analyst roles. - strategy consultants can be engaged from one of many general management consulting firms. Strategic position: learning everything about the company and where they stand as you can. - environment, culture, purpose, capability. C HAPTER 2 – T HE E NVIRONMENT Levels of the business environment classification: What factors are going to influence a company? PESTEL. Political, economic, social, technology, environmental, legal. P olitical: taxes, international relations, presidential elections (democrat or republican), conflicts/wars (depending on your company, they could benefit or hinder the company). Economy: interest rates (high or low), exchange rates (if the dollar is high, it’s going to cost them more in another country to buy my product), GDP (slow growing economy right now), stock market (companies care about their price per share because the shareholders care, shareholders could cause a lot of influence), wages, disposable income (who has it? are my products geared to the 1% that has disposable income?), inflation. S ocial: new ethical attitudes, “un-plugged” (streaming), life style changes (eating and being healthier), publications (print is going away, everything is online now), saving less than previous generations, entertainment (more interested in experiences than objects: including travelling), not keeping goods as long (phones, clothes, etc..), more diversity, baby boomers are getting older and the birth rate is decreasing, people are renting more VS buying, new generations are more tech savvy, busy society. Technology: social media (marketing, communication), big data (the cloud), privacy/security, easy access to lots of information at a much cheap price, automation/robots (will they replace their products or workers?), applications (phones), wearables, drones (transportation), virtual reality (travel agencies), 3D printing, biometrics. Environmental: global warming, waste (costing businesses more and more), pollution, recycle, how they use energy, water (conserving or wasting? droughts in California). Legal: regulations, raise wages, drug laws (marijuana, pharmaceutical), patent laws (used to be 20 years, now it is 7 years), health care (Obamacare).


Buy Material

Are you sure you want to buy this material for

0 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Steve Martinelli UC Los Angeles

"There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."

Amaris Trozzo George Washington University

"I made $350 in just two days after posting my first study guide."

Steve Martinelli UC Los Angeles

"There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."

Parker Thompson 500 Startups

"It's a great way for students to improve their educational experience and it seemed like a product that everybody wants, so all the people participating are winning."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.