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| encompasses all issues, occurrences, trends, etc. that are peripheral to the corporation and beyond the control of the TMT. |
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| relates to all aspects within the confines of the organization and generally are within the control of the TMT. |
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tools that can aid in the rapid adaptation to environmental changes.
help TMTs prepare for a wide range of possible future conditions from the highly likely to the highly unlikely. |
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alternative strategic plans to match the conditions highlighted in scenario models.
The less likely to occur but "could happen" scenarios |
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| Five Factors of the General Environment |
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Definition
(1) Sociocultural
(2) Demographic
(3) Economic
(4) Technological
(5) Political/Legal |
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factors that relate to a country's dominant religions, the population's general desire for leisure-time, attitudes toward consumerism, environmentalism, and the role of gender in society and business.
Generally characterized by the lifestyles, values, and belief systems of populations. |
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| factors that pertain to changes in the population size of a country, geographic distribution of people, ethnic mix, income distribution, average age, number of people in the family, etc. |
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| factors related to a country's inflation or deflation rates, interest rates, tariffs, balance of trade issues, growth of national economies, exchange rates, unemployment rates, labor availability, gross domestic products, savings rates, etc. |
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| factors pertaining to a country’s reception to innovation. Some national cultures discourage change while others embrace and support it. |
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| Factor centered on the political stability of a country, its legal system, and its general attitude toward business. |
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