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LECTURE 4

LECTURE 4. Technological Environment. Ways in which firms create value Human knowledge Work methods Equipment Electronics and telecommunications. Technological Environment. Product/Service Technologies Technology used for creation of goods and services Automobile industry VS McDonalds

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LECTURE 4

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  1. LECTURE 4

  2. Technological Environment • Ways in which firms create value • Human knowledge • Work methods • Equipment • Electronics and telecommunications

  3. Technological Environment • Product/Service Technologies • Technology used for creation of goods and services • Automobile industry VS McDonalds • Basis of competition • Being technology leaders • Reducing cycle time

  4. Technological Environment • Business Process Technologies • Improves internal performance (information flow, report creation, better relationships with stakeholders)

  5. Technological Environment • Enterprise Resource Planning • Manages processes across products, departments and geographic locations (material, order and production management) • Identify main processes • Material flow –sales process – financial system

  6. Political-Legal Environment • Regulation- Defines Relationship Between Government & Business • Government = Pro vs. Anti-Business Sentiment

  7. Socio-cultural Environment Customs, values and demographic characteristics

  8. Socio-cultural Environment • Customer Preferences/Tastes- Vary • International • National • With time • Feeling about a job

  9. Socio-cultural Environment • Ethical Compliance & Responsible Behavior

  10. Business Environment • In terms of • Product delivery • Production facilities going international • New trends in employee working

  11. Business Environment • Redrawing Corporate Boundaries- Core Competencies • Challenges/Opportunities • Outsourcing (paying distributors to provide services) • Vertical Integration • Viral Marketing • Business Process Management • Post-9/11

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