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Economic Forces
Interest rates, inflation, unemployment, economic growth, and other factors that affect
the general health and well-being of a nation or the regional economy of anorganization.
Social Forces
forces that arise from the society of which we are a part
Cultural Forces
values, customs, cultural symbols, and language
Demographic Forces
influences on an organization arising from changes in the characteristics of a
population, such as age, gender, or ethnic origin
Political Forces
the influence of political and legal institutions on people and organizations
Governmental Forces
Zoning, building and health codes also limit or support of new properties
Legal Forces
Laws that direct how business's must be operated
Technological Forces
Outcomes of changes in the technology that managers use to design, produce, or
distribute goods and services.
Competitive Forces
Identifying rival firms and determining their strengths, weaknesses, capabilities,
opportunities, threats, objectives and strategies
External Audit
Focuses on identifying and evaluating trend and events beyond the control of a single
firm
Industry Analysis
Collection and interpretation of information about forces, events, and relationships in the
external environment that may affect the future of the organization or the
implementation of the marketing plan
Information Technology
Any computer-based tool that people use to work with information & support the
information-processing needs of an organization.
Internet
A global network connecting millions of computers, making it possible to exchange
information.
Linear Regression
Forecasting tool using the assumption that the future will be just like the past
- Uses historical data to forecast
Market Commonality
The number and significance of markets that a firm competes in with rivals
Porter's Five-Forces Model
1. Rivalry among competing firms
2. Potential entry of new competitors
3. Potential development of substitute products
4. Bargaining power of suppliers
5. Bargaining power of consumers
Resource Similarity
The extent to which the type and amount of a firm's internal resources are comparable
to a rival