Discussion Questions - Essay Example

What can a corporation do Obtain information about strategic environmental factors;  Strategic information about the external environment can be obtained through several ways, one of which is conducting an environmental scan. The organization will have to look at two distinct factors: 1) societal 2) environmental. Societal factors normally take effect only in the long term; examples are changes in economy and technology, changes in political or governmental framework or other sociocultural factors.

Industrial factors evaluate different forces from the industry, like new entrants, bargaining power of buyers and suppliers, existing rivalry between firms etcetera. (Craig Dobbins).2) Ensure that information about strategic environmental factors gets to the attention of strategy makers; This part has to do with the organizational structure of the said company. Organizational Structure is defined as “The framework, typically hierarchical, within which an organization arranges its lines of authority and communications, and allocates rights and duties.

 Organizational structure determines the manner and extent to which roles, power, and responsibilities are delegated, controlled, and coordinated, and how information flows between levels of management.” (BusinessDictionary.com, 2012). If an organization has a flexible, decentralized organizational structure then it is easier for information to flow vertically through the different hierarchies and thus it’ll be easier for information about strategic environmental factors to come to the notice of strategy makers of the organization has a flexible structure. 3) That those strategy makers use that information as appropriate?

To make sure that the strategy makers use this information appropriately, top management can implement an internal audit/control system to keep check on subordinate management levels and what they are doing. Internal controls protect the organization against internal fraud, resource wastage, increases reliability, increases security and helps evaluate performance. (Internal Audit, Kansas State University, 2003). This way there is less chance of inefficiency and mismanagement. References1. BusinessDictionary.com. 2012.

Accessed on: June 20, 2012. 2. Craig Dobbins. “Strategic Planning: External Environment Scanning”. Center for Food and Agricultural Business, Purdue University. Accessed on: June 20, 2012. 3. Internal Audit. 2003. Kansas State University. Accessed on: June 20, 2012.