Hodge Podge
Increased efficiency in production due to specialization.
Higher Productivity
Willing to reappraise its goals, processes, target markets, etc.
Open-Mindedness
This involves rapid flow of capital, labor, and ideas across borders.
Globalization
Anticipating and planning for change in advance, staying ahead of potential problems and opportunities.
Proactive Management
The ongoing process to stay updated on environmental changes
Continuous Scanning
Smooth operations and streamlined information access.
Cohesiveness
This characteristic searches for ways to keep businesses on the cutting edge of their industry.
Strong Leadership
Evolving expectation for value, services, and social responsibility
Consumer Demands
Strategy used by adaptable organizations to face market changes
Competitive Aggression
Being mindful of surroundings and their impact
Environmentally Aware
The ability to anticipate change in the market
Visibility
This characteristic is essential for business in the global marketplace
Cultural Intelligence
Evolving methods and technologies in various sectors.
Industry Structure Changes
A stong focus on meeting customer needs and wants, is known as...
Marketing Orietation
Surroundings where businesses operate, impacting success
Business Environment
Growing rivalry among nations and businesses.
Increased Competition
Key characteristic of adaptable organizations
Flexibility
Fluctuations in consumer spending based on economic conditions.
Spending Trends
Resources that are above and beyond what are needed to operate an organization.
Slack Resources
The 3 steps to environmental scanning are...
Gather Information
Analyzing information
Determine Future Impact
The ability to adjust resources in response to changes.
Scalability
The ability to change quickly in response to the market.
Agility
This sector of business has been growing rapidly for the past couple of decades.
Service-Producing
Participative, less rigid management style focusing on outcomes and employee involvement in decision-making.
Innovative Management
Name 2 of the 3 types of competition.
Brand
Substitute Products
General