strategic entrepreneurship t2
TRANSCRIPT
STRATEGIC ENTREPRENEURSHIP
TOPIC 2DR ANIS AMIRA AB RAHMANSYAMSURIANA BINTI SIDEK
FACULTY OF ENTREPRENEURSHIP AND BUSINESSUNIVERSITI MALAYSIA KELANTAN
Dr Anis Amira Ab Rahman 14
ENVIRONMENTAL SCANNING FOR STRATEGIC ENTREPRENEURSHIP
Dr Anis Amira Ab Rahman 14
Strategic Entrepreneurship and Strategic Management
Source : Wheelen, T. L. and Hunger, J. D. (2000 cited in Kuratko, D. F. & Hodgetts,
R. M., 2004: 521).
Dr Anis Amira Ab Rahman 14
NEW PRODUCT AND STRATEGY
Includes:
• New product in an established or new market
• Established product in a new market
• A new organization
Entrepreneurial strategy
• Set of decisions, actions, and reactions that generate, and exploit, a new entry over time
Dr Anis Amira Ab Rahman 14
NEW PRODUCT AND IDEAS
• Types of ideas that develop based on different ideas
Dr Anis Amira Ab Rahman 14
Environmental Scanning for Strategic Entrepreneurship
Source : Hisrich, R. D., Peters, 2009
Dr Anis Amira Ab Rahman 14
Environmental scanning
Environmental scanning is one of the components of globalenvironmental analysis.
Other components are monitoring, environmentalforecasting and environment assessment
The global environment refers to macro environment whichcomprises of industries, markets, companies, clients andcompetitors.
Societal Environment, Task Environment and InternalEnvironment are the components that employed inenvironmental scanning
Dr Anis Amira Ab Rahman 14
External/Societal Environment
External- refers to factors, forces or situation and eventsoutsides the organization and the affects of its performance.
Economic forces, Sociocultural forces, political-legal forcesand technological forces construct the social environmentelement.
The economic forces encompasses factors such as interestrates, inflation, changes in disposable income and stockmarket fluctuation.
The technological forces concerned on new systems ortechnical knowledge in the business that have the ability toinfluence the overall business performance.
Dr Anis Amira Ab Rahman 14
External/Societal Environment
The sociocultural forces component focusing on societaland cultural factors such as values, attitudes, trends,traditions, lifestyles, beliefs, tastes and patterns of behavior.
The Political-Legal forces are regulatory and politicaldispensations of any given national or state government aredetermined by the orientations of its ideology. Thesepolitical and legal forces shape the profile of your businessenvironment. It is important to understand these forces andtheir impact on the performance of your business tonavigate these channels successfully.
Dr Anis Amira Ab Rahman 14
Task Environment (INDUSTRY)
Task environment (industry) analysis exposes that shareholders,suppliers, Employees/labor unions, competitors, tradeassociations, communities, creditors, customers, special interestgroup and governments are ten parties that influencing thecompany performance.
For instance experts say that by 2050, the number of company’scustomer will increase. This increasing of customer may affect theoverall business system in the organization.
Besides that, government also plays an important role in targetingthe growth of the business. Some of laws and legislation mayaffect the productivity of the company entirely.
Dr Anis Amira Ab Rahman 14
Internal Environment
The Internal environment consist of company structure,culture and resources.
The conditions, entities, events, and factors within anorganization will influence its activities and choices,particularly the behavior of the employees.
Factors that are frequently considered as part of theinternal environment include the organization's missionstatement, leadership styles, and its organizational culture.
Dr Anis Amira Ab Rahman 14
References
Dr Anis Amira Ab Rahman 14
Aashish Mehra, G. S. (2011). Managing rapid growth : How mid caps can leap into the billion dollar club .
Kuratko, D. F., & Hodgetts, R. M. (2004). Entrepreneurship: Theory, process, practice. Mason, Ohio: Thomson/South-Western
Dollinger, M, J. (2008). “ENTREPRENEURSHIP: Strategies and Resources Fourth Edition”, Kelley School of Business, Indiana University. MARSH publications, pp. 33-40.
Drucker, P. F., & Drucker, P. F. (2007). Innovation and entrepreneurship: Practice and principles. Routledge.
Hisrich, R. D., Peters, M. P., & Shepherd, D. A. (2009). Entrepreneurship. New York: McGraw-Hill Higher Education.
Lieberman, M. B., & Montgomery, D. B. (1988). First‐mover advantages. Strategicmanagement journal, 9(S1), 41-58.
R. Barringer, Duane,(2009).Successfully Launching New Ventures: McGraw-Hill Higher Education.
Zimmerer, T., Scarborough, N. M., & Wilson, D. (2002). Essentials of entrepreneurship and small business management (Vol. 2). Upper Saddle River, NJ: Prentice Hall.