Identifying opportunity and risk

Abstract

After reading this chapter you will be able to:

• understand the difference between the general environment and the competitive or industrial environment

• identify those features of the external environment relevant to strategy making, notably opportunities and threats

• know how to manage change

• explore the different segments of the general environment — STEP — social or cultural, technical, economic or financial and political or legal

• recognize the main trends or tendencies which are part of global change over a strategic time period