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And Houston, B. (2002) 2nd edition, Business Strategy: an Introduction, Elsevier ButterworthHeinemann This is an accessible textbook that provides a straightforward and comprehensive guide to complex issues and concepts. See Chapters 4 and 5 for products and markets, including market segmentation, product life cycles and new product development. See Chapter 6 for a new view on SWOT and PESTLE analysis – SPENT analysis. 2 The conditions for change Johnson, G. and Scholes, K. (1999) 5th edition, Exploring Corporate Strategy, Prentice Hall Europe This is a classic work on corporate strategy.
And Moreton, K. M. (2004) Strategic Management and Business Analysis, Elsevier Butterworth-Heinemann This text provides a road map for the strategic analysis of a company or organisation. It identifies the key strategic questions and provides clear guidance on how they may be answered. See Part 1 ‘The Four Big Questions You Need to Ask’, and Part 2 ‘Helping You Answer the Four Big Questions’ for an analysis of organisation structure, strategic processes and competitive advantage. htm This website offers a wide range of useful and interesting articles on the subject of change management.
2 The business environment For instance, a PESTLE analysis can be used to identify external triggers for change. As trading conditions become more volatile and change more rapid, so organisations need to continually scan their environment for the political, economic, social and technological 30 2 The conditions for change changes that will impact particularly upon their business. 1. Changes in the economic environment There will be short-term, cyclical changes demanding fast reactions such as cost cutting or firefighting to meet sudden surges in demand But there are also the long-term structural changes in the economy, such as: ♦ underlying growth and inflation rates ♦ globalisation of markets ♦ regional economies such as the EC and the euro ♦ de-industrialisation Technological changes The huge reductions in information costs produce both opportunities and increased pressures Technological advances reduce the entry costs into many businesses Shorter product life cycles with increased scope for new products and methods of distribution make more opportunities available to all organisations in an industry Political changes The trend in numerous countries towards moving public enterprises into the private sector is a major source of change.