4.8: Why It Matters- Environments and Strategic Management
Why does a business need to understand the environment and strategy?
Imagine you’ve been working in the business world for a number of years and you have just been promoted to your dream job as head of North American operations for Walmart. As you’re settling into your new office, your boss, the CEO, drops by unexpectedly. He sits down and says, “I’m excited to have you in this new role, and I know you’re going to do fantastic.” Then he pauses briefly and continues, “Now tell me—what are you going to do about Amazon?”
You knew this question was going to come, but you weren’t expecting it before you had even unpacked. This is the question on everyone’s mind: how are you going to handle the competitive threat posed by Amazon? Stated another way, given the current political, social, and competitive environments, what is your strategy to succeed?
In this module, you will learn about the importance of crafting a well-thought-out strategy in order to be successful in business. You will learn techniques to assess the environments in which your organization operates and how to maneuver within them to achieve a favorable outcome.
Contributors and Attributions
- Why It Matters: Environments and Strategic Management. Authored by : Jeff Heflin and Lumen Learning. License : CC BY: Attribution
- Walmart Store Sign. Authored by : MikeMozartJeepersMedia. Located at : https://commons.wikimedia.org/wiki/File:Walmart_Store_Sign.jpg . License : CC BY: Attribution
- Amazon Logo. Authored by : Claudio Toledo. Located at : https://www.flickr.com/photos/catr/2443946244 . License : CC BY: Attribution