Balancing theory with practice, this fully updated fourth edition of John A. Parnell's acclaimed text continues to provide detailed, accessible coverage of the strategic management field. Concise, easy to understand chapters address concepts sequentially, from external and internal analysis to strategy formulation, strategy execution, and strategic control. To help readers build their analytic skills as they master course concepts, Parnell aligns each chapter's key concepts with 25 case analysis steps, rather than relegating case analysis to a chapter at the end of the book. Current examples and high interest real-time cases, largely drawn from The Wall Street Journal and Financial Times, illustrate the key role of strategic management in the United States and around the world. Ideal for the capstone strategic management course, Strategic Management is appropriate for a range of undergraduate and graduate courses.

The External Environment: Social and Technological Forces

The external environment: Social and technological forces

Chapter Outline

  • Social Forces
    • Case #1: Eating Habits
    • Case #2: Automobiles
    • Global Concerns
  • Technological Forces
  • The Internet
  • Strategic Dimensions of the Internet
    • Movement Toward Information Symmetry
    • Internet as Distribution Channel
    • Speed
    • Interactivity
    • Potential for Cost Reductions and Cost Shifting
  • Forms of Electronic Commerce
    • Business-to-Business
    • Business-to-Consumer
    • Business-to-Government
    • Consumer-to-Consumer
    • Consumer-to-Business
  • Commoditization and Mass Customization
  • Environmental Scanning
  • Summary
  • Key Terms
  • Review Questions and Exercises
  • Practice Quiz
  • Student Study Site
  • Notes

The previous chapter discussed two components of the macroenvironment: (1) politi-cal-legal forces and (2) economic forces. This chapter continues our examination of external influences on the industry by addressing the other two elements of the PEST (political-legal, economic, social, and technological): social and technological forces.

As previously mentioned, each external force embodies a number of key issues that vary across industries. Some issues are specific to a single ...

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