External Environment and Brands
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1. Given the importance of understanding the external environment, why do some firms fail to do so? Provide examples of firms that did not understand their external environment. What were the implications of the firm's failure to understand that environment?
2. Several companies use their brand as a competitive advantage. Given your knowledge about the global economy, which brands do you believe have the strongest likelihood of remaining a source of advantage in the twenty-first century? Why? What effects do you believe the Internet's capabilities will have on this brand, and what should the owner of the brand do in light of them?
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Solution Summary
This solution discussed business strategies in regards to the external environment and brands.
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1. Given the importance of understanding the external environment, why do some firms fail to do so? Provide examples of firms that did not understand their external environment. What were the implications of the firm's failure to understand that environment?
Some firms fail to do so because they do not understand its impact upon them as a whole. They are focused on the internal but take for granted what goes on outside of it too. This is due to getting comfortable with how things are currently taking place with leading and managing. In regards to examples, these are important to address. For instance, Venezuela, particularly that of Chavez seized Cargill because they were not complying to the laws of the land. This was for a period of ninety days and temporary, of course. Wal-Mart is also guilty of violating the Clean Water Act and harming the environment. Within this organization, they had to pay a $81 million dollar fine for doing so when that should not have occurred at all.
The implications are huge for both of these businesses. First, they lost money in the process because of either a government takeover of it, or they had to pay those who ...
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