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Background Information
The external environment may potentially have a significa
Background Information
The external environment may potentially have a significant impact on managerial decision-making.
In our internal environment, the organization’s core competencies (such as human resources) and capabilities (the strengths within the organization) can be managed internally.
However, the external environment (political, economic, sociocultural, technological, legal, and environmental), cannot necessarily be controlled but instead must be managed. This is where the impact of the external environment is critical for managerial decision-making.
Let us take a few examples for consideration:
The 2023 Earthquake in Turkey
BREXIT – The United Kingdom’s exit from the European Union
The 2020 Pandemic
Supply chain disruptions, etc.
Can you imagine how all international companies were challenged with decision-making in these situations? This leads us to our assignment.
Instructions
For this assignment, consider an organization where you work (or an organization with which you are familiar). Prepare a memo addressed to an executive in the organization that includes the following:
Describe a specific situation that a manager/s faced within the selected organization. Which aspect of the external environment impacted the decision made and what was the decision?
Explain the steps that the manager/s took to resolve the issue.
Apply what you have learned from this example, and explain how you may have resolved the situation differently.
Your memo should be approximately one page in length.
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