In week 3, we discuss Chapter 3 and how to evaluate the external environment. Part of that analysis requires a review of the state of the economy along with what the outlook will be. Within the confines of the simulation, the economy is fairly steady. However, in real life, we are in the middle of a pandemic that has taken it’s toll on many business.
For this weeks discussion, do a brief external analysis of your shoe company within the simulation as if it were a live company. Identify two areas to focus on (i.e. employment, or consumer options for competitors) and discuss the following:
-Potential impact of the external environment
-Necessary strategy changes
-Potential outcome of strategy changes