Question

We will divide the class up into 4 parts according to your birth month and each part will be assigned an industry as follows:

Jan-Mar: Automobile industry

Apr-Jun: Social Media

Jul-Sep: Newspaper industry

Oct-Dec: Medical Services

From the perspective of your assigned industry, what strategic issues have the potential to create environmental uncertainty?

Choose a different industry from your own when responding to your classmates while also addressing their posts in your own thread.

Answer 1

1. Automobile industry- The strategic issues such as economic crisis, oil drilling in the Gulf countries, toxic emissions from the automobiles and the regulations imposed by the government; industry dependence contribute greatly to create environmental uncertainty for the industry. All of these factors contribute to lack of factual content of the external environment thus causing environmental uncertainty.
2. Social Media- False perceptions, false information, rumors, comments on important and trending issues, etc are some of the strategic issues that influence the mindset of the people thus creating environmental uncertainty in the external environment. There are endless ways in social media for manipulation and influence the attitude of the people. A business’ lack of information on the competitor’s branding in social media also creates environmental uncertainty.
3. Newspaper industry- This industry has uncertainties due to governmental actions. Declining profits due to increased competition in the industry has led to environment uncertainty. This has caused serious doubts about the functions of the newspaper companies in the industry.
4. Medical practices- The government and legal system to ensure the medical, healthcare providers and pharmacy companies follow the professional code of ethics in their medical practice create lot of challenges for the industry. strategic issues such as unscrupulous medical practices, untested drugs and equipment, improperly tested vaccines to combat competition, lack of efficient R&D department, etc create environmental uncertainty for the industry.