Social Demographic
Assignment One 1
BUS 499
April 10, 2012
Assignment One – 2
1) Perform an analysis of the social/demographic, technological, economic environmental/geographic and political/legal/governmental segments to understand the general environment facing Great Lakes. Describe how Great Lakes will be affected by each of these external factors.
Social/demographic
The social demographic segment reflects the population size, the age structure, the ethic and income mix, and the geographic distribution. The Great Lakes Corporation employs over 3700 people. (1) The population for Indianapolis, Indiana where the Great Lakes Corporation affects has increased at a rate of 6.6% from 2000 to 2010. (2)
Technological
The Great Lakes Corporation will need to increase or expand its technology concerning the use of leaded gasoline. Technology can be costly when it comes to trying to come up with ways to eliminating a product that is harmful to consumers. Even though the corporation has had time to study what to do with the lead gasoline, there doesn’t seem to be a conclusion of the company’s next move. The longer the company waits, the more it is going to cost them. As stated in the case study, developing countries are going to eventually switch to unleaded gasoline which will put the pressure on the company to react quicker and possibly make decisions that are not thought completely through.
Economic/environmental
Any decision the Great Lake Corporation is going to affect the economic environment. If the company chooses to wait until they are forced to make a change, the effect to the economy could result in massive amounts of money needed to make the adjustment. Usually when that
Assignment One - 3 occurs, the company has a layoff to help recoup some of the money. This also affects the economy. The environment is affected
BUS 499
April 10, 2012
Assignment One – 2
1) Perform an analysis of the social/demographic, technological, economic environmental/geographic and political/legal/governmental segments to understand the general environment facing Great Lakes. Describe how Great Lakes will be affected by each of these external factors.
Social/demographic
The social demographic segment reflects the population size, the age structure, the ethic and income mix, and the geographic distribution. The Great Lakes Corporation employs over 3700 people. (1) The population for Indianapolis, Indiana where the Great Lakes Corporation affects has increased at a rate of 6.6% from 2000 to 2010. (2)
Technological
The Great Lakes Corporation will need to increase or expand its technology concerning the use of leaded gasoline. Technology can be costly when it comes to trying to come up with ways to eliminating a product that is harmful to consumers. Even though the corporation has had time to study what to do with the lead gasoline, there doesn’t seem to be a conclusion of the company’s next move. The longer the company waits, the more it is going to cost them. As stated in the case study, developing countries are going to eventually switch to unleaded gasoline which will put the pressure on the company to react quicker and possibly make decisions that are not thought completely through.
Economic/environmental
Any decision the Great Lake Corporation is going to affect the economic environment. If the company chooses to wait until they are forced to make a change, the effect to the economy could result in massive amounts of money needed to make the adjustment. Usually when that
Assignment One - 3 occurs, the company has a layoff to help recoup some of the money. This also affects the economy. The environment is affected
References: Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2011). Strategic Management Concept & Cases: Competitiveness & Globalization: 2011 custom edition (9th ed.). Mason, OH: South-Western Cengage Learning Bloomberg Businessweek http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=276253 The Official Website of Indianapolis and Marion County (2012) http://www.indy.gov/eGov/City/DMD/Planning/Stats/Census/Pages/population.aspx Petrostrategies, Inc. (2000) http://www.petrostrategies.org/Links/worlds_largest_oil_and_gas_companies.htm Petrostrategies, Inc. (2000) http://www.petrostrategies.org/Links/government_agencies.htm