BU111 Lecture Notes - Canadian Dollar, Canadian Business, Stakeholder Management
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BU111 Full Course Notes
Verified Note
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Document Summary
Critical success factors: achieving financial performance, meeting customer needs, gaining employee commitment. Diamond-e framework: identifies key variables to be considered in strategic analysis. The internal organization and the environment are tied together. Always consider the decision maker, and their preferences. Organization the culture, the capabilities and the leadership. Organization and management preference are connected because management preferences influence the culture (how things are done) of the organization. Resources determine the culture and capabilities what buildings, facilities we have, and how much money we have determine our capabilities. Resources that exist in the organization have an influence on what management prefers to do, and how to do it. Strategy we decide to take determines what resources we need, and the organization what skill set do we need? and management preference. Strategy: what opportunities the business is pursuing determines needed resources, organizational capabilities, and management preferences: any variable can either drive or constrain strategy.
