BU111 Lecture 6: BU111 - Lecture 6 - Environmental Analysis Models Continued
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Bu111 - lecture 6 - environmental analysis models (continued) Exit barriers: things that may prove to be a threat when exiting a market. When exit barriers are high, rivalry is increased. Looking out, and looking ahead of the curve. More likely to come up with a better plan. Helps you get the needed resources on time. You want the strategy to be aligned with the environment. Internal features must be able to execute the strategy. Create a contingency plan in advance if you ask what could go wrong? . Use these issues and create solutions for these potential problems. Rapidly changing environment hard to keep up with. Eventually give up with maintaining pace of external world. New venture - recently formed commercial organization that sells goods/services. Entrepreneurship - identifying an opportunity and accessing resources to capitalize on it. What businesses have to engage in to find opportunities to succeed. Small business - owner-managed, not dominant in market, <100 employees.
