MGTA01H3 Chapter Notes - Chapter 10: Pest Analysis, Swot Analysis, Strategic Management
●Strategy
○A coherent sequence of planned activities intended to realise a large or long-term
goal
●Strategic management
○The activities undertaken by an organisation’s senior managers to determine the
organisation’s long term goals and objectives
○Can be reduced to three simple questions
■“Where are we going?”
■“Where are we now?”
■“How do we get there - from here?”
●Leader
○The individual who is responsible for determining an organisation’s path into the
future
●Leadership
○The art of guiding or inspiring others to follow. Different from dictators and
bullies, who exercise power and force people to bend their will
●Mission
○The reason why a business exists, and the goals that it is trying to accomplish.
Captures both the reason for a business’ existence, and the sense of where it is
headed (purpose and direction)
●Mission Statement
○The articulation of an organisation’s mission. Intended to communicate the
answer to some fundamental questions about an organisation, such as: “Why do
we exist?”, “What is our purpose?” and “What are we trying to accomplish?”
○Determining the business’ purpose and direction is the responsibility of the
business’ leaders, not academic researchers
●Stakeholders
○Individuals and organisations that will be affected by a business’ activities and
decisions
●Environmental analysis
○Evaluating the possible or probable effects of various forces and conditions on an
organisation’s survival and growth. The process for answering the question
“Where are we now?”
●Model
○A simplified representation of something, created to give an idea of how
something could or might look
○Three commonly used strategic analysis models are: PEST Analysis, Five Forces
Analysis, and SWOT Analysis.
●PEST Analysis
○PEST is an acronym symbolizing Political, Economical, Social, and
Technological. The model considers the broad external environment facing the
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MGTA01H3 Full Course Notes
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Document Summary
A coherent sequence of planned activities intended to realise a large or long-term goal. The activities undertaken by an organisation"s senior managers to determine the organisation"s long term goals and objectives. Can be reduced to three simple questions. How do we get there - from here? . The individual who is responsible for determining an organisation"s path into the future. The art of guiding or inspiring others to follow. Different from dictators and bullies, who exercise power and force people to bend their will. The reason why a business exists, and the goals that it is trying to accomplish. Captures both the reason for a business" existence, and the sense of where it is headed (purpose and direction) Intended to communicate the answer to some fundamental questions about an organisation, such as: why do we exist? , what is our purpose? and what are we trying to accomplish? .
