IBUS1101 Lecture Notes - Lecture 7: Ikea, Swot Analysis, Elon Musk

• School: University of Sydney
• Department: International Business
• Course: IBUS1101
• Professor: Sidney Gray

Document Summary

Lecture 7 (3/5/18) strategy and organisation in the. Strategy planned set of actions that managers take to make the best use of the firm"s resources and core competencies, to gain a competitive or firm-specific advantage. Managers use swot analysis to develop strategies. Then decide target market, product line offerings, how to contend with competitors, how to configure global activites. Michael porter 1996 strategy = being different, choosing different set of activities to deliver unique mix of value . Managers should aim to develop global scale in efficiency, multinational flexibility, and innovation. Efficiency: lo(cid:449)er the (cid:272)ost of fir(cid:373)"s operatio(cid:374)s a(cid:374)d a(cid:272)ti(cid:448)ities i(cid:374)ter(cid:374)atio(cid:374)all(cid:455) Flexibility: the agility to manage diverse country-specific risks and opportunities by tapping resources in individual countries and exploiting local opportunities. Learning: develop firm products, infrastructure and skills by internalising knowledge gained from international ventures/networks. Pattern of shared values, behavioural norms, systems, policies and procedures that employees learn and adopt.