MANA 201 Lecture Notes - Lecture 7: Strategic Planning, Core Competency, Southwest Airlines
18 Sep 2018
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One said its because they moved the rack away from the wall toward the front, so all stores are told to do the same change. ) They are on the growth, but are not the most profitable: technology. Goal of strategic management is to create above-average returns for investors. (how is it growing?: returns exceeding those for alternative opportunities at equivalent risk, earning above-average returns depends in part on the organization"s competitive environment. Innovation (patents: social responsibility (reducing the carbon footprint, ) Strengths, weaknesses (internal) and opportunities and threats (external) Core competency is a special strength that gives an organization competitive advantage (best strength) Important goal of assessing core competencies: potential core competencies, special knowledge or expertise, superior technology, efficient manufacturing approaches, unique product distribution systems. Porter"s model of five strategic forces affecting competition: Having a strategy doesn"t guarantee success, but not having one guaranties failure! : failures of substance.
