MGCR 423 Lecture Notes - Lecture 5: Knowledge Base, Outsourcing, Human Capital

• School: McGill University
• Department: Management Core
• Course: MGCR 423
• Professor: Biswanath Bhattacharyay

Document Summary

Hypothesis driven approach what most consultant firms use to solve problems. Structured planning approach: 4 phases: preparation, analysis, decision-making, implementation. External analysis: 3 different categories: general environment (political, legal, etc. ), competitive environment (industry and competitive positioning): po(cid:396)te(cid:396)"s 5 fo(cid:396)(cid:272)es: supplie(cid:396)s, (cid:272)usto(cid:373)e(cid:396)s, su(cid:271)stitutio(cid:374)s, (cid:374)e(cid:449) e(cid:374)t(cid:396)y, (cid:272)o(cid:373)petitio(cid:374) Note: ensure regular status update meetings with key stakeholders throughout the process (internal and external) Page 1: now your options: call uber, call tow truck, call a taxi, take uber and now you made it on time. Problems: time wasted, look at all the variables that can challenge your hypothesis, hypothesis becomes answer/conclusion instead (hypothesis is suppose to be the hunch of what your answer can be) By studying the external environment, firms identify what they might choose to do: shows general environment, the industry and customers, tells you the opportunities and threats. Components of an internal analysis: by studying the internal environment, firms identify what they can do.