COMM101 Lecture Notes - Lecture 5: Small Business, Globaldata
7 Oct 2014
School
Department
Course
Professor
Document Summary
Value of the model: predicts industry profitability, helps determine whether a firm should enter a particular industry, helps determine whether and/or how firm can carve out an attractive position in that industry. Sources of information: standard & poors netadvantage provides industry trends, ratios, and key industry data, gmid market share data by company and brand; industry growth data, marketline five forces analysis and swot, fpinfomart canadian data. Benefits of external analysis: makes managers proactive, provides information used in planning, helps organization get needed resources. Monday, september 22, 2014: helps organizations cope with uncertainty. Challenges of external analysis: forecasts and trend analyses are imperfect, rapidly changing environment is hard to keep up with, time consuming. Textbook content and resources: emerging challenges and opportunities in business environment, review questions at end of chapter, do pearson multiple choice questions. New venture recently formed commercial organization that sells goods/services (< 5 years) Entrepreneurship identifying an opportunity and accessing resources to capitalize on it.
