MGM101H5 Lecture Notes - Lecture 8: Pest Analysis, Vision Statement, Swot Analysis

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1 Nov 2018
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October 31,2018
MGM101H5
PROFESSOR DAVE SWANSTON
LECTURE- BUSINESS STRATEGY
Development of business strategy is one of the most important responsibilities of senior
management team or owner
Organizations ability to evolve and grow is based on two fundamental principles:
Defining and creating strategic plan for developing market position of organization
Executing core tactical initiatives of plan ensuring success of organization
Well defines and positioned strategy along with effective and efficient tactics leads to
growth and profitability of business
CORE ELEMENTS FOR ACCESSING BUISNESS STRATEGY:
IMAGE:GOOGLE
PURPOSE:
Purpose Refers to mission of organization and vision of managers or owners
Mission is the fundamental purpose of business and its reason for existence
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