MGTA01H3 Lecture Notes - Lecture 10: Pest Analysis, Jargon, Barriers To Exit
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MGTA01H3 Full Course Notes
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Document Summary
Sometimes, it"s hard to see: what the purpose is, how to accomplish that purpose. Strategy: a coherent sequence of planned activities intended to realise a long-term goal. Leader: the individual who has the responsibility to determine an organisation"s path into the future. Leadership: the art of guiding or inspiring others to follow you into the future. Strategic management: where are we going? , where are we now? , how do we get there? . Helps managers set priorities ( am i doing the right thing? ) Helps managers allocate resources ( where should i put my effort? ) A strategy can"t be divorced from the realities on the ground. In business jargon, the process for answering the question where are we now? is called: Environmental analysis: the macro-environment: pest analysis, industry environment: 5 forces analysis, the internal environment: swot analysis. Looks at the wider pictures: politics, economy, society, technology. Change in federal or provincial governments and their policies.
