Management and Organizational Studies 2320A/B Lecture Notes - Lecture 2: Core Competency, Swot Analysis, Baby Boomers

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Sean Kingston

Document Summary

Important to continuously monitor both internal & external environments: businesses need to rethink how they offer products & services to consumers. Knowledge, facilities, patents, human resources, etc: competition. Found that less than half of decision makers say that their company is involved in various ci initiatives: strategies to gather ci. Reviewing public materials (websites, press releases, industry journals, annual reports, subscription databases, permit applications, patent applications, trade shows) Interviewing customers, suppliers, partners, or former employees. A(cid:374)al(cid:455)zi(cid:374)g a ri(cid:448)al"s (cid:373)arketi(cid:374)g ta(cid:272)ti(cid:272)s, distri(cid:271)utio(cid:374) pra(cid:272)ti(cid:272)es, pri(cid:272)i(cid:374)g, a(cid:374)d. Can help identify which media forms firms should use: generation z/ digital natives. Born into a world of technology and electronic gadgets: generation y/ millennials. Grew up in a media- intensive and brand-conscious era, skeptical of what they hear on the media. If the(cid:455) (cid:271)elie(cid:448)e the sell is (cid:862)too hard(cid:863) the(cid:374) the(cid:455) (cid:449)o(cid:374)"t (cid:271)u(cid:455) it. Internet & tech savvy, love digital electronics. Many are starting families and will prime targets for homes and durable household products.