BU111 Lecture Notes - Lecture 2: Digital Photography, Ikea, Kodak

• School: WLU
• Department: Business
• Course: BU111
• Professor: Sofy Carayannopoulos

Document Summary

Identifies key variables to be considered in strategic analysis. Management preferences: the biases, the objectives, the opinions and vision: biases of managers determine/effect resources configuration of the organization, ex. Two managers; one believes in more capital resources and investing in technology, machinery, another believes in human resources, thus investing in people. Strategy: many strategies a company can pursue; management preferences can decide the strongest one to implement, organization influences strategy through the values/culture of the organization (ex. It is the plan that businesses use to pursue opportunities and achieve the critical success. Why is this framework important: assess your current strategy, generate new strategic proposals, evaluate strategic proposals. Strengths and weaknesses lie in the organization, strategy and resources categories. Principal logic (diamond-e: consistency or alignment, consistency internally leads to performance, alignment externally ensures strategy right for the given environment, **environment is constantly changing, ex.