BU111 Lecture 4: BU111~ External Analysis Models
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Roadmap: business main goal is to maximize its profits, target is critical success factors, to reach target one must, have vision, then narrowed done to have mission, and finally able to develop a strategy to accomplish their goals, some strategies don"t fit the overall visions, need internal organization to make the strategy into a reality, human resources, external environment, creates obstacles, represents possible opportunities, pest, five forces. Critical success factors: achieving financial performance, reaching profit maximization, acquiring and paying off debt, minimizing expenses, efficiency/ higher return on investment (roi, roi depends on the industry, importance, encourages growth, connection to other factors, meeting customer needs, reach their satisfaction, supply for the demand of customers, understanding what customers want and supplying with them, anticipating what customers want in the future, importance, attracting customers, maintaining loyalty between employer and customer, building quality products and services.
