BU111 Lecture Notes - Lecture 3: Customer Switching, Business Process Management, Corporate Social Responsibility

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

Document Summary

Management preferences: opinions, what the managers want, managers bias, management preferences set the tone: (management to organization) management decides how we divide the work, (organization to management) our capabilities bias. Resources: financial, capital and human resources the company has: (management to resources) determining what resources we develop, (resources to management) bias management preferences depending on what resources we have you will do things a certain way. Diamond e can: assess current strategy, generate new strategic proposals, evaluate strategic problems. Strategy: the plan the business uses to pursue opportunities and achieve csf. Any variable can either drive or constrain strategy. Alignment externally ensures strategy right for the given environment. Examples: p&g strategy in 2000 (inconsistency), ikea strategy (consistency) External analysis process of scanning and evaluating the external environment how managers determine opportunities (positive external trends or changes) and threats (negative external trends or changes) Firms face multiple environments: general environment; affects all businesses, specific environment; affects industry participants.