BU481 Lecture Notes - Lecture 1: Making Money, Strategic Management
Document Summary
An ongoing process that evaluates and evolves a firms direction by: assessing competitive environment and setting goals, determining and choosing between strategic choices, regularly re-assessing implementation, evaluating changing/newly emerging circumstances. Other courses generally cover one functional area of business: accounting, marketing, finance, operations ob. Strategic management will focus on business as a hole: holistic approach to answer really big picture questions. What determines the total corporate performance of an entire business enterprise. Think like a leader, no matter what your role. Start by recognizing the decision maker"s role in the case: ceo, manager, vp. Clearly identify the key issues/problems this company is facing as part of our assessment. Who is gaining value in the industry. What do firms need to win ksf. Key ratios: revenue growth, net income growth, same store growth, eps growth, roe, roa, ros, current ratio, debt/equity.
