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INTL 4400 (5)

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INTL 4400
David Weitzner

1st Class Efficiency vs effectives: doing things right vs doing the right things = there is often a tradeoff because what you want to do is too expensive so you can't choose the most cost effective thing. BP - restoring state of environment after the spill, but it was not feasible or affordable. Strategic question: how can we be both effective and efficient? Which statekholders should I think about knowing i have to think about an effective vs efficiency trade off Compettive advantage is a relative construct - what makes an excellent firm? you ask, against who? - competitive advantage is to be better than another person/company - your goal as a strategist is to make your firm better than your competition, not the best, because best doesn't mean anything Strategy is about action, and sometimes we will take that action with imperfect or incomplete info - a good analysis involved both scanning (keeping your eyes open, you can't know everything about everything but you should try to be on top of trend) and monitoring strategic forecast - we cannot see in to the future, so your forecast is your best guess SWOT can be useful for refining your thoughts.
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