MGMT 1000 Lecture Notes - Lecture 3: Swot Analysis
Document Summary
Sustainability managing the environmental, social and the economic factors of your company. Using swot anaylsis to think abt your business plan. Swot = strengths/weaknesses/opportunities/threats basic assumption is achieving (cid:862)fit(cid:863) (cid:271)wt(cid:374) i(cid:374)ter(cid:374)al (cid:272)o(cid:373)pete(cid:374)(cid:272)ies a(cid:374)d e(cid:454)ter(cid:374)al opportu(cid:374)ities. Innovative companies thrive by offering new products well ahead of competition: employing aggressive pricing strategy to undercut competition, thriving on customer loyalty by providing customized value and unique benefits that no other firm can copy. Must focus on social + environmental impacts with financial ones. Economic aspects of tbl: you need to make money to pay your employees, suppliers, shareholder etc. Indicators of success that managers attend to: profit or loss statements, share values. Indicators: pollution reports, energy consumption, # of environmental legal cases, environmental audit included in annual report, recognition in industry awards progra(cid:373)s, (cid:862)gree(cid:374)(cid:863) (cid:272)ertification like leeds for construction industry. Companies embrace tbl for: protection from lost revenues related to consumer boycotts and activist backlash activities, more tha(cid:374) (cid:862)profit(cid:863) approa(cid:272)h attra(cid:272)ts passio(cid:374)ate e(cid:373)plo(cid:455)ees.