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Economics (79)
ECN 211 (35)
Tom Wang (1)
Lecture

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Department
Economics
Course
ECN 211
Professor
Tom Wang
Semester
Spring

Description
Finish Grammar Quiz !!!!! Waterloo to create Laurier ID Lab #2 Preparation  Course Model &Environmental Analysis Models Critical Success Factors  Achieving financial performance  Meeting customer needs  Building quality products and services  Encouraging innovation and creativity o Things don’t stay still very often, things will keep moving and changing rapidly o Definition of quality is not standing still o Companies will have to meet the needs of customer’s satisfaction of quality o Meet up to keep up with quality expectations in order to create the recurring revenue  Gaining employee commitment o People are the foundation that build your organization on o People are the “rock” that we build our house on o This is a situation where employees are engaged and meet their organizational goals o The employee should meet their personal goals o Definite linkage between the committed and creative employee with innovation and creativity o When they are more attached to te company they will be a bit more careful with their organization and they would serve the company as if their own.  Creating a distinctive competitive advantage o Being different in a way that customer’s value(unique) o More able to hang on to a slight profit margin Diagram #1 (sept.20,2012) “Diamond – D” Importance of Strategy  What opportunities the business is pursuing  Determines needed resources, organizational capabilities, and management preferences  Critical linking variable o It links the inside of business with the external environment o You need the strategy to reflect your business’s internal and external environment o Any one of the elements can really affect your strategy  Any variable can either drive or constrain strategy  Principal logic – consistency or alignment  First task – deal with strategy environment linkage  Asses forces at work and their implications Principal logic  Importance of Consistency between variables o E.g. P&G Strategy in 2000(inconsistency)  He wanted to buy too many different brands and it led to P&G going on a downfall o Ikea Strategy(consistency)  Absolute alignment is not realistic Strategy
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