BUS-101 Lecture Notes - Lecture 3: Quaker Oats Company, Rolex, Root Mean Square
Document Summary
Organizational culture: its important to establish a set of core values with input from employees and then refer to the values as guiding principles for both large and small decisions. Recruiting and selecting promising employees who embrace those values is critical ex. Patagonia focuses its missions and messages on simplicity, utility and supporting the environment. The company hires rock climbers and surfers who embrace the same core values, helping them to achieve company goals. Corporate strategy: necessary so the organization can achieve its missions and goals. A corporate strategy de nes the business, market, or industry in which the organization will operate. Strategy also informs the allocation of resources among entities to support the strategy. Core competency: when deciding on a strategy, business leaders consider the organizations core competency. Source of a rms competitive advantage: what the rm does best and how it differentiates itself from its competitors.
