BU111 Lecture Notes - Lecture 1: Swot Analysis
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BU111 Full Course Notes
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You discover what your market wants and you give it to them, or you create their wants/needs by creating something: building quality products and services consistently giving a customer good value. Identifies key variables to be considered in strategic analysis: double headed arrows mean that everything influences each other. Strategy-environment linkage: strategy: what opportunities the business is pursuing. Orga(cid:374)izatio(cid:374) i(cid:374)flue(cid:374)ces : organization refers to culture, leadership, structure, and capabilities (clsc, strategy: you have to have the right clsc in order to have the right strategy you may not have the leadership/structure/etc appropriate for the strategy you prefer. External analysis: process of scanning + evaluating the external environment look for data, stats, tre(cid:374)ds, forecasts , swot: strengths, weaknesses, opportunities, threats, how managers determine. Opportunities (positive external trends/changes) threats (negative external trends/changes: firms face multiple environments (must analyze both environments, general environment: affect all businesses. Pest model identifies general trends/changes: specific environment: affects industry participants every industry has its own environment.