BU111 Study Guide - Midterm Guide: Complementary Good, Switching Barriers, Network Effect
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BU111 Full Course Notes
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Document Summary
The relationship between the firm and its external environment: critical success factors: what they are, why they are important, how they connect to each other. Incentive plans, training, participate in management decision making. Employees are driving force behind a business should changing be and. Encourage customers and out compete competitors: diamond-e model: key variables, connections among variables, principal logic, examples, key variable: >>strategy: what opportunities the business is pursuing determines the resources, organizational capabilities, and the management preferences: the critical linking variable in the model. > any variable can either drive or constrain: principal logic: consistency or alignment. Strategy must be consistent with internal workings of company (preferences, resources, etc. ) Consistent quality: communication gaps are bridged. Letters vs. texting: affects porter"s forces. Threats: easy to recreate (imitate, excessive information, unfamiliarity to organizations, constant change can be a hassle, differences in standards through evolution.
