MGM101H5 Chapter Notes - Chapter 7-10: Pest Analysis, Swot Analysis

• School: UTM
• Department: Management
• Course: MGM101H5
• Professor: Dave Swanston

Document Summary

What are the core elements of assessing a business strategy: purpose, markets, product and services, resources, business system configuration, responsibility and accountability. Explain i/e analysis (4 main parts: there are 4 key parts of i/e analysis, macroeconomics: pestel, industry: porter"s 5 forces, competitors: swot, company: 3cs, external analysis involves what influences markets today, main business models to use for this analysis are pestel, porter 5 forces, 3 c"s, swot, types of competition. Explain strategy development: what the business plans to accomplish, big picture, business level strategy, how to accomplish corporate level strategy, how to compete in market sectors, operating plan, specific tactics to ensure the business strategy is achieved. Organization architecture is the totality of the firm"s organization. (organization structure, control systems, people, and incentive systems, organizational culture: organization structure, location of decisions making responsibilities in firm, division of firm into subunits, establishment of mechanisms to coordinating the activities of subunits, controls, metrics used to measure performance of subunits.