[BU111] - Final Exam Guide - Comprehensive Notes for the exam (47 pages long!)
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BU111 Full Course Notes
Verified Note
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Document Summary
Should be memorable, engaging, and aligned with organizational values and culture. The vision is important because it directs the company, explains why it exists and where it is going. Talks about how you achieve vision, present to future. Effective mission statement, who what, why, and your benefits to others. Identifies key variables to be considered in strategic analysis. The plan the business uses to pursue opportunities and achieve csfs. The critical linking variables and the model. Determines and it determined by internal qualities. Any variable can either drive or constrain. Alignment externally ensures strategy right for the given environment. P and g strategy and 2000 (inconsistency), ikea strategy (consistency) Access force at work and their implications. Process of scanning and evaluating the external environment. How managers determine opportunities (positive external trends and changes) Look for data, stats, trends, forecasts, expert opinions, etc. Trade agreements and conditions regulations of domestic businesses.
