BU111 Study Guide - Midterm Guide: Grameen Bank, Switching Barriers, Bargaining Power
19
BU111 Full Course Notes
Verified Note
19 documents
Document Summary
The relationship between firms and the external environment. Course model and critical success factors (what are they, how are they important, how do they connect to one another) Achieving financial performance: combination of performance and cash flow, you can"t stay in business unless you pay the bills (make profits as well) more money coming in than going out. Creating a distinctive competitive advantage: firm sustains profits that exceed the average for its industry, 2 types (positional advantages) Differentiation advantage: firm is able to deliver the same benefits at lower costs (cost adv, deliver benefits the exceed those of competing products (diff adv) Identifies key variables to be considered in strategic analysis: used when designing a brand new strategy, does the strategy fit all the diamond needs and the outside environment. The framework can be divided into two sub-group: the internal group (consisting of management preferences, organization, and.
