BU111- Final Exam Guide - Comprehensive Notes for the exam ( 54 pages long!)
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BU111 Full Course Notes
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Document Summary
Critical success factors: vision, should be memorable and engaging, aligned with organizational values and culture, guides: where do we aim to be, future-oriented, mission, effective mission statement, guides strategy, why, how, who, benefit, strategy. Vision is broad, mission narrows, strategy is most narrowed. Internal organization (employees and partners) work to put the strategy into action. The environment must be analyzed for possible problems. Suppliers: charge for supplies and affect input cost. Substitute: products that aren"t as good, but are similar and cheaper: capture consumer base and affect revenue. Factors: many competitors of equal sire, low industry growth, low consumer switching costs, commodities/perishable, exit barriers. Suppliers factors: few suppliers, few good substitute suppliers/inputs, high switching costs, threat of forwards integration. Solutions: strategic alliance, long run: redesign product or needed input. Buyers factors: few/concentrated buyers, discretionary purchase, standardired products, low switching costs. Solutions: form alliance with other sellers, strong marketing/differentiation, create switching costs.
