BU111 Study Guide - Final Guide: Toronto Stock Exchange, Switching Barriers, Capital Gain
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BU111 Full Course Notes
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Critical success factors // diamond-e framework // external analysis. Critical success factors: achieving financial performance, meeting customer needs, building quality products and services, encouraging innovation and creativity, gaining employee commitment, creating a distinctive competitive advantage. Model: identifies key variables to be considered in strategic analysis. Strategy: the plan the business uses to pursue opportunities and achieve critical success factors. Determines and is determined by internal qualities. Any variable can either drive or constrain. The critical linking variable in the model. Alignment externally ensures strategy is right for the given environment. External analysis: process of scanning and evaluating the external environment. To perform an external analysis: general environment: pest model (identify general trends & changes, specific environment: five forces (analyze competitive pressure & predict profitability) Look for data, statistics, trends, forecasts, expert opinions, etc. Political stability: protection of consumers, support for and protection of domestic businesses, opportunity creation in foreign markets. Affects uncertainty, risk, and constraints or costs faced by firm.
