33:620:301 Study Guide - Midterm Guide: Organizational Architecture, Hypertext, Pest Analysis
8 Apr 2014
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Four main topics: management overview and evolution, strategic management, organization management, performance management. ; drucker and mcgregor: strategic- driven by economics and industry perspective, a more thoughtful process of looking at how business were being managed for success; henderson, drucker, What is mgmt: review slides for this. Action plan for outperforming competitors and achieve superior profitability. Key purposes: financial performance, strengthen competitive position, gain competitive advantage (through cost or differentiation) Five stages: vision, mission, values, setting objectives, crafting strategy to achieve objectives, executing strategy, monitoring and adjusting. External analysis: competitive forces five forces look at industry not the company, and the pestel analysis, driving forces, market positions, strategic moves of rivals, key success factors product attributes, service characteristics, resources. Is present strategy working: resources and capabilities vrin testing, opportunities and threats, costs and value proposition value chain and how it contributes and adds value to company, measured internally by profit margin, competitively stronger or weaker.
