MGTA02H3 Chapter Notes - Chapter 6: Horizontal Integration, Cost Leadership, Vertical Integration
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MGTA02H3 Full Course Notes
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Purposes: goal setting provides direction, guidance and motivation for all managers, goal setting helps firms allocate resources, gaol setting helps define corporate culture, helps managers assess performance. For mu lat ing strategy strategy formulation: creation of a broad program for defining and meeting an organization"s goals. Setting strategic goals strategic goals: long-term goals derived directly from a firm"s mission statement: set strategic goals, analyze the organization, analyze the environment, match the organization and the environment, formulate strategy. Swot analysis: identification and analysis of organizational strengths and weaknesses and environmental opportunities and threats as part of strategy formulation. (stregnths and weaknesses, environmental opportunities, and threats) www. notesolution. com. Analyzing the organization and its environment environmental analysis: the process of scanning the environment for threats and opportunities. organizational analysis: the process of analyzing a firm"s strengths and weaknesses. **concentration concentration strategy: involves focussing the company on one product or product line. Advantage: company can focus its strengths on the one business it knows well.
