BU111 Chapter 1: Chapter 1A - Critical Success Factors & Diamond E.docx
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BU111 Full Course Notes
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Document Summary
1-5 distinct of advantage, and then competitive advantage comes. The components of the diamond-e framework are all of the little boxes within it. The most important linkage within it is strategy. Diamond- e critical success factors: develop strategy that benefits environment to achieve financial performance, meet customer needs- understand organization. Management preferences: acknowledging that managers are human beings and that they have natural bias, approaches, desired outlooks. The better aligned the management preferences are with each other/strategy, the more successful the strategy will be. Managers decide the 3 main parts of resources. Organization: how is the organization structured, what are the abilities of the organization and what is the culture like (leadership style). The organization is very well suited to certain strategies and not so suited to others. What opportunities should you pursue, this should define what opportunities you should avoid. Strategy is the critical link, connects internal resources and things happening outside the business.
