BUSS3500

Topics: Strategic management, Management, Customer Pages: 0 (1002 words) Published: September 4, 2014
Week 2: External Analysis
Strategy: is the long-term direction of an organization
Mission: reason of company to exist, overriding purpose of the organization, what is central Vision: the forward looking picture of future, what to do to reach the mission, the desired future state of the organization Objective: more precise, ideally statements of the organization’s goals over a period of time Strategy: - corporate ~: overall scope of an organization, how value is added to the businesses of the organizational whole, (expansion, shutdown, no change); - business unit ~: how the individual business would compete in the particular market, (cost leadership/differentiate); operational ~: how the components of the organization could deliver effectively the corporate and business strategy in terms of resources, processes and people (marketing, finance, HR, R&D). Definition: long run goals and objectives of an enterprise, the adoption of course of action and allocation of resources to meet the goals. Competitive advantage: in order to be different, deliberately choosing a different set of activities to deliver a unique mix of values. Scope: customers or clients, geographical location, extent of internal activities

Exploring strategy model:
Strategic position (environment, capability= resources + competence, purpose, culture), competence is technical and managerial skills, using PEST, environment varies because of attractiveness and dynamism Strategic choices (business, international, innovation, acquisition), direction the business will move to and methods the strategy be pursed Strategic action (evaluating, organizing, practice, processes), how chosen strategy are actually put into practice

Environment: is what gives organizations means of survival, it creates opportunities and it presents threats. The macro-environment: PESTEL, six environmental influencing factors, identify key drivers for change Industry: Five forces analysis, identify the...
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