BSM 100 Lecture Notes - Lecture 5: Swot Analysis, Complete Control, Bargaining Power
24 Nov 2017
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Gov should intervene asap bc snowball effect (wait too long, ppl will stop looking for new opportunities, etc) Trying to get competitive advantage over long period of time for 1 product. Within time period, 2-3 years (doesn"t look too far down road) bc very dynamic and strategy needs to evolve/be flexible. ), mission statement (this is what we do), seek input from folks (bottom-up approach, good sense of market and what to do), Develop jobs, assign responsibilities, establish checks and balances (if business doesn"t operate in way u aspect, can adapt to it. Forces u to be flexible, forces u to think and address conflicts, make the business better), vision needs to inspire (creativity) Swot analysis (internal view: strengths/weaknesses, external view: threats/opportunities) Swot analysis not relevant for new firm bc they haven"t been existing for long so they don"t know strengths, etc. Clear about market/customers scope, product scope, geographic scope and unique competencies.
