BSM 100 Lecture Notes - Lecture 5: Scenario Planning, Competitive Intelligence, Swot Analysis

• School: Ryerson University
• Department: Business Essentials
• Course: BSM 100
• Professor: Ranjita Singh

Document Summary

Corporate strategy is for the firm as a whole (different from competitive strategy) Determined by the executive team/head of the department. Competitive strategy is lower down in the corporation. Determined by individual departments that are divided by product groups where they determine their own individual competitive strategy. If all departments collaborate together they are talking about corporate strategy. Marketing is very important = they are the front line. They bring in a lot of info to help develop the competitive strategy. What they are putting into the market. Must have a structured goal that you can build a plan to attain. Success implies that you are going to reach your goal. How long is it going to take to reach the goal. Can the goal be met in the time allotted. 12 months to 3 years is a normal time span. Goal must keep changing and adapting to keep the company moving forwards once the initial goal has been attained.