ADMN 3121H Lecture Notes - Lecture 4: Balanced Scorecard, Swot Analysis, Cost Leadership
30 Mar 2020
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Chapter 13 strategy, the balanced scorecard and profitability analysis. Business strategies value leadership: a strategy of developing and sustaining the unique characteristics of a product or service for which consumers will pay because there is a price inelasticity of demand. Leads to brand loyalty and the willingness of customers to pay high prices: product differentiation: a company"s ability to offer products or services perceived by its customers as being superior and unique relative to those of its competitors. Cost leadership: a company"s ability to achieve low costs relative to competitors through productivity and efficiency improvements, elimination of waste, and tight cost controls. Strategic analysis tools: swot analysis (strengths, weaknesses, opportunity, threats, porter"s five forces, strategy maps and balanced scorecard. T: threats: aims to identify the key internal and external factors seen as important to achieving an objective, swot analysis groups key prices of information into two main categories.
