BU111 Lecture Notes - Lecture 2: Ikea, Kodak, Human Resources

• School: WLU
• Department: Business
• Course: BU111
• Professor: Leanne Hagarty

Document Summary

Identifies key variables to be considered in strategic analysis. Management preferences the management determines decisions being made based on bias, opinions and poses risks. Organization the actual organizational structure of a business (different divisions). What your company is actually able to do (culture, capabilities, structure & leadership style) Resources human resources, capital/long-term assets (buildings, machines), financial resources (cash, access to credit, ability to attract financial resources) (hr, capital. Strategy plan businesses use to pursue opportunities and achieve csf (critical success factors) The critical linking variable in the model (strategy links the outside and inside components (management preferences, organization and resources with strategy and environment) Determines and is determined by internal qualities. Any variable can either drive or constrain. Principle logic consistency or alignment: consistency internally leads to performance, alignment externally ensures strategy right for the given environment, warning: environment is always changing.