BU481 Lecture Notes - Lecture 1: Bargaining Power, Human Resource Management, Switching Barriers
Document Summary
I(cid:374) order to pi(cid:272)ture a fir(cid:373)s" (cid:272)urre(cid:374)t strateg(cid:455), (cid:455)ou (cid:373)ust (cid:272)o(cid:374)sider its: Goals-what is the organizations purpose, what are its aims in respect to growth, profitability, and risk. Product market focus- what products/services does the firm sell and to what specific markets. Value proposition- how does the business intent to attract customers, what bundle of (cid:271)e(cid:374)efits (cid:272)o(cid:374)stitutes its (cid:862)offer(cid:863) Core activities: what are the primary value- adding activities that the business intends to perform and how does it intend to perform them. Provides a base point for organizing and discussing your knowledge of what a business is all about which you can then use as a starting point when analyzing and debating choices of future direction. Strategy puts your interpretation of vision, mission, and values in a sensible framework that can be sued to reinforce continuity where appropriate and to drive change where necessary.
