ECON101 Study Guide - Midterm Guide: Target Canada, Customer Satisfaction, Ikea

• School: University of Waterloo
• Department: Economics
• Course: ECON101
• Professor: Olivia Mesta

Document Summary

Identifies key variables to be considered in strategic analysis. Includes management preferences, organization, strategy, resources, and environment (pest, Strategy: the plan the business uses to pursue opportunities and achieve critical success factors, determines and is determined by internal qualities, any variable can drive or constrain the strategy, the critical linking variable in the model. Strategy-environment linkage: first task: deal with the strategy-environment linkage, assess forces at work and their implications, adjust internal capabilities or adjust strategy. Each variable impacts and is impacted by the rest: alignment externally ensures strategy is right for the given environment, as the environment is always changing, we must check: Importance of consistency between variables: target canada is a (cid:373)odel of i(cid:374)(cid:272)o(cid:374)siste(cid:374)(cid:272)y; it failed (cid:271)e(cid:272)ause it did(cid:374)"t (cid:373)eet the (cid:374)eeds of. It (cid:373)ostly took o(cid:448)e(cid:396) e(cid:373)pty zelle(cid:396)s lots: they"(cid:396)e du(cid:373)py, u(cid:374)f(cid:396)e(cid:395)ue(cid:374)ted (cid:271)y (cid:373)iddle- class customers.