BU111- Midterm Exam Guide - Comprehensive Notes for the exam ( 15 pages long!)

• School: WLU
• Department: Business
• Course: BU111
• Professor: Sofy Carayannopoulos

Document Summary

Those factors and attributes that companies have ongoing success. Your strategy is the plan ( what you do and do not want to do) You can adjust your strategy on your environmental conditions, that is the main piece to focus on because you cannot change the enviirpnemt, you have work around them (ex. Pest, industry forces, laws, social factors, society, demographics) There is also a speci c environment based on your industry, every industry is di erent (ex. the soft drink industry is di erent from the bank industry) Your vision and vision is what makes the strategy become a reality. Therefore your internal organization is what originates these plans and steps to become successful. Strategy: the plan the business uses to pursue opportunities and achieve csf. The critical link variable between organization and environment. Consistency internally leads to performance alignment external ensures strategy right for the given environment.