BU111 Study Guide - Midterm Guide: Competitive Advantage, Normal Good, Global Industry Classification Standard
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BU111 Full Course Notes
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Need to know critical success factors and explain them, why is each one important, how are they interconnected, why must you pursue all of them. Be able to recognize critical success factors when they come up in examples i. e. joes java, studio celtia, high tech bar top. Remember that csf works in all ways together, they are all interconnected in different ways no one more important than the other. Ex/ meeting customer needs leads to financial performance and financial performance leads to meeting customer needs. External environment in diamond-e is pest and porters 5 forces. Being able to list diamond-e is not enough. Consistency internally leads to performance only if there is an alignment between strategy and the environment. A two way relationship exists where if your strategy isn"t consistent with the resources then it will not work. Variables in the diamond-e can either constrain or drive a strategy.
