MGT 3830 : Exam 1 Study Guide
Document Summary
What do we want to accomplish ultimately: mission- description of what an organization actually does-what its business is-and why it does it; can be customer or product oriented. What are we about: values- ethical standards and norms that govern the behavior of individuals within a firm or organization. Ecological, legal: a framework that categorizes and analyzes an important set of external forces that might impinge upon a firm, structure-conduct-performance (scp) model- a framework that explains differences in industry performance. In many instances, two strategic groups are in an industry: low-cost strategy and differentiation strategy: mapping strategic groups: Choose 2 key dimensions for the horizontal and vertical axes, which expose important differences among the competitors. The dimensions chosen for the axes should not be highly correlated. A firm can gain a competitive advantage if it has resources that are valuable, rare, and costly to. Implement feedback and organizational learning in order to modify and adapt strategic goals when indicated: disadvantages:
