MGT 3304 Chapter Notes - Chapter 6: Kraft Dinner, News Leak, Jiffy Lube

• School: Virginia Tech
• Department: Management
• Course: MGT 3304
• Professor: Anthony Cobb

Document Summary

Analyze the environment and the organizations resources (current reality assessment/swot) Formulate strategies (grand strategy ho(cid:449) the orga(cid:374)izatio(cid:374)"s (cid:373)issio(cid:374) is to (cid:271)e accomplished) Control process (feedback loop: adjustments may be necessary. Statement of purpose: (cid:862)to (cid:373)ake the (cid:449)orld"s i(cid:374)for(cid:373)atio(cid:374) u(cid:374)i(cid:448)ersall(cid:455) a(cid:272)(cid:272)essi(cid:271)le a(cid:374)d useful. (cid:863) Vision statement: (cid:862)to (cid:271)ri(cid:374)g i(cid:374)spiratio(cid:374) a(cid:374)d i(cid:374)(cid:374)o(cid:448)atio(cid:374) to e(cid:448)er(cid:455) athlete i(cid:374) the (cid:449)orld. Picture of what organization wants to become. Analyze the environment: gather competitive intelligence gai(cid:374)i(cid:374)g i(cid:374)for(cid:373)atio(cid:374) a(cid:271)out (cid:272)o(cid:373)petitors" a(cid:272)ti(cid:448)ities so that you can anticipate their moves and react appropriately. The public prints and advertising(press release, news leak) Investor information (securities and exchange commission reports, corporate annual reports) Informal sources (major trade shows, industry-gossip, tidbits of information from salespeople and marketers: swot analysis. Environmental scanning carful monitoring of an organizatio(cid:374)"s i(cid:374)ter(cid:374)al a(cid:374)d e(cid:454)ter(cid:374)al environments to detect early signs of opportunities and threats. Financial health, technologies, organizational culture, human resource skill, company image. Industry growth, new competition, social issues, labor availability: swot analysis example.