[BU111] - Final Exam Guide - Comprehensive Notes for the exam (45 pages long!)

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

Document Summary

Strategy: the plan the business uses to pursue opportunities and achieve csf (critical success. Mission: how you will achieve the vision present to future. Guides strategy by listing broad goals and acceptable approaches which keeps us on track. Mission statement is an overall goal that provides a path and guides decision making. Vision: guides strategy by keeping focus on desired future and aligned with organization values. Critical success factors: achieving financial performance: business is sustainable and cash flow is positive achieving profit, meeting customer needs: understand the customer market and anticipating needs. You must understand what they want in products and services provided. You can also attract potential buyers which will increase revenue for your company. Adds values for the customers and they must be willing to pay for it: building quality products and services: bang for your buck and build products that reflect consistency to trust the brand.