MGT 3830 : MGT3830 Exam1 Review
Document Summary
It is important to the firm"s overall value. Strategic assessment -> strategic implementation -> strategic formulation. Fit: vision, values, and goals, competitive environment, resources and capabilities, strategic position. Vision - what future to stimulate progress toward . Core purpose - establishes a reason for being. Main purpose of a business is to make money and maximize shareholder value. Not main mission of every company (non-profit) Sets the horizon - orients point of view. People who look too close in front of them when driving tend to swerve. Sight, future, perceptions of others (competitors, suppliers, government, etc. ) Values - essential and enduring principles of an organization . Core ideology - what we stand for and why we exist (core values and core purpose) Independent of current environment, competitive requirements, products, or management fads. Products values are not product specific (where people make the most mistakes in the class) A disconnect between what the firms doing and what they claim to be.
