MGT 247 Chapter Notes - Chapter 1: Competitive Advantage, Organizational Culture, Strategic Management
Document Summary
Orientated to the present and the future. Concerned with conditions both outside and inside the firm. Defines core intent and the business or businesses in which it. Focuses on the markets the firms serves and the products it intends to compete provides: the picture of the firm as it hopes to exist in the future, effective visions informs about the firms strategy. Strategy= action plan designed to move an organization toward: external environment= set of conditions outside the firm that affect the firms achievement of its vision performance changes, changes in population trends, income levels, competition, economic. Implementing: rbv model, studying, identifying competitors, selecting, implementing. Examine the conditions in the firms external environment to asses how they influence the firm. Determine an attractive industry or segment of an industry. Choose the strategy called for the influences in the external. Use the firms resources to implement the chosen strategy. Determine what the firms resources allow it to do better than its.
