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BPL 5100 CHAPTERS 1-6 | 2024 COMPLETE SOLUTION RATED A+
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BPL 5100 CHAPTERS 1-6 | 2024 COMPLETE SOLUTION RATED A+
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BPL 5100 CHAPTERS 1-6 | 2024 COMPLETESOLUTION RATED A+
Studying the total business enterprise/Broad topics (Chapter 1) - Environmental
Forces:
Macro-economic
Industry competitive
Firm:
Managers/Strategists
Decisions and actions
Effective leadership
Resources
Capabilities
Org. culture
Strategy (Chapter 1) - Tactics the govern an individual to make wiser decisions
Goals of an organization (Chapter 1) - Firms manage their resources, competitive
environment effectively
while managing their resources
Competitive advantage - A strategic edge a firm has over its rivals. It has to hold a
dominant market position, resource capability, and sustainability
What are 5 indicators of a successful firm? - 1. Profitability
2. Efficiency
3. The size of the firm
4. Innovation frequency
5. Survival
Diagram to be drawn (Chapter 1) - External Environment:
Macro Environment
Industry Environment
Mission, Analysis of the Context-->Internal Environment
Strategic Choice, Strategy Implementation, Strategic Control-->Feeback
Reactive vs. Proactive approach (Chapter 1) - Strategies should be formulated based
on "organization-environment fit" using SWOT analysis.
, Deliberate vs. Emergent approach (Chapter 1) - Carefully planned strategic alternatives
ignores the fact that a planned strategy could
overlooked lucrative strategies
Strategic leadership (Chapter 1) - Process of creating well considered tactics to
communicate a vision for an organization while motivating staff for change
Mission NStatement N(Chp. N2) N- N NAn Noverall Nvision Nthat Nparticular Nfirm Ntries Nto Ncapture Nto
Nthe Noverall Nmarket
Well-Stated NMission N(Chp. N2) N- N NClear Nfocus Non Nstrategic Ndecisions Nand Nacceptable Nto
Ninsiders Nand Noutsiders Nof Nthe Nfirm. N
Having None Nis Nuseful, Nbecause Nemployees Nhave Na Npurpose Nto Nfollow Nand Ndecision
Nmaking Nis Nclearer. N
They Ncan Nchange Nif Nthey Ndon't Nfollow Nthe Nvision Nand Nhas Nto Nbe Nacceptable Nto Nall.
4 Ncomponents Nof Na Nmission N(Chp. N2) N- N N1. NTask
2. NVision
3. NValues/Beliefs
4. NGoals/Objectives
Categories Nof Nstakeholders N(Chp. N2) N- N N1. NEmployees N
2. NManagers
3. NStockholders
4. NCustomers
5. NCommunities N
6. NSuppliers
Primary Nand NSecondary NStakeholders N(Chp. N2) N- N NPrimary:
Shareholders
Management
Partners
Secondary:
Banks N
Government
Competitors
Corporate Ngovernance N(Chp. N2) N- N NThe NBoard Nof NDirectors Ndirects Nand Nsteers Nthe
Nactivities Nof Nthe Ncorporation Ntruthfully Nand Nethically, Nthrough Nan Nobjective Nan
Nindependent Nmanner. NSenior Nmanagers Nare Ngoverned Nbecause Nthey Ngive Nan Nimage
Nof Nthe Nfirm
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