wala lang Flashcards
french businessman
henri fayol
all managers perform five functions
- planning
- organizing
- commanding
- coordinating
- controlling
setting of goals, establishing strategies for achieving those goals and developing plans to integrate and coordinate activities
planning
arranging and structuring work to accomplish the organization’s goals
organizing
working with and through people, motivate subordinates, help resolve work group conflicts
leading
condition or ability that a firm has or able to do better than it’s competitors which puts the company in a favorable or superior business position
competitive advantage
anyone that can affect or be affected by the organization’s decisions
stakeholders
USP stands for
unique selling proposition
feature that distinguishes a product from its competitors
unique selling proposition
alsp known as KRAs
key results areas
also known as KRAs, are important elements of activity that must be performed well in order to achieve the goals or objectives of a business
critical success factors
the use of tools in evaluating the business performance for better formulation of strategies
core strategy tools
evaluates the internal and external environment of a business
SWOT Analysis
internal factors (5)
financial resources
physical resources
human resource
access to natural resources
current processes
employee programs, department hierarchy, software systems, sales and distribution are examples of
current processes
external factors (6)
- economic trends
- market trends
- national and local laws
- demographic characteristics
- relationship between suppliers and co-owners
- competitive threats
threats and opportunities are examined first before the strength and weaknesses, extension of swot analysis framework
TOWS analysis
local, national and international financial trends, development in the country’s stock market
economic trends
new products or technology evolving buyer’s profile
market trend
porter’s five forces of competitive position analysis
- rivalry among existing competitors
- threat of new entrants
- threat of substitute products or services
- bargaining power of suppliers
- bargaining power of buyers
identifies five forces that determine the competitiveness and attractiveness of a market
porter’s five forces
framework of macro environmental factors that are used when doing environmental scanning
pestle analysis
pestle stands for
P - political
E - Economic
S - Social
T - Technological
L - Legal
E - Environmental
screening of large amounts of information to anticipate and interpret changes in the environment
environmental scanning
