250_Notes_2a

250_Notes_2a - o Bargaining power of suppliers...

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ACCT 250 – ACCOUNTING FOR DECISION MAKING NOTES – CHAPTER 2A SPRING 2008 SUMMARY Here we examine SWOT analysis, a strategic tool and discuss the transition from strategy to execution. NOTES 1) SWOT analysis – Planning the work A very useful tool for identifying critical success factors a) Strengths and Weaknesses Internal analysis of the firm’s resources o Product lines o Management o o Operations o Marketing o Strategy Strengths = skills and resources that the firm possess in greater abundance than competitors Core Competencies = skills the firm employs especially well b) Opportunities and Threats External analysis of the firm’s industry and competitors o Barriers to entry 8c5bcee85f000cb689372b8d47786082d92f0914.doc PAGE 1 OF 2
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ACCT 250 – ACCOUNTING FOR DECISION MAKING NOTES – CHAPTER 2A SPRING 2008 o Intensity of rivalry o Substitute products o Bargaining power of customers
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Unformatted text preview: o Bargaining power of suppliers Opportunities = favorable situations in the firms environment creating an advantage for the firm vs. its competitors c) Critical Success Factors (CSFs) Outcome of the SWOT process, CSFs = the things most critical to success Often called value propositions = why customers see value in the firms products and/or services o CSFs should align with strategy (i.e. differentiation or cost leadership) Goal is to find a way to measure these CSFs => Balanced Scorecard (BSC) 2) Execution Working the plan SWOT => Strategy and CSFs CSFs => objectives = what people are working to achieve Firm may have great strategy, but this means nothing without execution o Must have both Strategy & Execution to be effective 8c5bcee85f000cb689372b8d47786082d92f0914.doc PAGE 2 OF 2...
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250_Notes_2a - o Bargaining power of suppliers...

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