1. Environmental Analysis and Critical Success Factors.docx - BUS 111W Instructor Sofy Carayannopoulos Office Hours Friday 9:30 – 10:30 AM Room LH4046

1. Environmental Analysis and Critical Success Factors.docx...

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BUS 111W Instructor: Sofy Carayannopoulos Office Hours: Friday, 9:30 – 10:30 AM, Room LH4046 Email: [email protected] Link: laurierbiz.com Calendar on , Don’t email her during weekends Required Labs: 10% Assignments: Avoiding Plagiarism 2%, Case 22%, New Venture 22% Midterm: 20% Final: 24% Bonus Marks: - S.I. Sessions – 0.25 bonus for each one to max of 1.5 marks - Extra Pearson Quizzes – Up to 1 Mark% - Attendance at LAZICC Education Day* - 0.50% - Library research seminar* - 0.50% Table of Contents LECTURE 1: ENVIRONMENTAL ANALYSIS AND CRITICAL SUCCESS FACTORS Critical Success Factors Diamond-E Model External Analysis P.E.S.T Factors Porter’s five forces (PBSSI) Competitive Scope LECTURE 3: UNDERSTANDING ENTREPRENEURSHIP Entrepreneurship Three-Compenent Screening Process Accessing Resources LECTURE 4: TECHNOLOGY FACTORS Technology
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Lecture 1: Environmental Analysis and Critical Success Factors Critical Success Factors In order to achieve long-term success an organization must meet 6 critical success factors in order to succeed. One weak link refrains a business from maximizing all the other CSF’s. These include ( Remember FCQIED) : Achieving financial performance: What is it?: Profitability and having a cash flow to cover expenses Why is it important?: - Growth: Money is required for a business to survive and grow - Profitability: This not only includes the profit for today, but projects for the future, - Return on investment (ROI): The % return depends on how well the business is doing It relates to other factors because you can’t achieve the other ones without this a company can’t stay in businesses. Example: Tesla had initial funding; however majority of their expansion was due to positive cash flow from immediate positive reaction to their first few models Meeting customer needs: Definition: Giving your customers what they’re looking for. Consumer revenue leads to profitability. People do not always know what they need. You discover what your market wants and you give it to them or you can create their wants/needs by creating something. Meeting customer needs is important as: - Gain loyalty: If it is important, customers will remain loyal to you - Reduces marketing costs: No more need for marking with loyal customers In order to meet customer needs a business needs to: - Understand: A business should have a fair understanding of what the customer wants in their goods or services - Anticipate: Businesses need to implement ideas that consumers would never know about in order to fill market space that may be empty - Fulfill: A business should produce a good or service to a level of satisfaction from the customer
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Example: Microsoft recognized that many students still handwrite their notes, but in a time of digitizing almost all documents, they knew it would be beneficial to create a tablet (ex. Surface Pro) on which students can write their notes and upload them directly.
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  • Fall '18
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