BS3 - Strategy and Tactics
- Created by: 09eatonb
- Created on: 05-01-16 12:53
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- Strategy and Tactics
- Porters Five Forces
- Provides distinctive values to opportunities and threats of a business
- Intensity of Rivalry within the industry
- Bargaining power of buyers
- Threat of Substitute products
- Threat of New entrants
- Bargaining Power of Suppliers
- High profit industries are associated with...
- Weak suppliers
- Weak customers
- High barrier to entry
- Low rivalry in the industry
- Low threat of substitute products
- Low profit industries are associated with...
- Strong suppliers
- Strong customers
- Low barrier to entry
- High rivalry in the industry
- High threat of substitute products
- SWOT Analysis
- Opportunities
- Weaknesses
- Threats
- Strengths
- Types of decisions:
- STRATEGIC = general direction and overall policy of a business
- TACTICAL = medium term decisions used to implement strategic decisions.
- OPERATIONAL = general administration
- Who makes the decisions?
- The Senior Team e.g. the CEO
- Constraints on decision making
- Internal = e.g. company policy and availability of finance
- External = e.g the economic environment and legislation
- The decision making process
- 1. Identifying objectives
- 2. Collecting and analysing infromation
- 3. making a decision
- 4. Outcome
- 5. Evaluation of results
- Porters Five Forces
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