BUAD 497 Week Two Notes
BUAD 497 Week Two Notes BUAD 497
Popular in Strategic Managment
Popular in Business Administration
This 2 page Class Notes was uploaded by Emily Laurienti on Friday September 2, 2016. The Class Notes belongs to BUAD 497 at University of Southern California taught by Prof. Michael Mische in Fall 2016. Since its upload, it has received 53 views. For similar materials see Strategic Managment in Business Administration at University of Southern California.
Reviews for BUAD 497 Week Two Notes
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 09/02/16
8.30.16 Sun Tzu and the Art of War Keep in mind clarity of purpose, goals, and your vision If the instructions are not clear, it is the fault of the general that orders are not followed. If the instructions are clear, it is the fault of the subordinates that orders are not followed Three premises o Know your enemy and know yourself o To win 100 battles is not skill, to win without fighting is o Avoid what is strong, attack what is weak You want to use as few resources as possible to capture the most territory It is more important to outthink your enemy than it is to fight him o What’s your goal? After you know your intent you can start to determine your strategy Indirect attacks may help you win more often than a direct attack How do you react to your competitors movements, and how do they react to yours? o Allowing your competition to establish themselves in your market and delaying your reaction is a huge mistake o Speed and efficiency count. A small company with few resources can overcome a large company when their strategy is better o Do not let operations override strategy o Do research into market before using employee assets 9.1.16 SOS—Sense of Self Must understand your mental condition at any point in time You don’t want your attitude affecting the people around you Ultimately, you need to understand that you’re responsible for consequences that go far beyond you How do we compete? Strategy is about creating, capturing, expanding, and defending. First you have to decide which you want to do What environment are you competing in? o Macroeconomic o Political o Cultural o National Where are you in the microenvironment? o Industry How do the macro and micro environments behave? o What drives the industry? o Identify the drivers of the industry External factors % change in GDP What’s the correlation of the industry to GDP? What’s the correlation of your company to GDP changes? What’s the impact of social media on your industry? Internal factors Value proposition o Quality o Price o Performance Differentiation Geography Buyers Suppliers/supply chain management Cost Understanding what drives your industry will tell you how to compete
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'