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7 Cards in this Set
- Front
- Back
Environmental changes
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are the roots of many business opportunities and problems. To succeed and stay successful, a company must continuously scan, analyze, and adapt to the ever-changing environment.
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5 enviromental forces
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1.social
2.economic 3.technolgocial 4.competitive 5.regulatory |
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most business start out as
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stars-hold
cash cow-harvest question mark-build dog-divest...you must build if you are question mark to become a star |
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Different ways for a company to grow and increase sales:
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1. Intensive growth – market penetration strategy, product development strategy,and market development strategy
2. Integrative growth – horizontal integration strategy, and vertical integration strategy 3. Diversification growth |
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Professor Michael Porter has proposed three generic strategies that form a good starting point for strategic thinking
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1.cost leadership
2.focus 3.differentiation |
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score
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has business plan templates taht we can use and download
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Planning is important, but it is not everything
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Good planning must be followed by good iplementation in order to achieve business success
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