MBA NOTES:WHAT IS FACTOR IN STRATEGIC MANAGEMENT

WHAT IS FACTOR IN STRATEGIC MANAGEMENT

WHAT IS BUSINESS FACTORS
DEFINITION:
ANY REASONS DUE TO THIS YOUR BUSINESS INCREASE OR DECREASE IS CALLED THE BUSINESS FACTOR

EXAMPLE:
SUPPOSE YOU ARE A MILK SUPPLIER AND YOU ARE ONLY ONE SUPPLIER IN THE MARKET BUT A NEW SUPPLIER COME IN THE MARKET

THE NEW COMPETITOR IS A FACTOR FOR YOUR BUSINESS

BECAUSE WHEN ONLY ONE YOU ARE IN MARKET AND ALL CUSTOMER COMES TO YOU BUT AFTER THE NEW SUPPLIER COMING THE CUSTOMER ARE DIVIDED AND SOME COMES TO THAT SUPPLIER  AND SOME COME TO YOU AND YOUR BUSINESS IS DECREASE

BUSINESS FACTORS DIVIDED INTO TWO TYPES
1 INTERNAL FACTORS
2 EXTERNAL FACTORS

INTERNAL FACTOR
THE FACTOR THAT EFFECT INSIDE THE ORGANIZATION

EXAMPLE
MANAGEMENT

EXTERNAL FACTORS
THE FACTORS ALL OUTSIDE THE ORGANIZATION ARE EXTERNAL FACTORS

EXAMPLE
SOCIAL, COMPETITORS, POLITICAL
WHAT IS VISION STATEMENT
WHAT IS MISSION STATEMENT
WHAT IS OBJECTIVE
KEY TERM OF STRATEGIC MANAGEMENT
WHAT IS FACTOR IN STRATEGIC MANAGEMENT
PITFALL,DRAW BACK IN STRATEGIC MANAGEMENT
TYPES OF STRATEGIES


MBA NOTES