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- Internal factors relate to aspects within an organization that are generally controllable, such as its value system, mission/objectives, management structure, human resources, image/brand equity, physical assets/facilities, R&D capabilities, marketing resources, and financial resources. - Key internal factors include the organization's value system, human resource skills/quality/morale, management structure (centralized vs decentralized), relationships between board members and CEO, and HR policies around employee retention, training, and disputes. - Internal factors have a direct impact on the organization and its performance.
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The focal point is between Strategic Management and
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The document discusses topics related to entrepreneurial innovation that will be covered in an academic course, including:
- Defining entrepreneurship and an entrepreneur's role in innovating and taking risks.
- Characteristics, importance, and process of entrepreneurship.
- Classifying entrepreneurship into social, small business, and large company types.
- Explaining innovative entrepreneurship and its importance in adapting to markets.
- Key skills, tips, and types of innovative entrepreneurs.
EntrepreneurShip
The document provides information on running a business successfully, including:
- Key topics that will be covered are the meaning and definition of business, factors for business success, how to run a business, and tips for a successful business.
- Some of the most important factors that can impact business success are market demand, building the right team, leadership preparation, networking, competitive analysis, pricing strategy, and long-term goals.
- To run a business well requires skills like great marketing, drafting a clear business plan, innovating, developing a strong company culture, focusing on financial goals, refining processes, using the right tools, and having a support system. Maintaining organization, records, creativity, focus,
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This document provides an overview of topics related to setting up a business, including the meaning and definitions of business, objectives of business, forms of business organization, and how to set up a business. It discusses the economic and social objectives of business, and covers factors that influence business like marketing, human resources, production, accounting, and external factors. It also describes the main forms of business organization like sole proprietorships, partnerships, corporations, and limited liability companies. Finally, it outlines the key steps to setting up a business, such as conducting market research, writing a business plan, finding funding, choosing a location and structure, and marketing the business.
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E-commerce allows businesses to reach more customers globally, lower costs, and provide benefits to customers. Key features of e-commerce include a wide variety of products available, lower costs than traditional retail due to reduced overhead, and convenience for customers to shop anytime from anywhere. Businesses can gain new customers through search engine visibility, lower overall costs by reducing expenses like real estate and personnel, and provide customers advantages like easy product searches, comparison shopping, and deals. E-commerce allows for targeted communication with customers based on their interests and past purchases.
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The document discusses various topics related to marketing such as definitions of marketing, goals of marketing, concepts of marketing including the production concept, product concept, and marketing concept, approaches to marketing including the commodity, institutional, and functional approaches, nature and scope of marketing, and functions of marketing. It provides an overview of fundamental marketing principles and frameworks.
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- 2. ⦿Divya Dalwani 07 ⦿Maitri Devi 10 ⦿Bhumita Sarabhai 46 ⦿Harshil Shah 49 ⦿V atsal Shah 55
- 4. ⦿It relates to all aspects within the boundaries of the organization and generally are within the control of top management team. ⦿Direct impact ⦿Controllable by the company ⦿Alter or modify
- 5. ⦿Value system ⦿Mission & objectives ⦿Management structure and nature ⦿Human resources ⦿Company image and brand equity ⦿Other factors: • Physical assets and facilities • R & D and technological capabilities • Marketing resources • Financial resources
- 6. • Value System of founders and those at the helm of affairs has important bearing on • Choice of business: • Mission • Objectives of the organization • Business policies and practices
- 7. Factors ⦿ Organizational structure ⦿ Composition of the Board of Directors ⦿ Extent of professionalization of management
- 10. ⦿Support to Top Management from other Stakeholders ⦿Relationship between Members of BOD ⦿Relationship between CEOs ⦿Relationship between BOD and CEO
- 11. The characteristics of the human resources like skill, quality, morale, commitment, attitudes etc. could contribute to the strength and weakness of the organization. The involvement, initiative etc. of the people at different levels may vary from organization to organization.
- 12. ⦿V arious HR policies ⦿Employee retention techniques ⦿Selection criteria ⦿Training and development ⦿Disputes ⦿Public relations ⦿Issues: selecting right people, offering competitive compensation packages and payroll taxes
- 13. ⦿Describes the purpose ⦿Serve the needs of customers ⦿ Identifies various intents of the company ⦿Answers various questions
- 14. ⦿Reputation of the company ⦿Important dimension ⦿Value premium ⦿ Memorable, recognizable and reliable
- 15. 1) PHYSICALASSETS AND FACILITIES : • Inventories • Cash • Equipment • Properties owned by the business JUST IN TIME POWER PLANT
- 16. 2) R/D AND TECHNOLOGICAL CAPABILITIES : Advantage : Disadvantage : High cost involvement Long time scale Uncertain outcome • Competitive edge • Enhance brand and reputation • Overseas market • Increase profitability
- 17. 3) MARKETING RESOURCES : • Marketing Research • Channel Management (Intermediaries) • Marketing Strategies.
- 18. • Procurement Of Finance. • Meeting working capital needs. • Allocation of finance.