The 5 critical success factors
- Encouraging creativity and innovation
- Gaining employee commitment
- Providing value - quality products at a reasonable price
- Meeting and exceeding customers’ needs
- Achieving financial performance
SWOT analysis
A SWOT analysis looks at the Strengths and Weaknesses of the company itself and the Opportunities and Threats for the company in its external environment
Porter’s five forces model
A model that focuses on the five forces that shape competition within an industry
Industry life cycle model
A useful tool for analyzing the effects of an industry’s evolution on competitive forces
What are Porter’s five forces?
- The risk of new entry by potential competitors
- The degree of rivalry among established companies within and industry
- The bargaining power of buyers
- The bargaining power of suppliers
- The threat of substitute products
What are the five stages of industry evolution?
- Embryonic
- Growth
- Shakeout
- Mature
- Declining
Vision statement
A clear, concise picture of the company’s future direction in terms of its values and purpose that is used to guide and inspire
Mission statement
A clear, concise articulation of how the company intends to achieve its vision - how it is different from its competition and the keys to its success
Pro forma financial statements
Projected financial statements of future values
