BISM1201 Lecture Notes - Lecture 2: Value Chain, Supplier Relationship Management, Human Resource Management
1 Aug 2018
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Lecture 2: introduction to business process management (bpm) Values are the core of an organization"s existence. For example: customer satisfaction (cinemas, safety (airplanes, cost efficiency (some restaurants, high product quality (iphone) 3 models by michael porter: 5 forces model. It analyzes an organization competitiveness and design general strategies. The goal of porter is to minimize the supplier and buyer power. Porters says that if you have a good knowledge of these 5 forces you have a very good knowledge of the whole sector. Bargaining power of suppliers when you are the only one that sells something. If you are the only one who sells coffee, you can put the price very high because the other company is going to buy it anyway as they need it: competitive strategy model (cost leadership vs. differentiation) It means that your fundamental goal is to make stand out for other reasons instead of low costs. (is in business).
