MKT 702 Lecture Notes - Knitting, High Tech, Customer Satisfaction
Document Summary
Excellence became part of the business lingo in the 80s. N. a. business suffering at hands of imports especially japanese and german. Many us firms lost market leadership position. Researchers studied successful us and foreign co"s to discover/identify traits. Search for excellence based on co"s that had consistent financial success in the long haul then attempted to uncover common traits i. s. management practices strategies. Most common trait financial commitment to planning and the planning process. Cuts across whole organization facilitates decision making: planning process. Stimulates entrepreneurial thinking: corporate value stem. Numerous different studies some general, some industry specific. Best known search for excellence peters and walters. Studied 62 co"s that displayed superior performance consistently from 1961-80. Excellence measured on 6 criteria for long term financial success: compound asset growth, average return on capital, compound equity growth, average return on equity, average ratio market/book value, average return on sales. These co"s shared 8 characteristics: basis for action get on with it!
