BSM 100 Lecture Notes - Lecture 5: Customer Satisfaction, Swot Analysis

• School: Ryerson University
• Department: Business Essentials
• Course: BSM 100
• Professor: Ranjita Singh

Document Summary

Strategy for the firm as a whole: e(cid:454). Competitive strategy: what is the future of the iphone, bottom-up approach (ex. People who work in the factory give input) Improvement: creativity (important for the r&d team to hear as well; leading-edge firm, collaborative (culture, creativity, working well with everyone, encouraging comfort and collaborative environments, ability to use and retain talent. Strategy: plan of action to reach the goal (within a time period, usually 2-3 years) In a nutshell, you must have an advantage over competitors. Implementation is just as important as creativity and thinking of new ideas for the future. Identify key success factors create objectives analyze the competition. Mission the reaso(cid:374) for a(cid:374) orga(cid:374)izatio(cid:374)"s e(cid:454)iste(cid:374)(cid:272)e (cid:894)ide(cid:374)tit(cid:455)(cid:895: google (cid:373)issio(cid:374): orga(cid:374)ize the (cid:449)orld"s i(cid:374)for(cid:373)atio(cid:374) a(cid:374)d (cid:373)ake it u(cid:374)i(cid:448)ersall(cid:455) a(cid:272)(cid:272)essi(cid:271)le a(cid:374)d useful. Important for investors, current customers, potential customers, and potential employees: test of the (cid:373)issio(cid:374): ho(cid:449) (cid:272)losel(cid:455) orga(cid:374)izatio(cid:374)"s stakeholders (cid:894)(cid:272)usto(cid:373)ers, e(cid:373)plo(cid:455)ees, (cid:272)o(cid:373)(cid:373)u(cid:374)it(cid:455), suppliers, shareholders) identify with it.