RMG 100 Lecture Notes - Lecture 1: Flat Organization, Risk Aversion, Competitive Advantage
2 Nov 2016
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Disorder results from: friction, uncertainty, fluidity. Perform differently or perform different activities than competitors. Subset of industry standard assortment: need based. Focus on different wants/needs: access based. Sustainability requires trade offs: more in one dimension, less on another. Strategy devise and maintain a clearly stated focused strategy. Execution develop and maintain flawless execution. Culture develop and maintain a working environment. Structure build and maintain a fast flexible flat organization. Objective scope advantage: objective is goal, scope is seeing options, advantage is noticing what your business excels in. Objective should be smart: specific, measurable (how will we know we will success, achievable, relevant, time bound. Scope includes what to and to not focus on: targets, geography, business model. Advantage is what your business does better. If your strategy is like others than you don"t have a very good one. Know what your customers want before they do. Next best offer: right merch or service, right moment, right price, right channel.
