Computer Science 1032A/B Lecture Notes - Lecture 4: Cost Leadership, Information System, Business Process

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COMPSCI 1032A/B Full Course Notes
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COMPSCI 1032A/B Full Course Notes
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The goal of business is simply to survive. Manage costs - not necessarily reduce but increase cost if higher return . Manage revenue - not necessarily increase but maintain steady revenue if market saturated . Describes how much output you get from each unit of input. To measure efficiency, you must be able to measure input and output. Describes how well you achieve your objective. To measure effectiveness, you must know what that objective is. Effectiveness - do the right things > know both, important for exam. The approach it takes forward competing in its industry, also influences its value chain. A company"s competitive strategy determines how it will try to use five competitive forces and how it will respond when other firms try to leverage them. The way a company"s value chain functions and the way it deals with competitive forces combine to determine its success.

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