BU111 Lecture Notes - Lecture 4: Business Process Management, Microbrewery, Pest Analysis
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BU111 Full Course Notes
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Internet- affects buying, selling & communication: opportunities and threats. Business implication: affects what we produce/what it can do, affects how we produce and how we sell. ** emerging challenges and opportunities: outsourcing, social media and viral marketing, business process management. Make notes and identify challenges/ opportunities and their implications. New company creating and providing beer in kegs to restaurants in waterloo: T: storage; refrigerators, coolers, etc, using social media for promotion towards restaurants to buy the company"s beer, technologies used to create the beers and different flavours. Buyers: caveat: power and influence of each force will vary by industry. Rivalry among existing firms- who sells something very similar to you: results in price competition, lower volume, increased costs. More intense level of rivalry because there"s no switching costs keeping customers hooked. Create switching costs or increase them so it"s hard for customers to walk away (ex. phone contracts for 2 years)
