MGT 3501 Lecture Notes - Lecture 15: Super Bowl
Document Summary
How well you execute your strategy will determine whether your company is successful or not. 30% of new businesses fail in the first 2 years. 50% fail during the first 5 years. 66% fail during the first 10 years. Difficult to start a company and sustain the success past a decade. This requires an integrated effort between all parts of the company. Sales, product development, manufacturing, supply chain, logistics, quality control, finance, etc. Ends with an operational plan on what resources are needed to meet the demand. When do you invest in expansion, new equipment, more employees, etc. Try and quantify as much decision making as possible, but even that does not guarantee success. Not always based on reality, only your perceptions. Start with reason, gathering facts and figures to determine decision. Management uses product pricing to manage demand. Price can be optimally set for various customer groups. Can set different pricing for different customer groups.
