BUS-K 201 Lecture Notes - Fall 2018 Lecture 3 - 3D printing, Business process, Digital Reality
Document Summary
K201 lecture notes: chapter 3 + chapter 4-2. Five forces model: five competitive forces determine industry. Bargaining power of customers: can customers strongly influence decisions. Threat of substitutions: threat of customers switching to different products. Bargaining power of suppliers: power of suppliers to influence consumers. Threats of new entrants: depends on whether the cost of entry to the market is low or high. How analysis of industry structure determines competitive strategy. Value: the amount of money a customer is willing to pay for a resource. Margin: the difference between the value an activity generates and the cost of the activity. Generic chain contains 5 primary activities and 4 support activities. Receiving, storing and demaning inputs to the products. Collecting, storing, and physically distributing the products to buyers. Inducing buyers to purchase products and providing a means for them to do so. Assisting customers" use of the products and thus maintaining/enhancing the products" value.
