MGT 3200 Lecture Notes - Lecture 2: Service Design, Internal Communications, Market Environment
Document Summary
Competitiveness helps determine whether a company prospers, barely gets by, or fails. Price, delivery time, and product or service differentiation. Identifying consumer wants and/or needs: price and quality, advertising and promotion. Successful competing requires what customers want and then directing efforts toward meeting (or even exceeding) customer expectations. The mission is the reason for a company"s existence, and it is express though its mission statement. Strategies are the roadmaps for reaching goals and focus on decision making. Functional strategies: relates to each functional area of the organization and should support the organizational strategies as the organization strategies should support goals and mission. Tactics are the methods and actions used to accomplish strategies and are more specific strategies and provide guidance and direction for carrying out actual operations. The most effective approach is one that develops customer needs as well as the competition.
