BUSMHR 3510.01 Lecture Notes - Lecture 1: Ikea, Nordstrom, Rolex
5 Apr 2016
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Bound to change over time ex: computer industry. Project how many computers they"ll be able to sell. In hands of customer how business models emerge have to be sure of: Determined a lot about the restaurant including pricing and menu items. Brought in consultant and came out with mission statement enjoy their total dining experience so that they can"t wait to come back . Can do anything in their power to make that possible first thing to think about is what is your mission statement? . Novelty to people who aren"t from west coast. Have to differentiate yourself somehow (price, quality, etc) Price is very difficult point of differentiation, someone will come in and cut the price. Asset unique to company no one else can get. Like a reputation importance of a business model: Serves as ongoing extension of feasibility analysis, does this business make sense .
