DECS-310 Lecture Notes - Lecture 3: Market Environment, Internal Communications, Balanced Scorecard
Document Summary
Lo2. 1- list several ways that business organizations compete. Lo2. 2- name several reasons that business organizations fail. Lo2. 3- defines the terms mission and strategy and explains why they are important. Lo2. 4- discusses and compares organization strategy and operations strategy and explains why it is important to link the two. Lo2. 5- describes and gives examples of time-based strategies. Lo2. 6- defines the term productivity and explains why it is important to organizations and to countries. Cold hard fact: better quality, higher productivity, lower costs, and the ability to respond quickly to customer needs are more important than ever, and . Chapter focus: this chapter focuses on three separate, but related ideas that are vitally important to business organizations, competitiveness, strategy, productivity. Identifying consumers wants and/or needs: pricing and quality, advertising and promotion. Businesses compete using operations: product and service design, cost, location, quality, quick response, flexibility, supply chain management.
