COMM 1800 Lecture Notes - Lecture 3: W. M. Keck Observatory, Profit Margin, Anatomical Terms Of Motion
Document Summary
August 30- understanding the process of creating value. Plan- set goals and plan how to create more value. Execute- systems to operate business, following plans. Review- using systems to compare desired outcomes to actual results. Functional or operational middle managers (plant manager. Gates- taking care of employees and a vision of a comp. Managers combine things to operate business and create value: Return= net benefits during a period/ price paid at beginning of period. Risk= uncertainty of something happening that hurts value. Risk- receive less benefit than you expect. Customer value proposition- way to help customers get a job done . Blueprint that defines how a company creates value for itself (owners) while providing value to the customer. Revenue model- price of product x times the volume sold. Cost structure- driven by cost of key resources required by business model.