BU111 Lecture Notes - Knowledge Economy, Capital Intensity, Switching Barriers
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BU111 Full Course Notes
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Document Summary
Achieving financial performance: what is it: making a profit, is it just about making money: market share, grow profit, compare to your competitors, you earn a profit but that you are competitive and better then your competition. Meeting customer needs: providing good customer service, providing a good product, giving the customers what they want now and anticipating what they want, understanding your customers, related to achieving financial performance (meet customer needs = more money) Creating a distinctive competitive advantage: being better than the competition, a unique space among the competition that you can product/they cant imitate, holding patients, have more money, better employees, key supply component, maintain the advantage. Shows internal organization and the environment and the two are connected. Resource: financial, psychical and human resources, these determine what they are capable of doing (cant create products without a factory and people, bias of management determines what resources they acquires.
