BU111 Study Guide - Midterm Guide: Critical Success Factor, Customer Switching, Business Process Management
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BU111 Full Course Notes
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Six critical success factors: achieving financial performance: Not only do you earn a profit, but you are competitive in that sense. Investors will compare your financial performance to competitors: meeting customer needs: Providing the best customer service, good quality product. Giving your customers what they want; not only now, but determine wants/needs customers didn"t even know they had: building quality products and services: Setting standards for the quality you"re providing and meeting it consistently. Give customer value for their dollar, meets customer expectations. Need to do this in order to achieve financial performance: encouraging innovation and creativity: Creating products for the future, anticipating what customers want and creating their wants: gaining employee commitment: They love working for you and are proud, don"t want to leave, like seeing customers satisfied. Treat employees with respect and give them incentives: creating a distinctive competitive advantage: Having uniqueness so no one can imitate you.
