BU111 Study Guide - Midterm Guide: Procter & Gamble, Switching Barriers, Capital Intensity
19
BU111 Full Course Notes
Verified Note
19 documents
Document Summary
The business environment is very dynamic and to be great you must adapt effectively. Models are used in business to show reality yet they simplify it. Top management; thinks about external and internal capabilities when thinking about critical success factors. Plan first, organize, direct, and then control. Achieving financial performance: profits, cash flow (even though you have profits, you must have the money to pay the bills; allow customers to pay later) Meeting customer needs: high customer satisfaction, up to date in trends, anticipating customer needs and understanding them. If you don"t the multiplier effect takes effect. (one person tells 10 others, and so on) or recurring revenue when you do meet needs. Encouraging innovation and creativity: the only way for companies to keep on succeeding you must continue to improve quality to keep with the market, doesn"t just mean the product improves, such as the supply chain.
