COMM 103 Chapter 1: Chapter One COMM 103.docx

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View business as a system of intergrated actions. Different areas: technology application, product engineering and design, manufacturing and operations, marketing and sales, distribution, and service. Commerical endeavours: markets which the organization serves, the products and services which it offers, and the needs which it professes to meet in the marketplace. Reflects the results of understanding the demand/supply relationships which exist in the marketplace and the capacity and capabilities of each of the competitors within such a market to deliver products/services to its buyers. Employee interaction: value-creating skills which an organization"s employees bring to the marketplace. With the employees, products are made and sold=profit=company succees. Organizational efficiency & structure: reflection of the complexities of the business activities which circulate within an organization. Reflective of the development of the infrasture and its related culture=organization creates. Also shows the transaction processes which it develops in order to service the marketplace it targets. A business model is built around four core fundamental resource areas.

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