MGMT 1000 Study Guide - Final Guide: Procter & Gamble, Externality, Spotify

• School: University of Guelph
• Department: Management
• Course: MGMT 1000
• Professor: Trent Tucker

Document Summary

Business model: describes rationale of how organization creates, delivers & captures value: customer segments: different groups of people or organizations company aims to reach/serve. Channels have five distinct phases: awareness, evaluation, purchase. 2: delivery, after sales, customer relationships: describes types of relationships a company establishes with specific customer segments. Activities vary depending on type of company: production: making product in substantial quantities or superior qualities, problem solving: coming up with solutions to companies problems, platform/network, key partnerships: describes partners that make business model work. Distinguish between four different types of partnerships: strategic alliances between non-competitors, coopetition: strategic partnership between competitors, joint ventures, buyer supplier relationships: help to assure reliable solutions. 3: optimization & economy of scale, reduction of risk & uncertainty, acquisition of particular resources & activities, cost structure: costs incurred to operate business model. Two broad classes: cost driven: minimizing costs, value driven: value creation. Four broad classes: social costs, social benefits, environmental/ethical costs, environmental/ethical benefits.