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CHEATSHEET.docx

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Department
Commerce
Course
COMM 310
Professor
All Professors
Semester
Spring

Description
PHASE 1 DESCRIBE Competitive advantage firms earn supranormal profitsprimary competitive strategy cost leadershiplower cost broad target cost leadership narrow cost focus differentiation b diffn n diffn focusPorters 5 Forces describe key playersforces company must deal with focuses on threatsopp change balance of power btwn org and comphigh when 1 Bargaining power of supplier few suppliers differentiatedunique high switching cost 1 product to another geographic proximity forward integrate eg mv studios own theatres 2 BP buyer concentrated buying power undifferentiated commodity unimportant backward intg airplanecatering 3 Threat of substitute low switching cost inclinedpropensity to use substitutes 4 New entrants low barrier to entry regulation patents economy of scale capital requirement brand switching 5 Rivalry many comp of equal sizepower slow industry growth lack differentiationswitching cost market power IT Roles and Strategic Grid increases current operations or future competitiveness Str Impact Existing Under Development impleastFactory HL Turnaround LH Strategic HH Support LL B2B80 B2C20 EBusiness internet for org communication and management of firm ECommerce buysell GS electronicallyBiz ModelPS comp advantage org devl mgmt teamValueProposition how companys ps fulfills needs of customers eg personalization price reduction product delivery Revenue Model revenueprofitreturn on invested capital advertising subscription affiliate sales revenue transaction feePHASE 2 ANALYZE Value Chain Model view an organization as series of activitiesprocesses gain comp adv by doing 1more than competitors Primary Activities directly related to productiondistribution of firms PS1 Inbound Logistics acquire materials material handling inventory control deliver supplies warehouse activities 2 Operations schedule operations assemble parts manufacture productsdelivery service efficiency of plant layout and workflow design production inventory information systems that help forecast and monitorinputtransformationoutput 3 Outbound Logistics distributionshipping of finished GS finished goods warehousing 4 MarketingSales Mkt research identify opp understand customer needs DevelopingMaintain Mkts promoads pricing strategy distribution channels 5 Customer Service seek customer input for product improvement handle complaints warranty replace parts and repair services Support Activities make primary activities possible1 Procurement of Resources develop alternative sources of input procurementacquire of raw materialsplantmachinerybuilding facilitate LT rel w suppliers 2 Technology Development rel bw RD personnelother dept work env that encourages creativityinnovation 3 HR Mgmt recruit train promote all levels of employees reward systems challengemotivate safe productive professional environment participation 4 Firm Infrastructure adminmgmt coordinate activities in value chain timely and accurate mgmt firms need to align IT strategies to diff strategic choices Supply Chain Mgmt SCM efficiently integrating supplies manufacturers warehouses retail stores in order to deliver products to final customers ie planning organizing and coordinating all SC activitiesComponentsinboundoutbound logistics purchase distribution planning transportation planning inventory management demand planning predict demand for PS based on forecast supply planning how to meet demand based on available inventorydistribution facilities production planning scheduling materialcapacity mgmtObjectivesreduce costs distribution inventory unused materialsproducts assure availability for endcustomers right product acceptable time for producing links right component needed quantity on timeProblemsinfo lag long time downstream not shared with SC lead times no one wants to hold inventory stockouts cause delay emergency small volume shipping pricey supplier wants large quantities long run maximal commitment by buyers buyers vv IT and SCM gathering information customer demandPOS flow materialsgoodsRFID sharing info automated communication SCM sites using info forecast demand discover scheduling patternsPHASE 3 HANDLING BIZ DATA Database hold search for tell info link pieces of dataDatabase Mgmt System DBMS organized collection of logically related software reduce excess data controlled sharing reduce data integrityprimary key field whose value uniquely identifies each row custtitleforeign key reference a primary key of another table custsentity integrity unique value no null value in pk field referential integrity null value or value that matches pkDrivers of CRMOnetoonerelat Mktg customerfocused many campaigns LT Target Mktg group focused campaigns gen category profile demographics ST Mass Mktg product focused anon few campaigns wide reach littleno research STMISCRM ITenabled biz initiated to develop stronger rel w customers by optimizing interactionsbetter undstd needsbehaviorsObjectivesacquire new cust retain existing custgrow relationship better cust service increase revenue crossupsellingOperational frontoffice CRMinvolves areas where direct cust contact occurs gatherssharesuses data to improve interactions inboundoutbound contact eg concact centre for servicemktgsales sales force automation automates tasks performed by sales ppl like data collection web selfservice app tech smart shelf traffic monitoring loyalty kiosk pitfall smart cartsAnalytical CRM data warehousing techbiz intelligence analytical tools like data mining to provide infoincrease profitabilityInitiativescrossselling selling a PS as a result of another purchase eg fries w burger upselling motivate to trade up eg upsize customer retention churn analysis keepno based on revenue LifeTimeValue Value modeling Channel Optimization offer right message to right cust at right time Behav Prediction propensitytobuy analysis next sequential purchasePHASE 4 IS Levels of Decision Making 1 Strategic MgmtSenior Managers Forecasting LT obj Allocate Resource 2 Mgmt ControlMiddle Manager sales perf analysis monitor performance make adjustments 3 Operational Controlline mgmt inventory mgmt 4 Operationsemployees salary processing daytoday TPSTransaction Processing System TPS operational regroutine biz transactions critical to operations update storage summarization eg airline resv payroll Management Info System MIS opermgmt data from oper system to provide info for decision making structuredsemistructured decisions data from TPS to produce simple models and summary report fixed eg inv control systemDecision Support Systems DSS mgmt computerized support to decision making process anticipate future use data from past flexible adaptable quick inte
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