BU111 Study Guide - Midterm Guide: Business Process Management, Kodak, Customer Switching
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BU111 Full Course Notes
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Document Summary
Vision: broad description of what we want to be. Mission: how we want to get there, it helps us stay on track. The vision and the mission influence the strategies. Always consider the external environment it creates obstacles and represents opportunities. Internal organization marketing, financing, supply chain, functional areas. Achieving the most you can with the resources you have. Make sure you"re meeting a need (the only way you"ll get $) Understanding what your customers want and giving it to them. It costs more to build quality, but in the long run, it will decrease defective products (which waste labour and materials) Gives you a competitive advantage gives you the ability to increase the price of your product (more revenue) Allows you to create and meet customer needs. Employees are the body of the organization. Hire good minds instead of good hands. They"ll care about the customers and defend the company.
