BU111 Final: BU111 MIDTERM REVIEW
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BU111 Full Course Notes
Verified Note
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Document Summary
Anticipate customer needs, build a good customer base, get good reviews, attract new customers. High/medium/low quality, each customer expects a different type. Ex walmart customers have different expectations for their quality of food compared to customers of whole foods. Creating credibility for your products brings returning customers, brings revenues up and allows you to be profitable. Constantly pushing out new techniques, improving product/service, applying new ideas, etc. Allows you to keep up with the changing needs of customers. People are the foundation on what you build your organization around. Find employees that want to meet personal goals and company goals. You need all of them, because they are all interconnected. You cannot achieve one factor without the other. Vision: communicates purposes and values, memorable, future oriented, brief yet guides the company"s strategy; focused viewpoint. Mission: talks about the how in reference to the vision, answers multiple questions effectively (who, what, where, etc: diamond-e framework (strategic analysis)
