BU385 Study Guide - Midterm Guide: Ishikawa Diagram, Strategic Planning, Pareto Analysis
Document Summary
= costs of goods value of outputs. Service = costs of services + value placed on services by society. Value of output = prices consumer willing to pay for goods. Competitiveness: measure ability to produce g/s w respect to those offered by other companies. Strategy: lt plans what direction to take to enhance/keep corp level of competitiveness. Strategic planning: managerial process -> determines strategy. Productivity: measure of how well utilize resources to keep output. Ability - group of ppl work toward common goal. Business climate fosters the notion of core competencies. Build upon experience/ mistake to develop new product. Timeliness: get product to customer in time frame. Approach can be dependent upon size of approach large firms take formal approach. Assess current performance levels; market survey ; strategy dvt team. Goals + objectives concrete + measureable. Action plans specific tasks assigned to ppl etc. Goal = long term operational comp. adv.
