ITM 309 Study Guide - Comprehensive Midterm Guide: Tiffany & Co., Payless Shoesource, E-Commerce
5 Oct 2016
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Business strategy: leadership plan that achieves a specific set of goals or objectives. Competitive intelligence: the process of gathering information about the competitive environment to improve the company"s ability to succeed. Porter"s five forces very important: threat of substitute products/services, supplier power: bargaining power of suppliers, buyer power: bargaining power of buyers, rivalry among existing competitors: cost, quality, service, threat of new entrants. Corporate strategy is all about deciding how your firm will create economic value added. Drivers of firm profitability are: industry structure, sustainable competitive advantage. Business process: standardized set of activities to accomplish a specific task (how work gets done) Value chain analysis: views an organization as a series of processes: porter"s value chain analysis know this. Breaks down into primary value activities and support value activities. Itm 209 staple yourself to an order article. Easy for orders to fall through the cracks when they move horizontally (or between departments)
