COMM 103 Chapter Notes - Chapter 1: Resource Consumption
24 Dec 2015
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Document Summary
An effective operating platform can be assessed against three fundamental characteristics: commercial endeavours, employee interaction model, organizational efficiency and structure. Commercial endeavours refers to the markets the organization serves, the product/services it offers, and the needs it professes to meet in the marketplace. Employee interaction refers to the value-creating skills that an organization"s employees bring to the marketplace. Organizational efficiency and structure is a reflection of the complexities of the business activities that circulate within an organization. Organization will build its business model around four core fundamental resource areas - assets, labour, capital, and managerial acumen. Assets referes tot he infrastructure and resource base of the organization. Capital refers tot he money needed to support asset-based expenditures, meet operating cash requirements, and invest in development. Managerial acumen refers to the foresight, drive, knowledge, ability, decision making competency. Business grow by executing a series of planning cycles over time, each designed to direct the positioning of the company within the marketplace.
