BMK211 Chapter Notes - Chapter 3: Digital Photography, E-Commerce Payment System, Ebay
24 Oct 2014
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Agency theory, 72- economic theory that views the firm as a nexus of contracts among self-interested individuals who must be supervised and managed. Benchmarking, 85- involves comparing the ef ciency and effectiveness of your business processes against strict standards and then measuring performance against those standards. Best practices, 85- best practices are usually identi ed by consulting companies, research organizations, government agencies, and industry associations as the most successful solutions or problem-solving methods for consistently and effectively achieving a business objective. Business ecosystem, 89- loosely coupled but interdependent networks of suppliers, distributors, outsourcing firms, transportation service firms, and technology manufacturers. Competitive forces model, 76- this model provides a general view of the rm, its competitors, and the rm"s environment. Core competency, 87- activity at which a firm excels as a world-class leader. Are substitute products that perform as well as or better (often much better) than anything currently produced.
