BU111 Chapter Notes - Chapter 2: Business Process Management, Viral Marketing, Outsourcing
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BU111 Full Course Notes
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Document Summary
Core competencies are the skills and resources with which they compete best and create the most value to owners. Outsourcing is the strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials or services. Firms today outsource numerous activities, including payroll, employee training, and research and development. Social media sites are now an important part of everyday life for consumers. Companies are addressing this new reality by providing content and creating various links to connect with consumers. Organizations are being careful about their online presence because they don t want it to be seen as an imposition, but rather a natural extension to their real-world relationship with clients. Using various formats - games, contests, and instant messaging - marketers encourage potential customers to try out products and tell other people about them.
