BU385 Chapter Notes - Chapter 2: Strategic Planning, Material Requirements Planning, Swot Analysis
Document Summary
Chapter 2 competitiveness, strategic planning, and productivity. Competitiveness: ability and performance of an organization in the marketplace compared to other organizations that offer similar goods/services. Strategy: lt plans that determine direction an organization takes to become/remain competitive. Strategic planning: managerial process that determines strategy for the organization. The reason a company prospers, barely gets by, or fails. Depends on capabilities and performance of the company in its marketplace. Capabilities (core competencies) ***: collective knowledge/skills an organization has that distinguishes it from the competition. If all other factors are equal, customers choose the one with the lowest price: quality: characteristics of goods/service determined by its design, material, workmanship, performance, and consistency. Key characteristics of core competencies**: should be used to gain access to a variety of markets, should be strongly related to key benefits provided by products/services, should be difficult to imitate. Other purchasing factors include customer service and convenient location.
