BUS3 189 Chapter Notes - Chapter 1: Yokohama Rubber Company, Cost Leadership, Competitive Advantage
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Actions having actions on what you"re going to do to achieve the goal. Is about creating superior value while containing the cost of creating it or by offering similar value at a lower cost. Who"s going to be looking at this. 20% of firm"s prof. is attributable to the industry which it operates. 55% of firm"s profitability is attributable to the actions its mgmt takes. The stakeholder can also affect the comp. /org. /firm. Who has the power to tell you to do smth. Makes you do what you wouldn"t do. Ex. the right to go onto yelp and write a bad review for a place. Values : what commitments and guardrails do we put in place to act both ethically and legally as we pursue our mission and vision. Start with the end in mind know what you are trying to accomplish. Tesla"s is to accelerate the world"s transition to sustainable transportation . About how do we get there/accomplish things.
