BUAD 250B Chapter 1 Notes

BUAD 250B Chapter 1 Notes - -Customer intimacy we...

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Chapter 1 Managerial Accounting and the Business Environment Managerial accounting – concerned with providing information to mangers – ppl. inside an organization who direct and control its operation Financial accounting – providing information to stockholders, creditors, and others who are outside an organization Globalization Growing sales in emerging markets, such as China, India and Russia Strategy A “game plan” – attract more customers by making one’s products distinguishable from others Customer value propositions – the company can succeeds only if it creates a reason that customers should choose its products
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Unformatted text preview: -Customer intimacy we understand and respond to your individual needs better than other companies Ex: Nordstrom, Starbucks -Operational excellence We can deliver products and services faster, more conveniently, and at a lower price than our competitors Ex: Southwest Airlines, Wal-Mart -Product leadership we offer higher quality products than our competitors BMW, Cisco The Work of Management and the Need for Managerial Accounting Information Managers carry out three major activities Planning Directing and Motivating Controlling...
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