MGT Chapter 2

MGT Chapter 2 - E_cole Learning Objectives 1. List and...

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E_cole Learning Objectives 1. List and briefly discuss the primary ways that business organizations compete a. Identifying consumer wants and/or needs is a basic input in an organization’s decision-making process, and central to competitiveness. The ideal is to achieve a perfect match between those wants and needs and the organization’s goods and or services b. Pricing is usually a key factor in consumer buying decisions. It is important to understand the trade-off decision consumers make between price and other aspects of a product or service such as quality c. Advertising and promotion are ways organizations can inform potential customers about features of their products or services, and attract buyers. 2. List five reasons for the poor competitiveness of some companies a. Neglecting operations strategy b. Failing to take advantage of strengths and opportunites, and/or failing to recognize competitive threats c. Putting too much emphasis on short-term financial performance at the expense of research and development d. Placing too much emphasis on product and service design and not enough on process design and improvement e. Neglecting investments in capital and human resources f. Failing to establish good internal communications and cooperation among different functional areas
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This note was uploaded on 09/02/2011 for the course MGT 3305 taught by Professor Reed during the Spring '08 term at Baylor.

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MGT Chapter 2 - E_cole Learning Objectives 1. List and...

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