quiz 1 mgmt - Garrett Aryan 9/26/2010 Management Tuesday...

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Garrett Aryan 9/26/2010 Management Tuesday 6:30 Quiz #1
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Question 1: 1. There are three primary market disciplines of successful companies in today’s business market. A. Product Innovators are companies that have an efficient and creative product development process, create actual new and improved products that are superior to others in the market at the time, as well as not only being a one-hit wonder in which they consistently create top of the line break through products that surpass customer expectations and change the lifestyle of that particular time. Some external examples of this would be industry regulation and political and legal trends, which can be directly influential to companies as seen with companies such as Craigslist. This example is directly applicable because just recently craigslist was forced to get rid of their adult section after a series of rapes and murders. Due these disturbing cases, craigslist will now most likely lose customers and fail to lead the industry with sex ads, possibly to the likes of facebook…All the while, internal examples of product innovation would be the culture of the company. With the culture of the company we can determine how well the companies employee’s work and prosper together towards the one common goal of leading their industry and staying competitive to be further along in the process of innovation, which will set their company one step ahead. B. Operationally excellent companies are companies that operate with efficient production, produce products at low prices with the lowest total cost, as well as providing the convenience of easy, pleasant, quick, and accurate
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transactions through an efficient and productive operating model. An external environment for operational excellence would be suppliers and making sure
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quiz 1 mgmt - Garrett Aryan 9/26/2010 Management Tuesday...

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