BUSI 2701 Lecture Notes - Lecture 8: Workforce Productivity
5 Mar 2014
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Document Summary
A firms strategy refers to the actions that managers take ot attain the goals of the firm. Firms need ot pursue strats to increase profit or other recognized measures of performance: profitability ror on inv cap, profit. Value creation is difference between: rev received which is the value of the product or service to the consumer, costs of producing the product or service. Generic strategies: differentiation c goose, low cost, combo of both. Configure ext and int ops w production decisions. Have the right organization structure (hr decisions) in place to execute strategy. Primary activities r&d, production, marketing and slaes, customer service. Support activities info sys, logistics, hr. Value chain: where value is added along production. Earn a greater return: leveraging competencies from host to home and vice versa. Labour productivity: increases with workers who figure out how to produce better and faster, managers learn how to manage ops better. Economies of scale large vol reduction in unit cost.
