BUS 478 Lecture Notes - Lecture 1: Cost Leadership, Goal Setting

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 478
• Professor: Da Silva Rui Jorge Basto

Document Summary

Allows people to look at things from a different perspective. As the external environment is changing inconsistently, making suitable changes to adapt the new environment might be necessary. Goal setting is important, which allows you to stay focus. Concentrate the resources and stay focus on one strategy. If you want to be unique, focus on creating value for the target customer. In order to be a successful business, consumers must want to buy it. Value is subjective and is in the eye of the beholder. Customers who need the products are the ones who see value in it, and value in return is the reason for willingness to pay. As people have preferences, so your role is to understand the source of the preferences and target their behaviors. Labor force is cheap in asia compared to other countries. Agency culture is strong, which leads to a low service and performance.