Computer Science 1032A/B Lecture Notes - Lecture 4: Supply Chain, Business Process, Value Chain
3 Oct 2018
School
Department
Course
Professor
COMPSCI 1032A/B verified notes
4/13View all
Document Summary
Getting less and less as time goes on. The goal of business is simply to survive. Both are based on a simple concept: margin. At the end of every year, as a business owner, you should know every dollar that came in and went out. You have to track every dollar - going in and out. if you"re not doing this, you"re at risk for losing money. Margin is the difference between in the money coming in and the money going out: Success is constituted as a positive margin (i. e. you had a profit that fiscal year) Managing costs is not always necessarily reducing costs, you can increase good cost if it provides a higher return. Managing revenue is not always selling more, you need to know your market. How much output you get from each unit of input. You must be able to measure input and output. Do things right (will be on exam)
