BU111 Lecture Notes - Lecture 2: Swot Analysis
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BU111 Full Course Notes
Verified Note
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Document Summary
Achieving financial performance - profit margins, committed employees results in financial success. Meeting customer needs- providing services for customers and what product/services they want, important so they come to you for products (increased revenues), if you lack they can go to your competitors. Building quality products and services promise of services and done consistently, offering products in best quality, committed employees more dedicated and put best effort to build products and offer best service, builds up reputation. Encouraging innovation & creativity- desig(cid:374)i(cid:374)g (cid:374)ew pla(cid:374)s i(cid:374) a way that"s (cid:373)ea(cid:374)i(cid:374)gful a(cid:374)d will benefit performances, making changes that will be implemented quickly without causing harm. Gaining employee commitment- making employees feel they are important, thus they want to continue working here, more engaged into the work, committed employees put more effort in satisfying customer needs, committed employees are factors to achieving financial performance.
