BU111 Study Guide - Midterm Guide: Critical Success Factor, Customer Switching, Switching Barriers
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BU111 Full Course Notes
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Document Summary
Knowing what your customer wants today and in the future. Organization is able to do something significant in a way that is unique and valuable. How you keep up with the constantly changing environment. Customers are willing to buy products at a higher price (price maker)=higher profits. The efficiency and effectiveness of the organization therefore its ability to generate revenues or keep expenses low. Financial performance affects revenue (keep and attract customers) and. Financial performance weekend in short and long run . expenses (cid:523)reduces # of defective products(cid:524) producing quality products lead to improved quality . Allows firms to identify new markets/activities/strategies that can generate revenue, able to identify new ways to meet customer needs, new ways of. Lack of effort and turnover will reduce productivity and efficiency , increasing expenses, more likely to meet customer needs as they take personal pride in customer satisfaction, committed employees take greater care in their work, share innovations.
