BUAD 202 Study Guide - Midterm Guide: Whistle Rymes, Ender Wiggin, Swot Analysis
30 Oct 2014
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Business an organizational unit that has a distinct strategy and a manager with sales profit and responsibility: any activity that seeks to provide goods and services to others, while operating at a profit. Objectives of business: survival, growth, social responsibility, ***profit*** most important. Business strategies: how you plan to provide goods and services and operate at a profit, 4 approaches to business strategy (a single company doesn t necessarily use all 4) What are you selling and to whom (individuals or businesses) Excellence on an important product attribute crest prevents cavities. What do you have that is particularly valuable and difficult for competitors to duplicate: technical expertise, intellectual property, equipment, brand name, customer base. You need to constantly strive to differentiate yourself from the competition. Business growth and job creation: the economic and legal environment. **global business environment: the technological environment. **global business environment: the social environment. **the quality imperative: the competitive environment.
