GMS 200 Lecture Notes - Lecture 1: Gapan

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Horatio Morgan

Document Summary

Identify and attract new customers: difficult to define value and customer satisfaction. Ex: child labour in vietnam, would customer be okay: globalization of production. Finished equipment is re-exported to the apple, us. Used as receptionists and nursing aids (japan) Difficult to gain and maintain market share: businesses have to contend with environmental uncertainty (fig 1. 6) Rate of change in environment vs complexity of environment. Revisit their business model regularly (what do your customers value and how do you deliver value to ur customers) Be nimble, be quick (can you change your operations quickly to meet customers needs, risky for big companies since they have a reputation, start up co doesn"t have much to lose) Know their customers well and anticipate demands. Focus on the things they do best. Focus on flexibility & speed: it is def important but enough. Talented workers are needed to drive innovation and support change. Develop employee capabilities in accordance with bus strategies.