BU111 Lecture Notes - Lecture 2: Voice Of The Customer, Perfect Competition
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BU111 Full Course Notes
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In order to successfully use critical success factors there is a need for an internal organization, which turns strategy into reality (acts as a driving force) Having a good return on investment, especially compared to other businesses in the industry. Allows you to execute your strategy: meeting customer needs. Company"s need to understand what customer"s needs are, how they want it delivered to them, while anticipating customer"s needs (creating customer"s needs) So customers continue to buy your products and services. If you do not ensure that you are meeting customer"s needs and wants your company"s revenue will decrease and your competitors will rise, thus lowering your profit and financial performance: building quality products & services. Providing customers with a consistent level of quality. It means that you are getting the level of quality that you pay for (fair value) Customers expectation is that they are going to get what they pay for (customer needs)
