Management 339 Chapter 1 notes
Management 339 Chapter 1 notes mgmt 339
Cal State Fullerton
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This 2 page Bundle was uploaded by Melinda Chou on Tuesday August 30, 2016. The Bundle belongs to mgmt 339 at California State University - Fullerton taught by casey kleindenst in Fall 2016. Since its upload, it has received 24 views. For similar materials see operations management in Business at California State University - Fullerton.
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Date Created: 08/30/16
Management 339 - CHAPTER 1 Managing in the New Competitive Landscape Globalization Companies that want to grow often need to tap international markets, where incomes are rising and demand is increasing A company’s talent can come from anywhere outside the United States o Ex. Cisco – maintains operations in India to be an essential tactic for staying competitive Internet is making globalization more possible (can develop content in their own languages and suited to their own means of access) Local to global marketplace is gaining momentum and is irreversible Many small companies export their goods and many domestic firms assemble their products in other countries. o Companies are under pressure to improve their products in the face of intense competition from foreign manufacturers Technological Change Complicates things, yet creates new opportunities o Challenge comes from the rapid rate at which communication, transportation, information, and other technology changes Why is the Internet so important to business? o It is a marketplace, it drives down costs and speeds up globalization, it improves efficiency of decision making, it facilitates design of new products, managers can watch and learn what other companies are doing (from other parts of the world) Knowledge Management Producing physical goods to providing services or abstract goods such as software, entertainment, data, and advertising Knowledge workers: workers whose primary contributions are ideas and problem-solving expertise o It’s a challenge to determine whether they are doing a good job Knowledge management: The set of practices aimed at discovering and harnessing an organization’s intellectual resources – fully utilizing the intellects of the organization’s people o Finding, unlocking, sharing, and capitalizing the resources (people’s expertise, skills, wisdom, and relationships) – human assets Collaboration across “Boundaries” Important process of knowledge management is collaborating effectively with one another in different departments, divisions and other subunits Companies today must motivate and capitalize on the ideas of people outside the organization Collaborations with investors o Ex. Starbucks outlets were interested in the board game, Cranium, which the customers enjoyed, which was the first board game to be sold at Starbucks Collaborations with customers o Involving the customers more in company decisions through social networking, learning about customers’ attitudes Managing for Competitive Advantage Key to understanding the success of a company is not how much the industry in which it operates will affect society or how much it will grow. It is the competitive advantage held by a particular company and how well it can sustain that advantage Fundamental success drivers are innovation, quality, service, speed, an cost competitiveness Innovation The introduction of new goods and services Your firm must innovate and adapt to changes in consumer demands and new competitors Sometimes the most important isn’t the product itself but the way it is delivered o Dining in the dark is popular in Europe and has collaborated with events in West Hollywood When facilities in other countries can manufacture appliances or write software code at a lower cost than facilities in the U.S, facilities in the U.S are at a disadvantage Quality The excellence of your product Customers now demand high quality goods and services The traditional approach to quality was to check work after it was completed and then eliminate defects, using inspection and statistical data to determine whether products were up to standards To achieve total quality (eliminate problems from the beginning) o Preventing defects before they occur o Achieving zero defects in manufacturing o Designing products for quality
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