COB Test #1 Flashcards
value chain
the various business activities and processes involved in creating a product or performing a service
Primary activity
inbound logistics, operation outbound logistics, marketing + sales, and service
Secondary activities
firm infrastructure, human resources management, and procurement
secondary activities get
cut over primary activities
decision process - first step
define the problem/goal
cognitive bias
a systematic thought process cause by the tendency of the human brain to simplify information processing through a filter of personal experience
rivarly
-# of competitors
-diversity in competition
-industry concentration
-industry growth
-quality differences
-brand loyalty
-barriers to exit
-switching costs
supplier power
-number and size of suppliers
-uniqueness of each supplier’s product
-focal company’s ability to substitute
threat of substitute
-number of substitute products available
-buyer propensity to substitute
-relative price performance of substitute
-perceived level of product differentiation
-switching costs
threat of new entants
-barriers to entry
-economies of scale
-brand loyalty
-capital requirements
-cumulative experience
-government policies
-access to distribution channels
-switching costs
bargaining power of buyers
-number of customers
-size of each customer order
-difference between competitors
-price sensitivity
-buyer’s ability to substitute
-buyers information availability
-switching costs
bull-whip effect
when there is a change in demand, whatever change happens there, it is going to be amplified going back up the supply chain
structured/unstructured decision making
predictable and quantifiable/experience based
systems thinking
looks at connected wholes rather than separate parts
abstract thinking
looks at connected wholes rather than separate parts
perfect competition
the situation prevailing in a market in which buyers and sellers are so numerous and well informed that all elements of monopoly are absent and the market price of a commodity is beyond the control of individual buyers and sellers
monopolistic competition
when many companies offer competing products or services that are similar, but not perfect, substitutes
oligopoly
a state of limited competition, in which a market is shared by a small number of producers or sellers
monopoly
a market structure that consists of only one seller or producer
cost/price
firms aim to produce/sell products at cheaper price than competition
differentiation
its all about making your products stand out from the competition
product/process innovation
new/superior products and services; reduced costs in supply chain
organizational effectiveness
developing an organization that can support product innovation through being effective and efficient
customer focuse
deliver products and services in a manner which creates a real or imagined value for customers
disintermediation/channel conflict
occurs when manufacturers (brands) disintermediate their channel partners such as distributors, retailers, dealers, and sales representatives, by selling their products directly to consumers through general marketing methods and/or over the Internet (eliminating the players)
goal of marketers
create relationship/community
collaboration purpose/characteristics of a good collaborator
accountability and communication
constructive criticisim
a type of feedback that offers specific and actionable advice to help employees to improve
concepts of project management and collaboration
team work
time
time needed to complete project
cost
total resources needed to complete project
scope
requirements necessary for project
BPM (business project managements)
done continously
process efficency
ration of outputs to inputs
process effectiveness
how well a process achieves organizational strategy
improving processes
change process structure, change process resources, change both
non-durable
immediate or almost immediate consumption; food, clothing, gasoline
durable
3-5 year life cycle; cars, electronics, appliances
capital
5+ year life cycle; house, investment property
capital organizations
fixed, long-term assets used in the operation of the business; office buildings, warehouses, factories, heavy equipment, IT infrastructure
for sale/resale
goods purchased or produced to be sold to customers; groceries in grocery store, clothing in target, automobiles in dealership
MRO (maintenance, repair and operations)
goods and services are purchased to run and maintain their business; office supplies, company autos for employees, repairs to capital goods (limited)
RFM
a type of customer segmentation and behavioral targeting to help businesses rank and segments customers based on the recency, frequency, and monetary value of a transaction
