AKW103(Chap1.Managing and Performing)

(LO1)
Summarize the major challenges of managing in the new competitive landscape
①Globalization
②Technological Change(Internet)
③Knowledge management
④Collaboration across boundaries
Knowledge management
Set of practices aimed at discovering and harnessing an organization’s intellectual resources-fully using the intellects of the organization’s people
Collaboration across boundaries
Requires productive communication among different departments,divisions,or other subunits of the organization.
(LO2)
Describe the sources of competitive advantage for a company
①Innovation
②Quality
③Service
④Speed
⑤Sustainability
⑥Cost competitiveness
Innovation
The introduction of new goods and services.

A firm must:
①adapat to changes in consumer demands and to new competitors.
②be ready with new ways to communicate with customer and deliver the products to them.

Quality
The excellence of your product(good or service)

●attractiveness,lack of defects,reliability,and long-term dependability

Survice
●Giving customers what they want or need,when they want it.
●focus on continually meeting the needs of customers to establish mutually beneficial long term relstionship.
Speed
Fast and timely execution,responce, and delivery of results.
Sustainability
The effort to minimize the use of resources, especially those that are polluting and nonrenewable.
Cost competitiveness
Keeping costs low to achieve profits and be able to offer prices that are attractive to consumer.