general business data bank
1. The four key elements that make the current
business environment different from the past include globalization,
technological change, the importance of knowledge and ideas and collaboration
across organizational boundaries.
2. It can be said that technology both complicates
things and creates new opportunities.
3. Using personal technology such as a BlackBerry,
means that you must be available all of the time to do the best job
4. Knowledge management is a set of practices aimed at
discovering and harnessing the competition's intellectual resources.
5. Collaboration can occur between but not within
6. Better serving the customer can start with
involving the customer more in company decisions, especially when it comes to
discovering more about customer attitudes.
7. The key to company success is how much the industry
in which it operates will affect society or how much it will grow.
8. The fundamental success drivers for an organization
are innovation, quality, speed, and product delivery time.
9. Innovation is the introduction of new goods and
10. If an organization does not innovate, it will
11. Quality is the excellence of your product
(including goods and services).
12. Total quality includes preventing defects before
13. Today, customers value both the quality of
physical goods and the quality of services.
14. One dimension of service quality is making it easy
and enjoyable for customers to experience a service or to buy and use products.
15. Corporate speed often separates the winners from
the losers in business.
16. "Cost competitiveness" means pricing
your products lower than all competitors' products.
17. Managing for competitive advantage includes
delivering innovation, quality, service, speed, and cost competitiveness.
18. Management is the process of working with people
and resources to make profit at all costs.
19. To be efficient is to achieve organizational
goals. To be effective is to achieve goals with minimum waste of
20. Efficiency is far more important than
effectiveness in today's competitive environment.