All entries for Thursday 16 October 2008
October 16, 2008
We just had a lecture on strategic Analysis. It was very interesting. The first thing that stood out was "the goal of the business is to make money, NOW anf the FUTURE. One should not exploit any one for a short term gain. One has to keep in mind the long term success of the company.
One must have an operation strategy in place, must have operation objectives in place and also operations competitive role and position. The most important thing professor said was one should ask one self " how does one plan to compete? Why does the customer wants to come to you and not the competitor." This is because of the benefits you provide the customer which the customer values. The customer is not paying for good only but also the benefit provided. The benefit could be "quality,dependibity (consistancy), cost advantage, flexibility or responsiveness". Its important that the customer understands the benefits you prodive him/her. Many a times businesses say "lets pass customer expectation". This is wrong as if the customer does not understand the benefit then its a waste.
One more thing professor said I found really interesting was that according to More's Law (I hope I got the name right) the power of the computer is doubling every 18 months.....