Term
| What are the four distinctive competencies? |
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Definition
Efficiency
Quality
Innovation
Customer Responsiveness |
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Term
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Definition
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Term
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Definition
| Focuses on reducing fixed costs for the production one unit to produce more for less. |
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Term
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Definition
| Focuses on reducing variable costs, because as you learn how to be more efficient the lower your variable costs will become. |
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Term
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Definition
| (Fixed Costs / # of Units) + Variable Costs = Unit Cost |
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Term
| Why do companies want to retain existing customers? |
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Definition
| To spend less on marketing and trying to gain new customers. |
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Term
| As the size of a firm grows, what happens to average cost per unit? |
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Definition
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Term
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Definition
| You can't back out because you have dumped too many resources into your firm. |
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Term
| Quality can reduce costs using what? |
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Definition
| Total Quality Management or TQM. |
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Term
| What is the greatest flaw in pursuing innovation? |
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Definition
| Focusing on an existing market to avoid taking risks. |
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Term
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Definition
| Going too far beyond customer expectations. |
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Term
| How to get around innovative failure |
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Definition
| Building skills in research, manage project selection, product development teams and partly parallel process. |
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Term
| Customer Responsiveness involves what? |
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Definition
Leadership
Right Attitude
Customization
Response Time |
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