180.Class8
Page 8: Review of Functional Business Areas
Areas to Know:
Sales, Marketing, Accounting, Finance, Operations/Manufacturing, Human Resources, IT.
Key Questions:
Differentiation between customer-facing and business-facing processes.
Understanding the value chain for business analysis.
The difference between business strategy and business tactics.
Key Performance Metrics: ROI, KPI, CSF, benchmarking.
Overview of SWOT analysis and its consultancy application.
Page 9: Examples of Enterprises
Noteworthy Enterprises:
Qualcomm, San Diego State, Delta Sigma Pi, Visa, Rigoberto's Taco Shop, WOD Nation, San Diego Blood Bank.
Page 10: Evaluating an Enterprise
Evaluation Criteria:
Functional structure (internal), Industry/Vertical Market (external), Processes (value chain), Strategy & Tactics.
Page 11: Importance of Evaluation
Understanding enterprises aids in determining organizational fit as an employee, improving job performance, identifying issues, anticipating changes, enabling investment decisions, and enhancing management effectiveness.
Page 12: Internal Functional Structure Review
Overview of Functions:
Sales: Selling goods/services.
Operations Management: Converts resources into goods/services.
Accounting: Manages financial transactions.
Marketing: Promotes goods/services.
Finance: Manages financial aspects.
Human Resources: Employee management.
Page 13: External Industry Evaluation
External Stakeholders:
Government: Compliance and ethical taxation.
Partners/Suppliers: Contracts and production ethics.
Customers: Customer service and product quality.
Employees: Fair compensation and ethical treatment.
Shareholders: Profit maximization and ROI.
Community: Responsible practices and economic growth.
Page 14: Business Process Evaluation
Key Processes Include: Hiring, Manufacturing, Quality Control, Marketing, etc.
Example: Ordering coffee demonstrates business processes.
Page 15: Types of Business Processes
Customer-facing: Direct interaction with external customers.
Business-facing: Back-office functions that are critical but unseen by customers.
Page 16: Need for Differentiation in Processes
Importance of recognizing different challenges and solutions for customer-facing vs. business-facing processes.
Page 17: Value Chain Analysis
Elements of the Value Chain:
Primary Activities: Inbound logistics, operations, outbound logistics, marketing and sales, services.
Support Activities: Management, human resources, technology and development, procurement.
Page 18: Strategy vs. Tactics
Definitions:
Strategy: Overall vision and high-level goals for the enterprise.
Tactic: Specific actions to implement the strategy.
Key distinctions: Scale, timeframe, measurability.
Page 19: Sample Competitive Strategies
Types of Strategies: Cost Leadership, Differentiation, Innovation, Growth, Alliances.
Companies Examples: Dell, Priceline, eBay demonstrating various strategies and their market benefits.
Page 20: Competitive Strategies - Cost Leadership
Focus on reducing operational costs and inventory management.
Techniques include Just In Time inventory and supplier collaboration.
Page 21: Competitive Strategies - Differentiation
Creating unique offerings that stand out from competitors and serve niche markets.
Page 22: Competitive Strategies - Innovation
Introducing new business models and unique products to improve customer service and market speed.
Page 23: Competitive Strategies - Growth
Strategies focusing on expanding capacity, global reach, diversification, and integration.
Page 24: Competitive Strategies - Alliances
Forming partnerships, mergers, and agreements to broaden support and enhance capabilities.
Page 25: Competitive Strategies - Focus/Niche
Targeting a specific market segment within an industry, either through cost focus or differentiation.
Page 26: Evaluating an Enterprise
Methods of Evaluation:
Functional structure, Industry analysis, Process evaluation, Strategy and Tactics.
Metrics:
Critical Success Factors (CSF), Key Performance Indicators (KPI), Benchmarking, Return on Investment (ROI).
Page 27: Measuring Enterprise Strategies
Use of quantifiable metrics to assess progress toward achieving CSFs and KPIs.
Page 28: Measuring Enterprise Decisions
Metrics for benchmarking include ROI, which compares expenses to benefits to determine investment efficiency.
Page 29: Personal Strategic Assessment Exercise
Personal strategy reflection: identify primary strategy, key areas of focus (CSFs), tactics, and metrics for progress monitoring.
Page 30: SWOT Analysis Overview
Components include Strengths, Weaknesses, Opportunities, and Threats; exemplified with Amazon.com.
Page 31: Group Exercise
Collaborative activity to teach definitions and applications of strategy, tactics, CSFs, and KPIs; analyzing AirAsia case.
Page 32-34: Wrap-Up and Further Discussion
Final remarks, encouragement to polish knowledge and strategies discussed.
Reminder to reflect on personal metrics for success.
Conclusion with light-hearted interaction to engage the class.