Essay About Customer Needswhat Kind Of Needs Of Customers And Profiles Of Cheatersfundamental Flaw Of Business

Two Ways to Increase a Profit of a Company
Two ways to increase a profit of a companyIncrease the shareholder valueIncrease the level of profit abilitiesROIC – Return on invested capitalSustained competitive advantageIf a company has above average profitability for over 3 years, they have sustained competitive advantageBusiness Model3 dimensionsCustomer groupsWho are the customers?Customer needsWhat kind of needs of customers are being satisfied?Distinctive competenciesHow are these customers being satisfied?In-class handout questions:Customer groups: Women who have been cheated or want to avoid cheatersWomen who would like to see information about potential or current partnersCustomer needs: To avoid men who are cheatersReassurance Distinctive competencies: Posting the profiles of cheatersFundamental flaw of business: Potential for imitation of the companyHow to prevent that:Build your customers as large and as quick as possibleTwo types of stakeholders:ExternalCustomersAdvertising companiesLawyersSuppliersInternalShareholdersEmployersFour important things to keep in mind:Be an imitatorDo not be a perfect imitator – if you can do it, someone else can do tooDo not build your business based on the conflict of two stakeholdersIf you were a business consultantImportant is how to solve the operational problems in a company – competitive advantageComing up with a business idea is not as importantBiases:Reasoning by analogy bias examples:Today is a paradise. Hence, we do not need an umbrellaForming some sort of conclusion based on a metaphor