Business Intelligence & Competitive Advantage: Q&A
26. Which of the following statements is true with regards to switching costs? Switching costs are financial and non-financial costs of switching to a new product or service.
27. What is business intelligence (BI)? Collective information about a business’s customers, competitors, partners, environment, and operations.
28. If your team member brought information to your group that he/she obtained from a flash news story broadcasted over the internet, what attribute should you be concerned about? Validity.
Read MoreHotel Engineering and Maintenance: Key Aspects
Hotel Engineering & Maintenance (E&M)
The goal of the E&M department is to ensure that the hotel premises are properly defined and designed, according to the hotel’s type and concept, for the comfort of guests and the greatest efficiency, functionality, ecological principles, and operational sustainability. This “ensemble” must function in optimal conditions.
Working tool (the hotel): its premises, grounds, buildings, and contents, including technical concerns, equipment, furniture, and
Read MoreUnderstanding Total Quality Management (TQM) and TPM
Total Quality Management (TQM)
TQM is an approach to the management of quality that covers all parts and people of an organization to influence and improve the quality of products and services continuously for customers. It examines the interconnections within the organization to set a strategy and develop partnerships with employees and suppliers.
Key Principles of TQM
Quality Emphasis: TQM emphasizes quality as the key performance indicator for improvement, understood as a constant consistency between
B2B Marketing: Brand, Communication, and Distribution
Brand Positioning in B2B Marketing
A strong brand can be a key success factor in an increasingly competitive market. Brand building is a crucial activity. Here are some dimensions that refer to a brand:
- Visual Identity
- Brand Purpose
- Brand Personality
- Brand Communication
Co-branding and referrals are also very important in B2B.
The 4 P’s in B2B Marketing
What differentiates the product in a B2B market context?
- Product Offering: Manage the product offering throughout its lifecycle.
Adaptation cycle: physical
Read MoreEU Integration: Impact on Spain and Global Shifts
European Union Major Policy Issues
The UK initially stayed out of the European Economic Community (EEC), prioritizing free trade and maintaining relationships with its own colonies over closer ties with Europe.
EU Pillars
- Community Treaties: Supranational institutions and powers, representing areas where states transferred sovereignty.
- Common Foreign and Security Policy (CFSP): Focused on foreign relations and security.
- Justice and Home Affairs: Included projects like the creation of Europol.
Operation
Read MoreKey Areas of Human Resource Management
Training and Development
Training and development in human resource management are educational and skill-building activities intended to improve employee knowledge and skills. These activities aim to sharpen employees’ existing skills and impart new knowledge. An effective training and development program is designed based on an analysis of an organization’s training needs to improve employee performance.
Organizational Development
Organizational development can be defined as an objective-based methodology
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