You must have Credits on your Balance to download this sample
Pages 7 (1757 words)
Our today's society is information based. Information is data endowed with relevance and purpose. Converting data into information requires knowledge. The companies that possess superior information and knowledge can have competitive advantage. They can choose their markets better and develop superior marketing plans thus becoming better than their competitors.
From the marketing side three developments make the need for information greater now than in the past: global marketing, the customer-oriented marketing approach and the nonprice competition.
Information transforms the financial decisions governed by the numbers into business decisions based on the probability of alternative strategic assumptions thus it requires that the business has formulated a strategy and this strategy and its assumptions are challenged. Therefore, the organization needs to continuously innovate in order to remain and become antagonistic.
The management requires sales data especially up-to-the minute reports on current sales. It needs to have accurate data on stock levels of products, it needs information on customer profiles (financial and personal data), on marketing expenditure, on customers' perception about the company and its products, on industry sales and market shares, on staff's training needs, on financial aspects of the company (debts, loans, cash-flow, budgeting etc.), on R&D and on production line requirements.
The BMW Group follows the efficient dynamics strategy i.e. the environmental friendly car production and the customer orientation. ...
Not exactly what you need?