SMG SM 131 Study Guide - Midterm Guide: Equal Love, Mantra, False Claims Act

• School: Boston University
• Department: School of Management
• Course: SMG SM 131
• Professor: Kabrina Chang

Document Summary

Everett lord - founding dean (the golden rule = the unchanging standard of conduct) The purpose of business: creating sustainable long term value for stakeholders. Stakeholders are employees, customers, communities suppliers and owners. Performance is driven by: values, vision / mission, strategic goals, tactical actions and metrics. Important roles: the ceo, group presidents, sales, marketing, manufacturing, customer service. Board of directors role: duty of loyalty - represents interests of owners. Hire & fire ceo - most important role. Ceo: establish the strategy, set the tone at the top, role model for the culture. Set financial and non-financial goals, achieve results, develop people / talent. Financials: profit & loss (income) statement - revenues / costs / income / taxes & interest. Balance sheets - assets / liabilities / shareholders. Cash flow statement - sources and uses of cash. Measuring performance: non financially, employee, customer satisfaction and corp rep. For profit: raw materials (commodities), manufacturing - consumer, industrial products.