BUS-X 100 Study Guide - Midterm Guide: Intangible Asset, Lean Manufacturing, Gross Margin
PowerPoint Notes
Class 9
• How the mighty fall book (reasons big businesses fail)
o Arrogance
o Personal interest driven
o Denial of risk
o Using quick band aid fixes
o Irrelevance to death
• If you do’t re-invest into your business you are starting to decline
• Accounting is the language of business
• Profit is a scorecard of how well a company is being rewarded for providing customers with their
needs
• Everyone in the business needs to be familiar with business numbers
• Financial managers responsibilities:
o Develop a financial plan
o Determine sources of money
o Deal with investments
• Balance Sheet - asset growth & risk analysis.
• Income Statement - Measure how well company being managed, revenue growth, gross margin
& profit.
• Statement of Cash Flow - cash to pay ills…deline in cash early warning sign of trouble
ith…ietory or aouts receivable
• Goodwill - the amount paid above market value, Brand Identity, Specific Technology
• Intangible assets – aythig that is’t physial like itelletual property
• Knowledge and information are the most valuable assets to a company (google, Microsoft)
Class 10
• Marketing identifies the products
• Operations/Production makes the products that customers want
• Center of Market - Find center of where products sold not geographic center.
• Proximity - Locate near 1 (one) major customer.
• Types of production process
o Assembly – Steel converted into parts – Parts combined into cars
o Analytic – Breaks down raw material – Crude oil refined into gasoline
o Synthetic – Converts material into completely different products – Synthetic Oil –made
to replace something without using the original raw materials of the item it is replacing
• Toyota uses lean manufacturing
Class 11
• Duties of Human Resources
o Identify the Talent & Skills Required to be competitive.
o Find the People to Be Competitive.
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Class 9: how the mighty fall book (reasons big businesses fail, arrogance, personal interest driven, denial of risk, using quick band aid fixes. Income statement - measure how well company being managed, revenue growth, gross margin. Intangible assets a(cid:374)ythi(cid:374)g that is(cid:374)"t physi(cid:272)al like i(cid:374)telle(cid:272)tual property. Interesting work: appre(cid:272)iatio(cid:374) of work they"(cid:448)e do(cid:374)e, a feeling of being in the know, the collective mindset of a business is a powerful force. Labor union - better pay, hours, and working conditions: collective bargaining - process of agreement between labor union & company, how a union establishes the right to represent employees, employees approach union, union approaches employees. Class 12: mindset - knowledge - actions = results!!!!!!, #1 e(cid:374)e(cid:373)y of great results not controlling distractions/multi-tasking, what went wrong by george tyler. La(cid:271)or does(cid:374)"t guarantee a competitive advantage: cutting jobs to make higher profits is a short term solution, no asshole rule, harvard business review best new practice, do(cid:374)"t hire assholes.
