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Lecture 4

MGMT 1000 Lecture Notes - Lecture 4: Swot Analysis, Legal Personality, Comparative Advantage


Department
Management
Course Code
MGMT 1000
Professor
Kathleen Rodenburg
Lecture
4

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Globalization:
o the integration of markets globally.
o the world is becoming a single independent system.
Major world markets
o North America
o Europe
o Pacific/Asia
Emerging World Markets (BRICS)
o Brazil
o Russia
o India
o China
o South Africa
Other Important Emerging Markets
o South Korea
o Thailand
o Indonesia
o Ukraine
Absolute advantage: a country can produce something more efficiently than any other country
Comparative advantage: a country can produce certain items more efficiently (cheaper) than it
can other items.
Corporations
o Separate legal entity
o Property rights and obligations
o Indefinite lifespan
Public corporation
o Shares are widely held and available for sale to the general public
o Initial public offering (IPO): the sale of shares for the first time to the general investing
public.
Board of directors
o Governing body; responsible for shareholder interest
o Appoint management, set policy, make major decisions
Share holders
o Investors who buy shares of ownership in a company
o May share in profits through dividends
Chief Executive Officer (CEO)
o Person responsible for the fir’s overall performance
Functions of management
o Planning
o Leading
o Organizing
o Controlling
Mission/ vision: a statement that defines organizational scope, customers, markets, technology
and values.
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