SOM 122 Lecture Notes - Lecture 1: Human Capital, Income Statement, Breakcore

• School: Syracuse University
• Department: School of Management
• Course: SOM 122
• Professor: Geoghegan

Document Summary

Som122 lecture 1 the u. s business environment. Any organization that provides goods or services to earn profits. All areas of business are interconnected and interdependent. Demands teamwork among the functional areas to operate efficiently/effectively. No one area is more important than another: supply chain/operations. Important aspects of marketing: sales: accounting. Keep track of stock and flows or levels and changes : Relationship with investors and regulators: finance. Broadly stated, the finance function is concerned with the flow of funds between the capital markets and the firm"s operations. Addresses only two questions for the firm: How should the firm pay for that investment? (2 (3. Human capital: the most valuable asset any firm possesses is the people that work at the firm. And often is the only thing that differentiates one firm from another. Organizes and coordinates the other business functions. Relationship with all employees and board of directors.