STHM 1113 Lecture Notes - Lecture 3: Hurricane Harvey, Quality Control, Frankfurt Stock Exchange
6 May 2018
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Professor
• Bulls and Bears – sybols of a arket’s status
o Frankfurt Stock Exchange photo
o Bearish – feelings of pessimism; downward trends in stock prices; markets are
hiberatig
o Bullish – feelings of positivity and hope; investors believe stock prices will rise;
aggressive like a bull
o Quality Control - process through which a business seeks to ensure that product
quality is maintained or improved and manufacturing errors are reduced or
eliminated. Quality control requires the business to create an environment in
which both management and employees strive for perfection. This is done by
training personnel, creating benchmarks for product quality, and testing
products to check for statistically significant variations.
o
Market Disruptor (Disruption) - A situation where markets cease to function in a
regular manner, typically characterized by rapid and large market declines.
Market disruptions can result from both physical threats to the stock exchange
or unusual trading. A disruptor is something that causes a change in the market.
o Value Proposition - An analysis or statement of the combination of goods and
services offered by a company to its customers in exchange for payment.
• Applying Concepts in STHM Fields
o Quality Control – reducing errors and mistakes in business processes to ensure a
high quality customer experience or product
o Sport & Rec – ticket sales, merchandise quality and authenticity, recruiting,
housekeeping, stadium entry/security
o Tourism & Hospitality – hotel check-in, booking process, room quality
(housekeeping)
• Market Disruptors – often created by technology advancements
o Tourism & Hospitality – Airbnb; online booking for hotels or airlines
▪ Sport & Rec – secondary ticket markets (Stub Hub)
▪ Non-technological disruptors: Hurricane Harvey & Irma (disrupting
sporting contests, hotel bookings, travel); North Korean missile tests
(2018 Winter Olympics?); U.S. Immigration policy (hotels & restaurants)
• Value Propositio aka Value Prop
o Every successful organization and employee can articulate its value prop
o What you do well and how you differentiate yourselves from competitors
o Sports agent/event planners – what is your value prop to your client?
o What is Temple University value prop?
o What is the Ritz Carlton value prop?
o What is the 76ers value prop?
o What is FC Barcelona value prop?
o Economics
o Distribution of resources for the production of goods and services within a social
system
o Resources
find more resources at oneclass.com
find more resources at oneclass.com
