MGMT 30B Lecture Notes - Lecture 1: Situational Ethics, Making Money, Operational Excellence
8 Jun 2016
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How should we execute: differences between financial vs. managerial accounting. Why do we care about managerial accounting: help properly implement business strategy (steal customers from other businesses) Post office strategy: stay in business, cheaper rates, provide service at best cost possible. Chevy strategy: sell economical cars to american market. Bmw strategy: be the best to higher income individuals. Customer intimacy (appealing to different markets of customers) Operational excellence (doing things like delivery and price the best) Product leadership (we have the best product: help identify risks and develop responses. United airlines computer systems had an outage and failed so lost business. What strategies can be implemented to deal with these risks: help improve business processes that service customers, help analyze data to provide answers to problems, help encourage co-workers to achieve goals. Moral principles, balancing making money and morality: views of ethics. Positive law: it is unethical if it is illegal.
