BU111 Lecture Notes - Economic Stability, Cash Flow, Information Technology

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carmineweasel949

24 Sep 2012

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Critical success factors (never ask to list, just explain what they mean) Ability to compete based on something other than price. Key variables to be considered in strategic analysis. (internal) Principal logic (of the diamond): consistency or alignment. *important to have consistency between variables. ex. environment is not in demand for new products but p&g produced new things and lost money. Managers determine opportunities (+ external trends/changes) and threats (- external trends/ changes) Government can create incentives, constraints, or support/bail out when needed. Affects uncertainty, risks and costs faced by firm. Economic growth -gdp and standard of living. Affects how we live, work, consume and produce. Information technologies affects information access, inter-firm cooperation, cycle times. Cycle time is time taken to product on market. Computer technologies have changed our products and how we design and build. Affects what we produce/what it can do, affects how we produce and how we sell (demands constant learning and scanning)

Related Questions

The difference between a company's strategy and a company's business model is that

A)a company's strategy is the plan for achieving strategic objectives while its business model is the plan for achieving financial objectives.

B)the strategy concerns how to compete successfully and the business model concerns how to operate efficiently.

C)a company's strategy is management's game plan for realizing the strategic vision whereas a company's business model is the game plan for accomplishing the business purpose or mission.

D)strategy relates broadly to a company's competitive moves and business approaches (regardless of the financial outcomes it produces) while the term business model relates to whether the revenues and costs flowing from the strategy demonstrate that the business is viable from a profit perspective.

E)a company's strategy concerns how to please customers while its business model concerns how to please shareholders

whiterhinoceros784

Which of the following statements is true of business ethics?

a. Ethical behavior can not only enhance a company's reputation but can also drive profits.

b. Conducting business in an ethical manner does not influence the financial performance of a company.

c. Social responsibility is directed only toward a company's customers and not its employees.

d. Social responsibility in business is less important than satisfying shareholders.

e. Business ethics is not relevant to nonprofit organizations.

silverwombat742

Case Study - 5

Breaking The Bargaining Pattern

Gilson steel is a local fabricating and supply firm. Situated in open country, far from the large steel making centers. The firm has been in business many years. About the third of employees have worked in the organization for more than ten years. Top management would like to get away from the current practice in which negotiations on wage matters and fringes follow the pattern. The firm’s president feels that industry – wide bargaining tends to divorce employees from the firm. He thinks they feel that their employer is a combination of U.S steel and bethlem steel instead of Gilson. He argues that the local firm which has prospered can do better by employees than is possible in national pattern. He says that the local conditions should be considered. His basic objection to current practice, however, is his conviction that it tends to divorce its employees from local employer. The labor relations manager has been urged to try negotiating terms at variance with the national pattern.

Answer the following questions: ·

What theory and policy do you read into the president’s suggestion? ·
How will his ideas fit into the existing pattern of public union policy? ·
Can you suggest a promising innovative approach?

snehashisbera2020

BU111 Lecture Notes - Economic Stability, Cash Flow, Information Technology

BU111 Full Course Notes

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