COMM 103 Midterm: Comm 103 MIDTERM

179 views43 pages
21 Nov 2012
Department
Course

Document Summary

A business: organization that provides goods/services to those who want or need them. Business foundation is comprised of see page #3 figure 1. 1. Capital: money needed by organization to support activity. Assets + labor + capital + managerial acumen = business model. Visionary leadership: ability for managers to establish a direction for the organization based on it"s needs and mission. The role of a business owner and/or management team is to anticipate, recognize, and sense and opportunity to create a product and/or deliver a service which is felt to be unique, and or value to a targeted customer. Also must understand the 3c"s (compatibilities, competencies, capacity) Best allocations of resources within constraints of economy. Business planning cycle- see page #6 figure 1. 3. Companies must set objectives in order to attain growth see page #7 figure 1. 4 smac specific, measurable, actionable, and controllable also should be achievable within a given time frame.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers

Related Documents