September 28, 2012
What is business?
A system of integrated mission-based actions designed to ensure that an
organization develops and grows a market for its goods and services in a
manner that creates organizational value on behalf of its stakeholders
o Organizations must properly identify solutions to market place
needs/desires and deliver there solutions to the right customer, at the
right place, at the right time, and for the right price creating a profit
o Commercial endeavors
o Employee interaction
o Organizational efficiency and structure
Ex. Software for online company
How much labor vs. capital
How many people?
How should we pay them?
How do we motivate?
What kind of resources do they need?
We need money to invest and start
Buy furniture, equipment, etc
How much money do we need?
Where should we get the money from?
o Managerial Acumen
Deliver something of value to customers
Developing a strategy is developing a plan to reach an objective specifically
in a business
o External market
Here’s what we should do
o Management priorities
3Cs = capabilities, compete