BU111 Study Guide - Midterm Guide: Risk Aversion, Human Resources, Crowdfunding
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BU111 Full Course Notes
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Define the csf of gaining employee commitment and building quality products and services. Why is it important to pursue these two csf? (4 marks) Laws and regulations: taxes, trade agreements, political system (free-market vs command) Economic: balance of trade (export vs. import, exchange rates, productivity, employment rates. Innovation cycles - how fast technology is changing. How will changes in these factors affect your business. How will you get your information to consumers? (as technology is always changing) Select an element from the economic factor of pest. How can this represent an opportunity for a business, and a threat for another. (3 marks) Diamond-e: used to analyze business to see where it fits with the external and internal environment, the principal logic of the diamond-e model is consistency and alignment. Management preferences: risk tolerance, preference of direction, ethics, goals. Organization: culture, structure, capabilities, leadership of organization, how the business is organized; hierarchal, or more autonomy and freewill.
