lecture 1

Question 1

The discipline of marketing focuses on understanding the activities of what

Answer 1

understanding, reaching and serving customers, be they individual consumers such as you or me, or other organizations or institutions

Question 2

Marketing activities are aimed at getting and keeping who

Answer 2

customers

Question 3

Marketing activities are aimed at getting and keeping customers, which explain what

Answer 3

value creation

Question 4

Managing Customer Relationships: Key Questions

Answer 4

 What is the role of marketing in the organization?
 What is the difference between marketing and selling?
 How can markets be understood and leveraged through segmentation, targeting and positioning?
 How do products, services, pricing, promotion and place mix favorably?
 What are the cornerstones of a good marketing plan?

Question 5

Much of today’s business takes place in digital or in real life

Answer 5

Much of today’s business takes place in the digital realm, or at least uses the digital realm to its advantage

Question 6

Digital innovation is not only an opportunity for new business; it is also a significant threat to who

Answer 6

existing business, as it is a force that disrupts existing business models

Question 7

Managing Digital Innovation: Key Questions

Answer 7

 How does IT facilitate new business?
 How can such opportunities be found?
 How does the digital context influence the conduct of business?
 What is a platform?
 Which opportunities do big data introduce and how can they be found?

Question 8

the point of Operations is what

Answer 8

Operations makes sure that an organization is able to deliver the promises made by its marketers and salespeople, as promised, and on time

Question 9

The discipline of operations management focuses on what

Answer 9

the engineering aspect of organizing: the design of supply chains, and the processes of transforming inputs into outputs

Question 10

The discipline of operations management ranges from what

Answer 10

Its range extends from the manufacturing of products such as bottles of wine and iPads to the delivery of services such as the delivery of healthcare in its multiple forms

Question 11

Managing Processes: Key Questions

Answer 11

 How can an organization be understood as an intersection of processes?
 What are the essentials of analyzing processes?
 How do ‘push’ and ‘pull’ work as principles for controlling a
process?
 How do we balance between being able to satisfy demand from customers whilst securing efficient renewal of inventory?

Question 12

what is Strategy

Answer 12

Strategy integrates the organization by transcending functional perspectives in an effort of long-term survival and prosperity in a changing business environment

Question 13

The discipline of strategic management concentrates on what

Answer 13

choices in the organization that establish (or fail to establish) fit between the activities and resources of the enterprise, with the changing conditions of its business environment

Question 14

Managing the Enterprise: Key Questions

Answer 14

 What are the fundamental questions a business strategy must answer?
 What is competitive advantage and how does a firm develop and sustain one?
 How do firms choose where and how to compete?
 How can you analyze a firm’s competitive environment in
order to make choices about competing in it?
 What types of generic competitive strategies are there and what do they entail?
 How can you analyze and build activities within a firm to support such competitive choices?

Question 15

Business models explain what

Answer 15

the logic of value creation in an organization: what the organization does with what it’s got

Question 16

Activities need to make sense in the context of delivering a customer promise; what is important about this promise

Answer 16

promises that can’t be kept should not be made

Question 17

The concept of a business model suggests what

Answer 17

a framework of thinking about how all the core activities in the organization build ambitiously and realistically on the organization’s resources, and join together to make money or deliver some other form of intended good

Question 18

what is a case

Answer 18

A “case” is a written description of a realistic situation – an unstructured problem - faced by a manager, designed to provide you with an opportunity to learn by doing.

Question 19

Like the people in the case, you are expected to:

Answer 19

– Diagnose / determine problems and opportunities
– Analyze the situation giving rise to problems and opportunities
– Generate and evaluate alternative courses of action
– Recommend and justify a plan of action.

Question 20

What is a manager

Answer 20

A manager is someone who works with and through other people by coordinating and overseeing their work activities in order to accomplish organizational goals

Question 21

A manager strives for what

Answer 21

both high efficiency and high effectiveness.

Question 22

What managers do can be viewed from three different perspectives:

Answer 22

skills, functions, roles.

Question 23

Some benefits of studying Management include

Answer 23

universality, the impactful nature of managerial work, and the possibility that someday you may launch your own organization.

Question 24

what is Integrated Management

Answer 24

“Integrated management is management that appreciates the validity of different perspectives on value – management that constructively faces the tensions of different perspectives on value to innovate in ways that seek to transcend rather than accept putative trade-offs.”

Question 25

The organizations which make up our economic system cannot do what

Answer 25

continue to undermine the social and ecological systems in which they are embedded and upon which they depend.

Question 26

External stakeholders typically have different but valid perspectives on what

Answer 26

what is important – on what is social and ecological “value” – that need to be reconciled with economic value.

Question 27

what is conventional management

Answer 27

economic value outweighs health, social well being and sustainability

Question 28

what is Integrated Management

Answer 28

economic value, health, social well being and sustainability are all equal