M3 P1 Flashcards
Industry Forces:
Competitors
New entrants
Substitute products and services
Stakeholders
Supplier and other value chain actors
Key trends
Technology trends
Regulatory trends
Societal and cultural trends
Socioeconomic trends
Macro-economic Forces
- Global market Conditions
- Capital markets
- Commodities and other resources
- Economic Infrastructure
Market forces
Market Issues
Market Segments
Needs and demands
Switching cost
Revenue Attractiveness
is sum or collection of all internal and external factors such as employees, customers needs and expectations, supply and demand, management, clients, suppliers, owners, activities by government, innovation in technology, social trends, market trends, economic changes, etc.
Business Environment
is the fundamental management function, which involvesdeciding beforehand, what is to be done, when is it to be done, how it is to be done and who is going to do it.
It involves logical/critical thinking and rational decision making.
planning
Characteristics of Planning
- Decision making
- Managerial function
- Goal oriented
- Pervasive
- Continuous Activity
- Intellectual process
- Futuristic
Types of Plan
Strategic Plan
Tactical Plan
Operational Plan
Fishbone diagram
Gantt chart
describes the methods, policies and procedures used to achieve the strategic plans.
Tactical Plan
a high level overview of the entire business, its vision, mission, corporate goals, and values.
It is the framework/foundation of the organization which will be the basis of the long term decision.
Strategic Plan
is a network of internal responsibility and authority relationship,
Organization as a structure
is an entity – such as a company, an institution, or an association – comprising one or more people and having a particular purpose.
organization
Describes the day to day running of the company.
Outlines a roadmap to achieve the goal within the time frame.
Operational Plan
is the practice of turning over work-related tasks and/or authority to employees or subordinates.
Delegation
elements of delegation
responsibility
authority
accountability
is the process of organizing, planning, leading, and controlling resources within an organization with the overall aim of achieving its objectives
Management
five functions of great management
planning
organizing
leading
staffing
controlling
is a business entity having two or more owners who act as co-owner of the business.
Partnership
Two types of partnership:
General partnership
Limited partnership
the liability of the general partner extends up to his personal property
General partnership
The liability is only up to the extent of his contribution to the business.
Limited partnership
contributes money, property, and belongings
capitalist partner
provides service management or even his profession.
industrialist partner
“is an entity characterized by the state and treated as a person under the law.
corporation
Types of Corporation
Private or Close Corporation
Open Corporation
It is owned by a few individuals, usually relatives and friends. They limit ownership to the public and maintained common interest.
Private or Close Corporation
It is owned by any individual who buys shares of stock which are openly traded in the stock markets
Open Corporation
is a “duly registered association of persons, with common bond of interest, who have voluntary joined together to achieve a lawful common social or economic end, making equitable contributions to the capital required taking in accordance with the universally accepted principles of cooperation.
Cooperative
is the US-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.”
Limited Liability Company
Limited Liability Company
Domestic Corporation2
types of business
sole proprietorship
partnership
limited partnership
corporation
LLC
non-profit
co-op
