Intro to Business management
What is the UPS (Uniqie selling proposition)
It the unique feature that a product offers to be different from its competitors and gain market share.
What is the main objective of non-profit organization?
social purpose.
SMART stands for:
Specific
Measurable
Achievable
Relevant
Time-specific
What is the objective to run a STEEPLE analysis?
To understand the macro-external factors that can affect or influence the performance of a business and plann accordingly to the posssible scenarios.
What is the purpose of running a fishbone diagrame?
Identify the possible causes of a problem and set a plann to solve them.
How does intrapreneurhip differs from entrepreneurship?
Intra - inside of a company owned by others.
Entre - self-employed
Define surplus and it's formula
Extra revenue generated in a non profit organization.
Surplus= total reveneus - total cost
What is the relation between strategic and tactical objectives?
The tactical objectives are set to accomplsh the strategic objectives.
Distinguish between shareholders and stakeholders
Stakeholder are any individual or groups who have a dorect interest in a business, that will affect them directly.
Shareholders are part of this group.
What problems can a Gantt chart help a company to avoid?
Inefficient use of resources.
Miss due dates.
Plann witout accurate data, etc.
Waht is the chain of production?
Steps through the different sectors that must be made to turn raw materials into a consumer good.
Exlplain two disadvantanges of PPP
Decision making is complex
May be insufficient capital for growth
Insufficient capital for financial strength - lower profit then traditional for profit enterprises.
What is teh main difference between an aim and an objective?
The aim is long term and inpirational while an objective is medium to short term and calls to an action
How can stakeholder mapping help a manager?
Decide the different strategies that the business will place in order to satisfy their interests.
Explain the differnce between internal and external growth
Internal - organic, slow process, with company inernal resources.
External - fast, risk, acquiring or merging with a different company
6 elements of a business plan
Business idea, aims and objectives
Business organization
HR Finance MKT Operations
Why might a business decide to not go public?
Lose privacy
Has to allow potential investors to see accounts
No control over who buys shares
In the SWOT analysis, which clusters are for positive an negative internal factors?
Positive: Strenghts
Negative: Weaknesses
Explain the concept "early adaptor" in the context of the STEEPLE analysis
Being aware of the diffeerent factors that can affect the business, a company can be prepred to adapt fast an easy to the changes and have a first mover advantage.
Explain economy of scale.
When a business increases its scale of operations and in the process becomes more efficent in terms of unit product cost.
Explain Horizontal, vertical forward and vertical backwards integration and their main objective
Horizontal - through the launch of a new product or a merge in the same market - Objective: increase market share (increase sales and profit).
Vertical - aquiring or starting a new business in an earlier production state or to get closer to final consumer. Objective: advantage of economy of scale, improve product cost.
Contrast partnership and strategic alliance
Partnership between people
Strategic alliance between companies
What are the four strategies considered in the Ansoff matrix?
Market penetration
Product development
Market development
Diversification
How can a business operating in an ethical manner affect the financial results of the business?
Customer loyalty
Reducing legal redress
Increase profits
Satisfy customer's expectations
Developing a positive work environment and image
Explain two adventanges for the host country of a multinational company:
Economic growth
new ideas
skills transfer
more choice of products
short term infraestructure projects