Stanley - BUSINESS & MANAGEMENT at Duale Hochschule Baden-Württemberg

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Exemplary flashcards for Stanley - BUSINESS & MANAGEMENT at the Duale Hochschule Baden-Württemberg on StudySmarter:

What management schools exist?

Exemplary flashcards for Stanley - BUSINESS & MANAGEMENT at the Duale Hochschule Baden-Württemberg on StudySmarter:

What is/does an organisation?

Exemplary flashcards for Stanley - BUSINESS & MANAGEMENT at the Duale Hochschule Baden-Württemberg on StudySmarter:

Which production factors exist?

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Exemplary flashcards for Stanley - BUSINESS & MANAGEMENT at the Duale Hochschule Baden-Württemberg on StudySmarter:

Name the business sectors and their tasks.

Exemplary flashcards for Stanley - BUSINESS & MANAGEMENT at the Duale Hochschule Baden-Württemberg on StudySmarter:

What are the core business functions and what do they do?

Exemplary flashcards for Stanley - BUSINESS & MANAGEMENT at the Duale Hochschule Baden-Württemberg on StudySmarter:

What does Management do?

Exemplary flashcards for Stanley - BUSINESS & MANAGEMENT at the Duale Hochschule Baden-Württemberg on StudySmarter:

What does Business Administration do?

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How can the external environment of a company be analysed?

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What does PESTLE stand for?

Exemplary flashcards for Stanley - BUSINESS & MANAGEMENT at the Duale Hochschule Baden-Württemberg on StudySmarter:

What is called "economy of scale"?

Exemplary flashcards for Stanley - BUSINESS & MANAGEMENT at the Duale Hochschule Baden-Württemberg on StudySmarter:

What are "markets"?

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What is the "market size"?

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Exemplary flashcards for Stanley - BUSINESS & MANAGEMENT at the Duale Hochschule Baden-Württemberg on StudySmarter:

Stanley - BUSINESS & MANAGEMENT

What management schools exist?

Tsoukas paper

Stanley - BUSINESS & MANAGEMENT

What is/does an organisation?

An organisation uses resources to provide things the market needs

Stanley - BUSINESS & MANAGEMENT

Which production factors exist?

  1. land
  2. capital
  3. labour
  4. entrepreneur(ship)
  5. Information resources

Stanley - BUSINESS & MANAGEMENT

Name the business sectors and their tasks.

  • primary: extraction of raw materials
    • heavily regulated by government
  • secondary: processing industry
  • tertiary: provision of services


  • ICT (information and communications technology) is partly named as fourth sector but it is more an integrated function in the other sectors 

Stanley - BUSINESS & MANAGEMENT

What are the core business functions and what do they do?

  • Operations / Production
    • organising the production of goods and services 
  • HRM
    • organising the Human Resources
    • finding people, motivating, training
  • Marketing
    • link between business and the consumer
    • price, promotion,...
  • Accounting
    • provides financial resources and information about companies' performance

Stanley - BUSINESS & MANAGEMENT

What does Management do?

The process of dealing with or controlling things and/or people. The conducting or supervising of something for someone.


  • Planning
    • determine what we do/need
  • Organising
    • organise resources in the best way
  • Leading
    • guide and motivate people
  • Controlling
    • monitoring of companies' goals

Stanley - BUSINESS & MANAGEMENT

What does Business Administration do?

The process or activity of running a business. The performance of executive duties.

Stanley - BUSINESS & MANAGEMENT

How can the external environment of a company be analysed?

PESTLE analysis


Stanley - BUSINESS & MANAGEMENT

What does PESTLE stand for?

Political

Economical

Sociological

Technological

Legal

Environmental

Stanley - BUSINESS & MANAGEMENT

What is called "economy of scale"?

  • saving costs gained by increased level of production (volume discount)

Stanley - BUSINESS & MANAGEMENT

What are "markets"?

Mechanisms for exchange between buyers and sellers of a particular good

Stanley - BUSINESS & MANAGEMENT

What is the "market size"?

  • measurable volume of the market
  • sales that all companies in one market achieve 


  • market size can be specified by volume (pieces), by value (money),...

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