at Duale Hochschule Baden-Württemberg

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What management schools exist?

Tsoukas paper

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What is/does an organisation?

An organisation uses resources to provide things the market needs

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Which production factors exist?

land
capital
labour
entrepreneur(ship)
Information resources

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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

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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

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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

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What does Business Administration do?

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

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How can the external environment of a company be analysed?

PESTLE analysis

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What does PESTLE stand for?

Political

Economical

Sociological

Technological

Legal

Environmental

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What is called "economy of scale"?

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

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What are "markets"?

Mechanisms for exchange between buyers and sellers of a particular good

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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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Stanley - BUSINESS & MANAGEMENT at Duale Hochschule Baden-Württemberg

Flashcards and summaries for Stanley - BUSINESS & MANAGEMENT at the Duale Hochschule Baden-Württemberg

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