Wirtschaftsenglisch SS20 at Hochschule Bochum

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Exemplary flashcards for Wirtschaftsenglisch SS20 at the Hochschule Bochum on StudySmarter:

What is a business?

Exemplary flashcards for Wirtschaftsenglisch SS20 at the Hochschule Bochum on StudySmarter:

Define: Product

Exemplary flashcards for Wirtschaftsenglisch SS20 at the Hochschule Bochum on StudySmarter:

Define: Service

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Exemplary flashcards for Wirtschaftsenglisch SS20 at the Hochschule Bochum on StudySmarter:

Define: Profit

Exemplary flashcards for Wirtschaftsenglisch SS20 at the Hochschule Bochum on StudySmarter:

Define: Stakeholder

Exemplary flashcards for Wirtschaftsenglisch SS20 at the Hochschule Bochum on StudySmarter:

Why can the interests of stakeholders conflikt?

Exemplary flashcards for Wirtschaftsenglisch SS20 at the Hochschule Bochum on StudySmarter:

What three resources does a business need? 

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Exemplary flashcards for Wirtschaftsenglisch SS20 at the Hochschule Bochum on StudySmarter:

What are the four basic fusiness functions?

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Is there a one-fits-all formula for business?

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What does succsessful management require?

Exemplary flashcards for Wirtschaftsenglisch SS20 at the Hochschule Bochum on StudySmarter:

How can we define success in management?

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Define: effectiveness and efficiency

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Exemplary flashcards for Wirtschaftsenglisch SS20 at the Hochschule Bochum on StudySmarter:

Wirtschaftsenglisch SS20

What is a business?

A business is an organisation that create goods or provide services to others to satisfy the desire of customers.

Wirtschaftsenglisch SS20

Define: Product

A product is a good that brings value to the customer by having specific tangible characteristicts.

Wirtschaftsenglisch SS20

Define: Service

A service is any activity with intangible chatacteristics that brings any kind of value to the customer.

Wirtschaftsenglisch SS20

Define: Profit

Profit is the amount of money that the company has left after selling their product or providing their service after paying their bills.

Wirtschaftsenglisch SS20

Define: Stakeholder

A stakeholder is any person or group that either is affected by a business or have an effect on the business.

Wirtschaftsenglisch SS20

Why can the interests of stakeholders conflikt?

The interests of stakeholders can conflikt, because they have different goals. For example do the owners and employees want low taxes and a high profit and the society want them to pay high taxes and provide their products and services for a low price.

Wirtschaftsenglisch SS20

What three resources does a business need? 

  • People to operate the business and develope ideas
  • Ideas to increase the customer satisfaction and the productivity
  • Capital to invest and execute new ideas.

Wirtschaftsenglisch SS20

What are the four basic fusiness functions?

  • Marketing is finding out what things do satisfy the customer, integrating these things into a products and try to get positive attention by potential customers as possible. 
  • Production is about developing, creating and manufacturing the products bevore delivering them to the customer.
  • Accounting is about analysing and summarizing all financial aspects in the operating business.
  • Finance are all the activities with the goal of getting money for the company by third parties and effective ressource using.

Wirtschaftsenglisch SS20

Is there a one-fits-all formula for business?

 No there is no one fits-all formula for business, because in the end it’s all about the people that are working in a company and there is not something like two similar people.

It is also about different stakeholders working together. 

Everyone have different strengths and weaknesses with them they work in different ways, even if they have the same task to do.

Wirtschaftsenglisch SS20

What does succsessful management require?

A succsesful management require individuals that base their actions on a clear strategy.

Wirtschaftsenglisch SS20

How can we define success in management?

A successful management can be defines by performance in effectivity and efficiency.

Wirtschaftsenglisch SS20

Define: effectiveness and efficiency

  • effectiveness: doing the thing that lead to a goal - doing the right things
  • efficiency: do the things with a good output-input ratio - doing the things right

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Personalmanagement

Organisation

Logistik und Beschaffung

Investition & Finanzierung

Grundlagen der Personalwirtschaft

Organisation und Unternehmensführung

Grundlagen BWL

Einführung in die BWL

Produktionsmanagement

Beschaffung und Logistik

Grundlagen Beschaffung & Logistik

Einführung in die BWL

Wirtschaftsrecht

Organisation 7Brock

Führung

Produktionsmanagement

Buchhaltung 20/21

Kostenrechnung 20/21

Wirtschaftsrecht BWL

Marketing

Mikroökonomik

Marketing

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