Management at TU München

Flashcards and summaries for Management at the TU München

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Study with flashcards and summaries for the course Management at the TU München

Exemplary flashcards for Management at the TU München on StudySmarter:

Maximum principle

Exemplary flashcards for Management at the TU München on StudySmarter:

Resource Allocation to SBUs

Exemplary flashcards for Management at the TU München on StudySmarter:

Defining the Business

Exemplary flashcards for Management at the TU München on StudySmarter:

Defining the Mission

Exemplary flashcards for Management at the TU München on StudySmarter:

Planning activities

Exemplary flashcards for Management at the TU München on StudySmarter:

Corporate sustainability

Exemplary flashcards for Management at the TU München on StudySmarter:

Implications of the stakeholder concept

Exemplary flashcards for Management at the TU München on StudySmarter:

Stakeholders

Exemplary flashcards for Management at the TU München on StudySmarter:

Economic Darwinism

Exemplary flashcards for Management at the TU München on StudySmarter:

The principle of financial balance

Exemplary flashcards for Management at the TU München on StudySmarter:

Principle of pursuing profit (“Erwerbswirtschaftliches Prinzip”):

Exemplary flashcards for Management at the TU München on StudySmarter:

Minimum principle

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Exemplary flashcards for Management at the TU München on StudySmarter:

Management

Maximum principle

E =
Actual performance
Target performance

Maximize outcome with given resources

Management

Resource Allocation to SBUs

Purpose of Strategic Business Units (SBUs):
Develop separate strategies and assign appropriate funding to business
that can be managed independently from each other.
Three characteristics:
§ Single business, or collection of related businesses,
that can be planned separately from the rest
§ There is an own set of competitors for each strategic business unit
§ A manager is responsible for planning and profit performance

Management

Defining the Business

Organizations should consider their business as a
customer-satisfying process that delivers expected value

Management

Defining the Mission

The mission should answer the following questions:
1. What is our business?
2. Who are our customers?
3. What is the value to our customers?
4. What will our business be?
5. What should our business be?
Mission statement

Management

Planning activities

I. Defining the mission
II. Defining the business
III. Assigning resources to each strategic business unit
IV.Assessing growth opportunities

Management

Corporate sustainability

§ Economic dimension:
Secure the company’s future profits.
§ Ecological dimension:
Preserve the company’s natural environment.
§ Social dimension:
Take responsibility towards the company’s employees and the society
Corporate Social Responsibility (CSR)
Actions that serve the society, produce something good, and go beyond what is
required by law (e.g., focus on the environment and social causes that
organizations do not have to fulfill by law).

Management

Implications of the stakeholder concept

Organizations have to provide incentives in order to receive expected
benefits from stakeholders.
Organizations should keep balance between interests of the stakeholders;
companies should not concentrate on interests of one stakeholder (over the
other) in the long run if this affects the relationships to other stakeholders
negatively.
The relationships between organizations are not only monetary, but also
non-monetary (e.g., personal communication, public relations).

Management

Stakeholders

Stakeholders are advocacy groups that have certain expectations from
organizations or that expect contributions from them.
An organization can be considered as an “open system,“ which is tied to the
environment in various ways.

Management

Economic Darwinism

An organization that does not follow the principle of pursuing profits will
disappear from the market.

Management

The principle of financial balance

The principle of financial balance is a secondary condition of the
principle of pursuing profits:
§ At any given point in time, organizations should be able
to meet their payment obligations
§ Illiquidity will lead to bankruptcy

Management

Principle of pursuing profit (“Erwerbswirtschaftliches Prinzip”):

The main goal of entrepreneurial activity in a company is making as much
profit as possible.
Profit = turnover – costs
with: turnover = sales volume × sales price
The return on investment indicates the degree to which capital yields
interest during a certain time span.
Return on equity:
rOE
profit
=
equity
Return on assets:
rOA
=
profit + interest on borrowed capital
equity + debt
× 100
28
× 100

Management

Minimum principle

E =
Target costs
Actual costs

Minimize effort to achieve a certain goal

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Anatomie der inneren Organe

Biochemie

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Psychologische & Pädagogische Basiskompetenz

PSYCHO 1 FRAGEN PROF

Forschung 2 AK

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Anatomie 2 AK 2015

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Anatomie 2016 AK

Anatomie 2 AK 2018

Psychologische & Pädagogische AK 2020

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