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Which factors influence an Organization's Mission?
Cultural Context
The basic levels of standards for quality of products / services are:
international availability
Name 3 methods of economic action (negotiation & calculation)
1. with given INPUT achieve maximum OUTPUT
2. achive given OUTPUT with minimal INPUT
3. coordinate IN- & OUTPUT to optimize economic process
How can profitability be described?
Evaluating the efficacy (of alternatives) by measuring the earnings per effort or investment.
Describe "organizational culture".
The organizational culture is a set of attitudes, values and behavior wihch evolve over time. It facilitates integration & adjustments to the ext. environment.
What is the difference of a Strategic and a Planning Process?
The planning process has 3 Steps: analyze situation, formulate action plan, implement steps.
The strategic process adds a Step before and after the plan. proc.:
First of all define a vison, execute planning process and finally manage the process.
In that way the process has a clear idea from the beginning and gets altered when and where needed after its executed.
Name 5 Stakeholders that can influence business.
- Suppliers
- Customers
- Owners
- Activist Groups
- Government
Describe frugal innovation
Frugal innovation is a combination of acquiring / developing technologies and altering business models.
It's commited on serving unserved cutsomers and focuses on people (not just profit/salary)
Explain what the terms science & art mean regarding to org. management
Science:
using accepted term/numbers to describe a probleme
Art:
applying a solution to a problem in reality
Name a few methods of how profitability can be increased in the "economies of scope"
- change of demand-site
- cost savings (using by-products)
- synergies of producing/marketing for diff. products
Name a few methods of how profitability can be increased in the "econmies of scale"
- efficient change of supplier
- reducing unit costs by increasing amount produced
- increasing returns to scale
Which factors determine transaction costs?
Apart from the costs of buying & selling, other relevant determinants are human flaws (uncertainty of managers, oppurtunistic suppliers) and the market inefficiency (specificity & frequency of transaction)
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