Strategic Management an der TU München | Karteikarten & Zusammenfassungen

Lernmaterialien für Strategic Management an der TU München

Greife auf kostenlose Karteikarten, Zusammenfassungen, Übungsaufgaben und Altklausuren für deinen Strategic Management Kurs an der TU München zu.

TESTE DEIN WISSEN

Describe the process of management as the central function in developing a business.

Lösung anzeigen
TESTE DEIN WISSEN

A business requires demand (= customers that have motives - they want something, and willingness to pay). A management's perception of the existing explicit or implicit demand could lead to a "solution" (of how to satisfy the demand) for which resources are required -> so the management acquires them and creates a value out of them that can be exchanged -> leads to a purchase and consumption by customers which may lead to additional demand (repeating the process).

Lösung ausblenden
TESTE DEIN WISSEN

Describe the flow of goods, information and currency in an organization.

Lösung anzeigen
TESTE DEIN WISSEN

Customers put currency into the organization in order to get goods. But in order to deliver the products and services, management needs information in order to organize the flow of goods, currency (not only money, also attention to advertisements...) and information. Flow of goods also has to be organized from a suppliers' perspective which supply resources that are then used in the different value chain functions (R&D, purchasing...).

Lösung ausblenden
TESTE DEIN WISSEN

What are core value chain functions and the supporting functions?

Lösung anzeigen
TESTE DEIN WISSEN

Core: R&D, purchasing, production, marketing & sales

Supporting: finance & accounting, legal services, HR, IT

Lösung ausblenden
TESTE DEIN WISSEN

What are the different external relationships that organization has and based on what are they managed?

Lösung anzeigen
TESTE DEIN WISSEN

1) shareholders

2) customers (consumers and companies)

3) sources of supply (employees, suppliers, creditors)

4) public (country and society)

...all of them often from different countries
- based on corporate governance (by CEOs)

Lösung ausblenden
TESTE DEIN WISSEN

What are the four categories of objectives, their subcategories and some examples?

Lösung anzeigen
TESTE DEIN WISSEN

1) level of achievement (maximizing/optimizing x satisfying - rarely do companies aim to maximize)

2) monetarity (financial x non-financial - a production plan, usually a prerequisite for financial objectives)

3) time horizon (short-term x long-term; can differ in industries)

4) concreteness (concrete x unconcrete - to increase sales but not by how much or how fast)

Lösung ausblenden
TESTE DEIN WISSEN

What are the three stages of decision-making process?

Lösung anzeigen
TESTE DEIN WISSEN

1) initiation

2) formulation

3) implementation

Lösung ausblenden
TESTE DEIN WISSEN

What does initiation in the decision-making process entail?

Lösung anzeigen
TESTE DEIN WISSEN

Problem identification:

1) perception

2) identification

3) structuring: to make problems easier to handle, divide into subproblems etc.

4) processing: who works on what, who reports to whom etc.

Lösung ausblenden
TESTE DEIN WISSEN

What does formulation in the decision-making process entail?

Lösung anzeigen
TESTE DEIN WISSEN

Objectives setting:

1) types of objectives

2) level of achievement

3) time horizon

4) concreteness


Searching for alternatives:

1) External and internal analysis

2) Options (stand-alone)

3) Options (programs)

- options must be substitutable to each other – stand-alone options: separate, individual – investment in Poland; programs: investments in Bulgaria, Poland…


Evaluation and decision:

1) Utility/value

2) Costs

3) Risks/selection

- create ranking -> select alternative that fulfills my objective the best

Lösung ausblenden
TESTE DEIN WISSEN

What does implementation in the decision-making process entail?

Lösung anzeigen
TESTE DEIN WISSEN

Organizational adaptation:

1) Structures/responsibilites

2) Processes

3) Systems

4) Culture, governance, ownership


Control

1) compare objectives and results

2) compare before and after

3) Initiate new processes

Lösung ausblenden
TESTE DEIN WISSEN

What are the alternatives to conscious decision-making and acting?

Lösung anzeigen
TESTE DEIN WISSEN

1) Being inactive in making decisions or implementing the ones that have already been made

2) Routines (Conscious management routine or nonconciousness = gut feeling)

3) Gambling (bet for luck)

Lösung ausblenden
TESTE DEIN WISSEN

What is the difference between a manager, owner and a supervisor?

Lösung anzeigen
TESTE DEIN WISSEN

Manager manages.

Owner has the rights to nominate a board of supervisory members and sell his shares of the company.

Supervisor supervises but doesn't have the right to make decisions.

Lösung ausblenden
TESTE DEIN WISSEN

What is management? (6 functions)

Lösung anzeigen
TESTE DEIN WISSEN

1) managing a business (the central function in developing a business)

2) managing an organization (coordination of internal relationships)

3) organizing a flow of goods, information and currency (coordination of internal and external flows)

4) managing relationships to stakeholders (coordination of external relationships)

5) managing non-managers, other managers and yourself (coordination and motivation towards humans)

6) making decisions and implementing them

Lösung ausblenden
  • 357466 Karteikarten
  • 8304 Studierende
  • 335 Lernmaterialien

Beispielhafte Karteikarten für deinen Strategic Management Kurs an der TU München - von Kommilitonen auf StudySmarter erstellt!

Q:

Describe the process of management as the central function in developing a business.

A:

A business requires demand (= customers that have motives - they want something, and willingness to pay). A management's perception of the existing explicit or implicit demand could lead to a "solution" (of how to satisfy the demand) for which resources are required -> so the management acquires them and creates a value out of them that can be exchanged -> leads to a purchase and consumption by customers which may lead to additional demand (repeating the process).

Q:

Describe the flow of goods, information and currency in an organization.

A:

Customers put currency into the organization in order to get goods. But in order to deliver the products and services, management needs information in order to organize the flow of goods, currency (not only money, also attention to advertisements...) and information. Flow of goods also has to be organized from a suppliers' perspective which supply resources that are then used in the different value chain functions (R&D, purchasing...).

Q:

What are core value chain functions and the supporting functions?

A:

Core: R&D, purchasing, production, marketing & sales

Supporting: finance & accounting, legal services, HR, IT

Q:

What are the different external relationships that organization has and based on what are they managed?

A:

1) shareholders

2) customers (consumers and companies)

3) sources of supply (employees, suppliers, creditors)

4) public (country and society)

...all of them often from different countries
- based on corporate governance (by CEOs)

Q:

What are the four categories of objectives, their subcategories and some examples?

A:

1) level of achievement (maximizing/optimizing x satisfying - rarely do companies aim to maximize)

2) monetarity (financial x non-financial - a production plan, usually a prerequisite for financial objectives)

3) time horizon (short-term x long-term; can differ in industries)

4) concreteness (concrete x unconcrete - to increase sales but not by how much or how fast)

Mehr Karteikarten anzeigen
Q:

What are the three stages of decision-making process?

A:

1) initiation

2) formulation

3) implementation

Q:

What does initiation in the decision-making process entail?

A:

Problem identification:

1) perception

2) identification

3) structuring: to make problems easier to handle, divide into subproblems etc.

4) processing: who works on what, who reports to whom etc.

Q:

What does formulation in the decision-making process entail?

A:

Objectives setting:

1) types of objectives

2) level of achievement

3) time horizon

4) concreteness


Searching for alternatives:

1) External and internal analysis

2) Options (stand-alone)

3) Options (programs)

- options must be substitutable to each other – stand-alone options: separate, individual – investment in Poland; programs: investments in Bulgaria, Poland…


Evaluation and decision:

1) Utility/value

2) Costs

3) Risks/selection

- create ranking -> select alternative that fulfills my objective the best

Q:

What does implementation in the decision-making process entail?

A:

Organizational adaptation:

1) Structures/responsibilites

2) Processes

3) Systems

4) Culture, governance, ownership


Control

1) compare objectives and results

2) compare before and after

3) Initiate new processes

Q:

What are the alternatives to conscious decision-making and acting?

A:

1) Being inactive in making decisions or implementing the ones that have already been made

2) Routines (Conscious management routine or nonconciousness = gut feeling)

3) Gambling (bet for luck)

Q:

What is the difference between a manager, owner and a supervisor?

A:

Manager manages.

Owner has the rights to nominate a board of supervisory members and sell his shares of the company.

Supervisor supervises but doesn't have the right to make decisions.

Q:

What is management? (6 functions)

A:

1) managing a business (the central function in developing a business)

2) managing an organization (coordination of internal relationships)

3) organizing a flow of goods, information and currency (coordination of internal and external flows)

4) managing relationships to stakeholders (coordination of external relationships)

5) managing non-managers, other managers and yourself (coordination and motivation towards humans)

6) making decisions and implementing them

Strategic Management

Erstelle und finde Lernmaterialien auf StudySmarter.

Greife kostenlos auf tausende geteilte Karteikarten, Zusammenfassungen, Altklausuren und mehr zu.

Jetzt loslegen

Das sind die beliebtesten Strategic Management Kurse im gesamten StudySmarter Universum

Management & Strategie

Fachhochschule St. Pölten

Zum Kurs
Strategisches Management

Fachhochschule Burgenland

Zum Kurs

Die all-in-one Lernapp für Studierende

Greife auf Millionen geteilter Lernmaterialien der StudySmarter Community zu
Kostenlos anmelden Strategic Management
Erstelle Karteikarten und Zusammenfassungen mit den StudySmarter Tools
Kostenlos loslegen Strategic Management