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what are the 6 external environments?
What does offshoring mean and why do managers decide to do it?
It means transfering activities to countries wich will do them more cost-efficiently. (most of the time western economies that transfer routine manufacturing activities to a low-wage developing countrie or due to faster communication over the internet even administrive activities such as accounting)
what does FDI stand for and what does it mean?
Foreign direct investment is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. (participation in management, transfer of technology and expertise) usually by inversting in buildings, physical facilities or by bying a companie
What is the difference between Licensing and Franchising?
Licensing is when a business grants the right to a firm in another country to produce and sell it's products. The licensing company does not control the business operations.
Franchising means that the franchisee uses another firm's succesfull business model and brand name. The seller imposes tight conditions on matters such as qualityand working procedures (Fast food)
what is a joint venture and what are the hazards?
It's an alliance in which the partners agree to form a seperate independent organisation for a specific business purpose. (starbucks in Germany with KarstadtQuelle) The hazards are cultural differences and misunderstanding between partners
what does Wholly-owned subsidiary mean?
It's a company whose stock is 100% owned by another company (a regular subsidiary's stock is 50-99% owned by another company)
what is the difference between the existential reason and the vision?
Existential reason --> fundament to exist because its products/services fulfill needs of its customers (could also be the government)
Vision --> is very attractive bt nobody is willing to pay an adequate price
What does USP mean?
Unique selling proposition (if you buy this you will get this specific benefit)
What are the 6 questions a company should ask themselves?
- is there a need which you can meet or create?
- are your customers willing and able to pay for it?
- who will cry in case you have disappeared from the market?
-which is your USP?
-are you able to develop new products/services to keep your USP
What are the 6 company types?
- small & medium Enterprises
- International Enterprises
- Multinational Enterprises
- Transnational Enterprises
- Global Enterprises
- Born Globals
There is no universally accepted definition of an SME
CH & EU --> Micro enterprise less than 10 employees and a turnover of no more than 2 Milliuon Euros/ Small enterprises less than 50 employees and a turnover of no more than 10 million. Medium enterprise no more than 250 employees and a turnover of no more than 50 million
what is the difference between an international enterprise and a multinational enterprise?
international--> do import and export but don't invest outside of their home country
MNE's--> major decisions are made by the managers in the home country but have significant production and marketing operations in many other countries.
What is the difference between transnational and global enterprises?
Transnational--> operate in many countries and delegate many decisions to local managers. They use local knowledge to build the business
Global--> global enterprises work in many countires. Production/service processes are performed and intergrated across many locations (as are ownership,control and top management)
what is the difference between a born global and a born again global?
Born global--> a company that form the beginning of its activities pursues a vision of being global (internationalization period)
Born again global--> established organizations that have previously focused on their domestic markets, but which suddenly embrace rapid and dedicated internationalization
what are the 4 ownership models?
State ownership--> SBB
Personal ownership--> Einzelunternehmen
Common ownership --> migros
Collective ownership --> Verein/shareholders
what ar the 3 customer focus models?
B2C --> Business to customer
B2B--> Business to business
B2B2C -->Business to Business to Consumer(midor-->migros)
what are the 3 external statements and what is the difference?
Vision statement--> desired future state of organization
Mission statement--> purpose of the organization for stakeholders and employees
Statement of Corporate Values--> core principles
what ressources does a company need to exist?
know how, money, infrastructure, customers, employees, and so on
what are the advantages and disadvantages of a functional organization?
Advantages: Simple, common interest --> good internal relations, use of expert knowledge, departments are well defined and easily controllable
Disadvantage: Conflict over priorities --> risk of department egoism, Many interfaces, limited possibilites for human resource development
what are the advantages and disadvantages of a divisional organisation?(product, customer, geographic divisions)
advantages: Staff focus on product and customer needs, High motivation in divisions to fulfil their tasks and can be easily evaluated, regional divisions use autonomy to meet local needs
Disadvantages: Divisions are isolated from development of the whole company, costs of duplication across organization (computer system), conflict with other divisions
what are the advantages and disadvantages of a Matrix Organization.
Advantages: Integrated knowledge, flexible structure according to customer needs, disburden top manager from operational responsibilities, staff gain variety of work experience, direct communication through product manager, better internal relations
Disadvantages: Unclear responsibilites (job/task/cost/profit), longer time to take decisions, conflict of competencies (to whom responisble), risk of overorganization/bureaucracy), high requirements for managers
advantages and disadvantages of a Network Organization
Advantages: Broad access to contacts, specialized knowledge, cost efficiency,
Disadvantages: Decentralized knowledge, Division of responsibilities Strong leadership and coordination required, coverage of financial risk
what are the advantages and disadvantages of a team organization
Advantages: Multiple competencies in the teams, solving of complex issues, decision making processes is filtered down to each member of a team
Disadvantages: Disappearance of knowledge, Team often temporary, Decentralized (can lead to coordination and control problems for management)