International management
the environment of business
the environment of business
Set of flashcards Details
| Flashcards | 140 |
|---|---|
| Language | English |
| Category | Macro-Economics |
| Level | University |
| Created / Updated | 12.10.2017 / 14.06.2020 |
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what are 3 performance imperatives?
Flexibility, Innovation, Efficient operations
What are the 5 setps according to clarkston change management approach?
1. Assess needs and build strategy
2. Engage leaders and finalize strategy
3. Engage employee base
4. Assess Readiness
5. Support transition
On what does the success of the lifecycle model depend?
Define objectives, Allocate responsibility, Fix deadlines and milestones, Set Budgets, Monitor and control
On what criteria does the success of the emergent model depend?
Learning during the project, adapting to changing conditions, managing interest group
On what criteria does the participative model depend?
Developing ownership and commitment, consulting widely for ideas, seeking consesnus
On what criteria does the success of the political model depend?
1. Building power sources, 2. Creating alliances and coalitions, 3. Manipulating information to support position
What are the 4 types of resistent characters?
Enthusiast, Followers, Objectors, Underground (are against the change but cant make ther resistant public)
What are the 4 elements needer by information systems?
People, Procedures, Software, Hardware
What are the stages for companies using the internet?
1. Information, 2. Interaction, 3. Transaction, 4. Integration, 5. Transformation
What are the types of information systems?
Management information systems: Executive information, Decision support, Information reporting
Operational Information Systems: Office automation, Process control, Transaction processing
what are the 3 approaches to communicate with customers?
1. One-to-many broadcast
2. Direct targeting
3. One-to-one interactive
What are the benefits of CRM Systems?
-Gather Customer data swiftly
-Identify most and least valuable customers
-increase loyalty by providing customized offers
-Reduce costs of maintaining and securing customers
What are the advantages and disadvantages of ERP (enterprise resource planning systems)?
Disadvantages: Generic systems may deminish uniqueness, promote centralization, complex to implement
Benefits: integrate customer and financial information, Standardize manufacturing processes and reduce inventory, Improve information for management decisions across sites, link suppliers and customers online
What are the 2 views of the KM (Knowledge Managment Systems)
Cognitive model--> uses explicit knowledge (academic knowledge), objective, codify & capture knowledge
Community model--> uses tacit knowledge (practical knowledge), based on experience, encourage individuals and groups to share knowledge
What are the 3 benefits provided by the Internet of Things?
1. Business cost optimization, 2. Digital business, 3. IT Cost optimization
what is the difference between internal environment and external environment (general environment)?
Internal--> within organisation (technologies, structure, business process)
External/general--> industry-specific environment (organizations customers, suppliers and competitors)
what does PESTEL stand for?
-Political
-Economic
-Socio-cultural
-Technological
-environmental
-Legal
give some examples for the Environmental influences from each PESTEL Letter
give some examples for the PESTEL letters in an INTERNATIONAL context
what are the 5 competitors in the five forces analysis
Suppliers, Customers,Competitors,Potential entrants, Substitutes
When does strong competitive rivalry occur?
-many firms but none dominant
-market is growing slowly
-high fixed costs
what can encourage new entrants?
-low costs of equipment and facilities
-readily available distribution facilities
-minimal loyalty to established company
-no relevant subsidies/regulations favoring existing firms
Bargain power of buyers will decrease profit if:
-many alternative products or suppliers
-cost of switching to other products is low
-buyer takes high percentage of supplier's sale
.
A product is easy to substitute if:
-buyers are willing to change buying habits
-technological developments enable new products and services
-transport costs fall
-new suppliers enter the market
Rising power of supplier reduces profit if:
-few alternative products of suppliers
-cost of switching suppliers are high
-buyers takes small percentage of sales
what does economy of scale mean?
Economie of scale exists when the per unit cost of production fallsas the volume of production increases (the more you produe, the cheaper)
what does economy of scope mean?
lowering average costs by producing more types of products
what does corporate governance mean?
rules and processes intended to control thos responsible for managing an organisation
what does the theory of absolute advantage mean?
Trade theory which proposes that by specialising in producing goods and services which they can produce more efficiently than others and than trading them nations will increase their economic wealth
what does the economic context of a country include?
stage of development, levels of inflation, exchange rates, levels of debt,
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