Business Administration

A new development direction or tendency. 

The combination of fundamental reference objects into overriding reference worlds.

Large global, socio-economic or structural processes that we, as individuals, cannot influence or change and that we have to deal with in the future. 

Makes possible to recognize threats in different environm. areas (shift of global econ. growth from west to east asia) --> observation of developments and changes in customer needs. 

media analysis (by analyzing newspapers and magazins for their interpretation of the world and deducing trends from that)

Interpreting signs (specific languages, ways of expression like drawings or text message abbreviations)

Observers monitoring the development of a particular group or scene.

Interpreting the development of a particular group or scene, strongly influenced by a trained and experiences observer.

Concentrating experts from different fields in workshops for a limited amount of time to present and interpret different points of view and expectations for the future.

Identifying possible scenarios and weighing developments that might result (consequences)

Exper questionnaires in several rounds. --> first reults always returned summarized and revises

Extremely short-lived and often just about specific products (Tamagotchi)

short-to-medium-trend in specific product areas (buttom down suit jackets in fashion)

A medium-term industry or product trend (tourist destination)

For example a mega trend applying to business as whole or even society as a whole (increasing ageing of the pop / Liberalization /Technologization / differentiation of society / multi-optionalization / individualization and search for identity /scarcity of natural resources)

Method for identifying trends --> trends often result of different, interacting developments in the environment.

Strengths, weaknesses, opportunities, threats

Company level: Strengths and weaknesses analyzed in reference to all company functions such as funding/captial resources or strategic abilities/core competencies. opp./threat: a tightening credit policy

Marketing level: Analysis about product advantages and disadadvant. or strengths and weaknesses in reference to achieving marketing objectives (customer satisf.). opp./threat: demand trends and competitor behavior.

Outstanding product advantages in the market. (trend for lighter snacks --> special low fat baking process)

The general directions and approaches for reaching the marketing objectives. The implementation of the company strategy at the marketing level. --> determines company's behavior (by target markets, diff. from compet., positioning...)

1. Organization must serve its purpose in society and the economy.
--> legitimacy of the enterprise
2. Ensure its value for various stakeholders.
--> Viability: organization's ability to adjust to constantly changing environm. conditions

Static: About short-to-medium-term results and contributions to overriding objectives.

dynamic: ensure the long-term ability to reach the static marketing objectives.

the expression of a product's importance for satisfying the subjective needs.

(chops more wood than needed --> makes woodpile --> econ. value)

A set of organized elements with qualities linked by relations. 

(different cocoa producers, milk producers, means of transport)

Costs that arise from using the market. 

Socio-technical systems that provide goods and services for third parties.

(purpose oriented --> create added value --> arises from difference between input and output)

• Preview and planning (analysis, basis for organization)
• Organization
• Management
• Coordination
• Controlling

A reflective shaping practice.

(necessary to reach common views, agree on goals, achieve conviction about necessity of measures)

(communicate, reflect, convinve, stabilize, intervene and make decisions in a stream of events)

The possibility and survival space pertinent to an organization. 

Included:

• economic context (supplier relations, demand, markets)
• social/political context (local culture, political interests, legal framework)
• natural context (natural resources, location, etc.)

A simplified image of a complex reality.

It lets management become a "criticizable and optimizable reality". Offers structures and perspectives as an orientation in management practice --> strengthens ability to act.

A formal orientation model with the main objective of offering company decision-makers an orientation in their work, and a letter case for the meaningful. 

Organization-relevant representatives of different environmental spheres or discourses. 

(employees, suppliers, customers)

--> calculate the value of a company from their perspective --> from their potential added value shares. --> value of future dividends 

A situation where a company cooperates with another even though they compete on other markets at the same time. 

A development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

--> Not using more resources than it generates or which can be regenerated. 

Sustainable management with the objective of a balance between the value demands of internal and external stakeholders in the context of an increasingly global and networked stakeholder society. 

(effect of a company's actions on different environmental areas are recognized, assessed and lead to action consequences)

• normative
• strategic
• operational

Concerns itself with questions of long-term corporate objectives, values and norms that should inform actions in a company and with the underlying objective, which it is supposed to achieve in society and in the economy. 

--> responsible: owner/board of directors
--> Objective: viability/ securing long-term legitimacy of enterprise

Shaped at intersection of board of directors and the executive board.
--> objective: securing and developing profit potentials
       --->form of resources: inside-out perspective 
       --->form of external sources: exploitation of external resources (--> positive image of well-established brand)
 

The actors on every level of a company deal with it.
--> objective: economic viability or securing a sufficient added value.  --> success/liquidity/cash flow
--> tools: budget planning and process management (production/application of tools)

A purposeful, socio-technical system that produces goods and services for third parties for money. 

-->people produce goods/services to create added value. --> compensate stakeholders
--> without business processes: company doesn't create added value
--> business processes as indirect main purpose

A collection of activities that takes one or more kinds of input and creates an output that is of value to the customer. 

--> input derived directly from supplier/wholesale market
--> output delievered to customers/markets
--> important not to miss important developments and changed