International management
the environment of business
the environment of business
Kartei Details
| Karten | 140 |
|---|---|
| Sprache | English |
| Kategorie | VWL |
| Stufe | Universität |
| Erstellt / Aktualisiert | 12.10.2017 / 14.06.2020 |
| Weblink |
https://card2brain.ch/box/20171012_international_management
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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,
what is the structure of responsibility?
Subject (coorperation) -->causes --> for consequences --> responds to which question --> to authorities -->judges --> subject
what is triple corporate responsibility
Economic dimensiom, Social dimension, ecological dimension
what are the 3 stages of moral development?
1.Self preservation 2. Co-preservation 3. Preservation of whole
What does sustainability mean?
Sustainable development should satisfy current requirements so that future generations are NOT disadvantaged
What is ethics?
getting along well witch each other
what is meant by "getting along well"?
-survival
-wellbeing
-security
-justice
-dignity
etc.
what is meant by "With eachother"?
-fellow (Face toface)
-all human beings
-all living beings
-all existing beings
- future generations
-shareholders
-all stakeholders
what is the difference between virtue ethics, utilitarian ethics and deontological ethics?
virtue ethics --> bettering coorperate culture
utilitarian ethics --> reducing risk for stakeholders (risk managment utilitarian ethic calculations)
Deontological ethics--> Golden rule/ UN Global compact
what is corruption?
corruption is the misuse of public power for private gain
why should we fight corruption? (macro-economic)
-Disortion of competition
-misinvestment
-misuse of resources
-lower quality level
-decreased willingness to invest in countries that are susceptiblte to corruption
why should we counter corruption (micro economic)?
-damage of reputation and trust
-susceptible to blackmailing
-
why should we counter corruption (social and political reasons)
-decrease of trust in governmental institutions
-violation of democratic principles
-disregard of common interest (Enriching few exploiting the majority)
name 3 international tools to counter corruption
UN convention against Corruption,UN Tool Kit
Criminal law convention on Corruption,
what is the difference between corporate responsibility and strategic corporate responsibility management?
CR --> Responsibility of companies to contribu5te to the solution of societal challenges
SCRM--> Managment measures that address societal challenges and at the same time increase the company success
what are the 4 steps of the carroll pyramid?
From bottom to top:
Economic responsibilities (be profitable), Legal responsibilities(obey the law), Ethical responsibilities(Be ethical), Philanthropic responsibilities(be a good corporate citizen)
how is CRM beneficial for a company?
-Stakeholders can punish or reward companies,therefore it fcan be economically wiswe to react to stakeholder expectations
-Creating shared value --> win-win-situations for society and the company
what does a stakeholder theory look like?
what does stakehoolder theory hold?
-Societal challenges become CR issues for a company if there is a gap between stakeholder expectations and company behavior
-Stakeholders react to company's decisions (purchasing decisions, investment decisions, critics in media)
what does a value chain look like and what are some of the CR issues along it?
what does CSV stand for and what is it?
Creating shared value, bridge economy and society, operating practices that enhance the competitiveness of a company while simultaneously advancing the economic and social conditions in the communities in which it operates
what are methods to CSV?
-Reconceiving products and markets (product innovations)
-Redefining productivity in the value chain(securing of resources, efficiency)
what are value drivers of CR?
-Product innovation/differentiation
-Process innovation/efficiency/securing of resources
-Reputation/public opinion
-Risk position
what does the internal analysis identify and evaluate?
-Resources
-capabilities
-core competences
how can you differentiate resources?
-Tangible resources
-intangilbe resources
whate are core competencies?
resources and capabiliteis that serve as a source of competitive advantages over rivals
