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Tuesday, April 9th

Tuesday, April 9th. Test Friday! (Report Cards soon). Business Environments (Internal vs. External) The Business Cycle (recession, recovery, expansion, depression) Three styles of leadership Managing Resources No Notes!. Managing Resources.

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Tuesday, April 9th

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  1. Tuesday, April 9th

  2. Test Friday! (Report Cards soon) Business Environments (Internal vs. External) The Business Cycle (recession, recovery, expansion, depression) Three styles of leadership Managing Resources No Notes!

  3. Managing Resources Businesses have resources other than people that must also be managed. Many businesses have different managers for each of the following resource areas: Purchasing, Production, Marketing & Distribution, Research & Development, and Finance

  4. Purchasing A purchasing manager negotiates deals for the supply and delivery or raw materials, equipment, supplies, and goods for resale. Example A beverage company’s purchasing manager negotiates a small reduction in the the price of sugar (say $0.05 per kg). Doesn’t seem like a big savings but if the company uses 2 000 000 kg’s of sugar a year, the company will save $100 000 a year!

  5. Production Production managers ensure that their business makes the things it is supposed to make. They often have to arrange/coordinate play maintenance, shift scheduling, machinery repair, and technology improvements.

  6. Business Fact A japanese electronic company Maspro Denkoh Corp. needed to decide between Sotheby’s and Christie’s art sellers to sell it’s US$11.8 million Cezanna paintint. How did it make the decision? rock, paper, scissors! Christies scissors beat Sotheby’s paper.

  7. Marketing and Distribution • Managers try to ensure what the company produces gets sold. • They develop sales strategies (ads, promo’s, & publicity) • Focus on sales: • Direct : Sales reps • Indirect: catalogues, internet sales

  8. Research and Development

  9. Research and Development Creates new: products, services, or ways to produce existing products or services. Sometimes based on feedback from the marketplace. Prepare reports that help the purchasing, production, and marketing managers make decisions.

  10. (Last but not least…) Finance Aka comptroller Often an accountant Responsible for keeping records of the company’s financial transactions and controlling the company’s money and setting department budgets. http://www.math.harvard.edu/~knill/mathmovies/swf/office_surplus.html

  11. Wisdom, Rules, Incentives • A wise person knows: how to improvise, when to make the exception to the rule • http://www.ted.com/talks/barry_schwartz_on_our_loss_of_wisdom.html

  12. Ethical, Moral, and Legal Issue

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