Introduction to Business, Management and Economics

Muhamad SHABAREK
Muhamad SHABAREKJCI Syria 2017 National President, Sr. Economic Development Expert (Project Implementation), MSc Governance and Policy
••
Management BY MUHAMAD SHABAREK Damascus, 1 March 2014
WHO’S IN THE ROOM? 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 2
What is Business? Definitions of Business Business has three dimensions of a meaning ◦ A commerce ◦ An occupation ◦ An organization 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 3
Definitions: “Business as a commerce is the process that people produce, exchange and trade goods and services” “Business as an occupation is the acquired set of specialized skills and abilities that allows people to create valuable goods and services” “Business as an organization is the system of task and authority relationship that coordinates and controls the interactions between people so that they work toward a common goal” “Business as a system is a combination of business commerce, occupations, and organizations that produces and distributes the goods and services that create value for people in a society” 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 4
Factors of Production Regardless of meaning there are four crucial ingredients or productive factors or resources of: 1. Land 2. Labor 3. Capital 4. Enterprise that are needed to profit from business and are limited in supply (scarcity) A company must use them efficiently and effectively to produce goods and services These resources allow for the creation of a product and/or service that customers value a price 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 5
Efficiency and Effectiveness Doing things right 1/3/2014 Doing the right things IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 6
Definition of Economics “Use of scarce resources to produce goods/services, distribute them among competing groups/individuals“ Two types of economics: Micro- and Macro- 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 7
Three Economic Systems Mixed Socialism (Highly Controlled) Communism 1/3/2014 (Little Control) Capitalism IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 8
Capitalism Private Property Profit/Ownership Freedom of Competition Freedom of Choice 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 9
Communism Public Ownership ◦ Productive Capacity ◦ Capital Central Planning/Controlled Economy Managers = Mandatory Party Membership 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 10
Socialism Private & Public Ownership Some Choices are Limited Creates Social Equality & Equality of Results Reduces Individual Incentive 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 11
Mixed Economies Free-Market Economy = Capitalism Command Economy ◦ Socialism ◦ Communism Trend Results in Blend ◦ Capitalism > Socialism ◦ Socialism > Capitalism 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 12
Supply and Demand All business activity is self-interested and competitive, and this competition may benefit people and society when it leads resources to be employed in their most profitable use The forces of supply and demand determine a product’s market price In turn, supply and demand are the result of peoples’ subjective judgment of the value or utility they will receive from supplying or consuming a particular product 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 13
Law of Demand Reflects the usefulness or utility from that product Given the price of a product or service, we generally demand less quantity of it as the price increases and demand more of it as the prices decreases Law of Supply Sellers are more willing to supply a product as the price increases and less willing to supply as the price decreases 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 14
1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 15
Degrees of Competition Monopolistic Oligopoly Competition One Many Sellers Monopoly 1/3/2014 Pure Competition IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 16
Monopoly = One Seller Diamonds Utilities 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 17
Oligopoly = Few Sellers Tobacco Automobiles 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 18
Monopolistic Competition Many Sellers With Perceived Differences Fast Food ◦ Colleges ◦ 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 19
Pure Competition Sellers Buyer 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 20
Limitations of Free-Market Inequality of Wealth- Causes National & World Tension Potential Environmental Damage Limitations Push Country towards Socialism = Government Regulation 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 21
Government’s Role in Economics Enforces Rules/Regulations Provides Public Goods Transfers Payments Fosters Competition Contributes to Economic Stability 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 22
Industrialized (Nations Tax Rate) U.S. Austria/Japan Italy Canada Germany Spain/Sweden France Finland Denmark 0% 10% 20% 30% 40% 50% 60% 70% Source: Parade Magazine, Apr. 12, 1998. 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 23
Where Does the Government Get Its Money 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 24
1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 25
Key Economic Indicators Gross Domestic Product (GDP) Unemployment Rate Price Indexes ◦ Consumer Price Index(CPI) ◦ Producer Price Index(PPI) 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 26
What Makes Up the Consumer Price Index Recreation Apparel 5% 6% Other 5% Medical Care/ Insurance 7% Medical Care 6% Housing & Util. 39% Food & Beverage 16% Transportation 18% 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 27
Economic Scenarios Inflation vs. Deflation = #Dollars Chasing Amount of Goods/Services Recession & Depression = Degrees of Severity Federal Reserve Attempts to Control 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 28
Government Economic Tools Monetary Policy- management of money supply Fiscal Policy- management of taxes and government expenditures National Debt 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 29
Why Trade With Other Nations? Reasons No nation can produce all its needs Mutually beneficial exchange Natural Resources or Technology- Produce or Buy? Free Trade Theories of Advantage 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 30
Theories of Advantage Absolute = Virtual Monopoly South Africa Output per Unit of Input The Rest of the World Diamond Production 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 31
Theories of Advantage Comparative U. S. China China U. S. Output per Unit of Input Software 1/3/2014 Clothing IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 32
Specialize & Trade Software Clothing 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 33
Import Goods- Money Goes Out of Country Export Goods- Money Comes Into the Country 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 34
Trade Deficits/Surpluses- Balance of Trade(1999) U. S. Exports to Japan Food/Beverages  Raw Materials  Chemicals & Pharmaceuticals  $58.6 Billion 1/3/2014 Japan Exports to U.S. Computers & Telecommunications  Cars/Trucks  Consumer Products  Semi-Finished Goods  $113.9 B IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 35
1999 Balance of Trade $58.6 B Goods To Japan $113.9 B Goods From Japan Yen to U.S. $55.3 B Dollars to Japan U.S. Balance of Payments = Unfavorable 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 36
Modes of Entry into the Global Markets 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 37
Forces Affecting Trading in Global Markets Sociocultural Economic/Currency Shifts Legal/Regulatory Physical/Environmental Protectionism Global E-Commerce 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 38
Protectionism Mercantilism Tariffs ◦ Protective ◦ Revenue Import Quota & Embargo 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 39
Trade Agreements/Unions General Agreement on Tariffs and Trade (GATT)- WTO Common Markets/European Union North American Free Trade Agreement (NAFTA) 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 40
Exchange Rates- U. S. Dollars to Other Currencies $ Goes Down- Increases Demand for U. S. Products ◦ Balance of Trade Improves 1/3/2014 $ Goes Up- Decreases Demand for U. S. Products ◦ Balance of Trade Widens IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 41
Basic Forms of Ownership Sole Proprietorship Partnership Corporation 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 42
Sole Proprietorship Advantages Disadvantages Ease of start/end Unlimited liability Be your own boss Limited financial resources Difficulty in mgmt. Pride of ownership Retain profit No special taxes 1/3/2014 Time commitment Few fringe benefits Limited growth Limited life span IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 43
Partnership Advantages More financial resources Shared mgmt. Longer survival Disadvantages Unlimited liability Division of profits Disagreements among partners Difficult to terminate 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 44
Types of Partnerships General Limited GP GP GP Passive Investor Passive GP Investor GP Passive Investor 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 45
Uniform Partnership Act Common Ownership Shared Profits & Losses Management Participation 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 46
Types of Corporations Regular ‘C’ Subchapter ‘S’ Limited Liability Corporation 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 47
Corporation Advantages Disadvantages More money for investment Limited liability Separation of ownership/mgmt. Ease of ownership change Perpetual life Size 1/3/2014 Initial cost Paperwork Two tax returns Termination difficult Double taxation IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 48
S Corporations SNo more than 75 shareholders S<25% of income can be passive SShareholders STax rate = +5% S Individuals S Estates SU.S. citizens or residents S1 class of stock 1/3/2014 SSlower-growing companies SBenefits change with new tax rules IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 49
How Owners Affect Management 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 50
External Corporate Growth Merger/Acquisition ◦Horizontal ◦Vertical ◦Conglomerate Leveraged Buyout (LBO) 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 51
Types of Mergers/Acquisitions A Horizontal B = AB Conglomerate Vertical 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 52
Leveraged Buyout Individual + Loan = Purchase of Company Purchase Loan Company = Collateral 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 53
Franchises Advantages +Management & marketing ass’t -High start-up costs -Shared Profit +Personal ownership +Recognized name +Financial advice & ass’t +Lower failure rate 1/3/2014 Disadvantages -Management regulation -Coattail effects -Restrictions on selling -Fraudulent franchisors IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 54
New Management Approaches- Why? Global Competition Technological Change Customer Expectations Better Educated Employees Manager No Longer Just Boss 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 55
Required Management Skills Technical Skills Human Relations Skills Conceptual Skills 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 56
Process Of Management Management Planning Employees Financial Products Feedback Resources Organizing Leading Achievement of Goals & Objectives Location Information 1/3/2014 Controlling IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 57
Management Functions 1. Planning - Strategic Tactical Operational Contingency 2. 3. Leading 4. 1/3/2014 Organizing Controlling IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 58
Planning: Create Vision Set Vision, Goals, Objectives Goals- Broad, LongTerm Aims Vision/MissionWhy Organization Exists, Purpose of Organization Objectives- Specific, Short-Term Statements 1/3/2014 Continuous Process IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 59
Questions of Planning 1) What is the situation now? 2) Where do we want to go? 3) How can we get there from here? 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 60
Planning Functions 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 61
Decision Making: Process A. Define B. Describe C. Develop E. Develop D. Decide F. Do 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK G. Determine 62
Sources of Management Information Outside Sources Inside Sources Customers & Suppliers Subordinates & Teams Financial Institutions Superiors Other Managers Publications, Conferences Manager Academics & Consultants 1/3/2014 Meetings & Seminars Mgmt. Info. Sys. Grapevine IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 63
Organizing oSelf-Managed Teams oStakeholders oStaffing oDiversity 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 64
Management Pyramid CEO, Top Comptroller, Vice Pres. Sales Mgrs Plant Mgrs. Mid-Level Front Line/Supervisory 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK Supervisors Foremen 65
Management Planning Levels & Time Spans Time Top Mgmt. 1/3/2014 Middle Mgmt. 2 Years + Lower Level Mgmt. 1 Year, Quarter IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK Days, Weeks 66
Three Types of Roles • Interpersonal roles – Figurehead, leader, liaison • Informational roles – Monitor, disseminator, spokesperson • Decisional roles – Entrepreneur, disturbance handler, resource allocator, negotiator 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 67
Successful Leadership Vision Communicate Corporate Values & Ethics Don’t Fear Change 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 68
Leadership Styles Autocratic Democratic Laissez-Faire Situational Empowerment Knowledge 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 69
Autocratic: Close Supervision 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 70
Democratic: Participative 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 71
Laissez-Faire: Free Rein Leader 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 72
Manager’s Empowerment Checklist  Do employees understand your plans and goals?  Are employees encouraged to utilize these plans and goals as a basis for day-to-day work?  Does information to employees come soon enough for them to make intelligent decisions about their work?  Are communication & cooperation encouraged? Can questions be asked freely and are individual initiative & creativity encouraged? 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 73
Controlling Set Standards ◦ ◦ ◦ ◦ Specific Attainable Measurable Procedures for Monitoring Compare Plan & Standards to Results Communicate to Employees Corrective Action??? Monitor/Record 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 74
Management Activities Leading Motivating Decision Making Managing Information & Time 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 75
Management Challenges of the Future Finding/Training New Employees Growing Global Competition Finding/Serving New Customers Financing Long-Term Growth Dealing with Increased Regulation 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 76
Purpose of an Organizational Chart Show the activities of the organization Highlight subdivisions of the organization Identify different types of work performed 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK Provide information about different management levels Show the lines of authority in the organization and the flow of organizational communications 77
Organizational Design CE O Division V .P. Departm ent A G roup 1 S ubordinate I 1/3/2014 Division V .P. Departm ent B G roup 2 Organization Division Department Group Individual S ubordinate II IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 78
Organizational Structures Tall Organizations -Many Layers of Mgmt. -Cost of Mgmt.=High 1/3/2014 Flat Organizations -Current Trend -Creation of Teams IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 79
Span of Control Capabilities of Subordinates & Manager Complexity of Job Bs os S b r in t u od ae 1/3/2014 S b r in t u od ae S b r in t u od ae ◦ ◦ ◦ ◦ ◦ Geographically Close Functional Similarity Need for Coordination Planning Demands Functional Complexity IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 80
Departmentalization College President Business Education Comm., Humanities, Social Sciences Developmental Studies Math, Sciences, Health Sciences Advantages ◦ Skill Development ◦ Economies of Scale ◦ Good Coordination Disadvantages ◦ Lack of Communication ◦ Employees Identify with Department ◦ Slow Response to External Demands ◦ Narrow Specialists Technical, Industrial Service Occupations 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 81
Centralization (No Delegation) Disadvantages Advantages ◦Increased Uniformity ◦Less Duplication ◦Maximum Control 1/3/2014 ◦ Lots of Policies & Procedures ◦ Many Layers/Slower IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 82
Decentralization (Delegate Authority) Advantages ◦ Informed Decisions ◦ Worker Responsibility ◦ Few Layers/Faster 1/3/2014 Disadvantages ◦ Loss of Control ◦ Possible Duplication IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 83
Line Organizations Advantages ◦ Clear Authority & Responsibility ◦ Easy to Understand ◦ One Supervisor per Employee 1/3/2014 Disadvantages ◦ ◦ ◦ ◦ Inflexible Few Specialists for Advice Long Line of Communication Difficult to Handle Complex Decisions IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 84
Layers of Authority Top Managers- Decision Makers Middle Managers- Developed Rules & Procedures Workers and Supervisors 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 85
Line/Staff Organizations Line Personnel Staff Personnel ◦Perform Functions ◦Advise ◦Contribute Directly to Organizational Goals ◦Assist Line Personnel 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 86
Matrix Organizations Advantages ◦ ◦ ◦ ◦ Flexibility Cooperation & Teamwork Creativity More Efficient Use of Resources 1/3/2014 Disadvantages ◦ Costly/Complex ◦ Confusion in Loyalty ◦ Requires Good Interpersonal Skills & Cooperation ◦ Not Permanent IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 87
Inverted Organization Structure Empowered frontline workers Support Personnel Top Mgmt. 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 88
Outsourcing BENEFITS DOWNSIDE Time to focus on company’s primary function Less personal approach Increased level of expertise Less control by owner in planning, implementing & carrying out company’s future Cost effectiveness Decreased overhead Potential for competing for the outsourcing firm’s time Risk reduction Flexibility Technology 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 89
Intrinsic vs. Extrinsic Rewards Extrinsic = Outside Recognition Intrinsic = Inside Feeling of Job Well Done Promotions Gifts 1/3/2014 Pride Sense of Achievement IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK Praise Salary Increase Status 90
Personal Qualities Related to Job Motivation 1. Ability 2. Personal Needs 3. Frustration Tolerance 4. Self-Esteem 5. Outside Supports 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 91
Maslow’s Hierarchy of Needs Unsatisfied SelfActualization Esteem Needs Social Needs Safety Needs Satisfied Physiological Needs 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 92
McGregor’s Theories Theory X- Autocratic • • • • • Dislike Work Avoid Responsibility Little Ambition Forced/Controlled/ Directed/Threatened Motivated by Fear & Money 1/3/2014 Theory Y- Democratic • • • • • Like Work Naturally Works Toward Goals Seeks Responsibility Imaginative, Creative, Clever Motivated by Empowerment IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 93
Ouchi’s Theory Z Long-Term Employment Collective Decision-making Individual Responsibility Slow Evaluation/ Promotion Specialized Career Path Holistic Concern for Employees 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 94
Herzberg’s Two-Factor Concept Job-Related Achievement Recognition Work Itself Job Environment •Working Conditions •Salary •Policy/Admin. •Supervision Growth/Advancement Responsibility Peer Relationships 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 95
Goal-Setting Theory (MBO) Goal-Setting Theory Management By Objectives (1960s) •Employees Motivate Themselves •Help •Coach 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 96
Thank you!.. Follow us on facebook.com/3atta2i 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 97
1 of 97

Introduction to Business, Management and Economics

••
Business

Workshop 01 Mini-MBA 4 iGive (3attai)

Muhamad SHABAREK
Muhamad SHABAREKJCI Syria 2017 National President, Sr. Economic Development Expert (Project Implementation), MSc Governance and Policy

Recommended

Managerial economics introduction by
Managerial economics introductionManagerial economics introduction
Managerial economics introductionShompa Nandi
20.9K views•20 slides
Managerial-Economics by
Managerial-EconomicsManagerial-Economics
Managerial-EconomicsPrathammk
72.7K views•29 slides
Introduction to business economics by
Introduction to business economicsIntroduction to business economics
Introduction to business economicsdvy92010
9.2K views•14 slides
Basic Principles in Economics and Managerial Economics by
Basic Principles in Economics and Managerial Economics Basic Principles in Economics and Managerial Economics
Basic Principles in Economics and Managerial Economics Mohammed Jasir PV
711 views•22 slides
Marketing environment by
Marketing environmentMarketing environment
Marketing environmentTribhuvan University
2.8K views•32 slides
Managerial Economics- Introduction,Characteristics and Scope by
Managerial Economics- Introduction,Characteristics and ScopeManagerial Economics- Introduction,Characteristics and Scope
Managerial Economics- Introduction,Characteristics and ScopePooja Kadiyan
1.3K views•32 slides

More Related Content

What's hot

Business economics by
Business economicsBusiness economics
Business economicsAshutosh Mittal
49.4K views•49 slides
Production Function by
Production FunctionProduction Function
Production FunctionGAURAV. H .TANDON
37.5K views•53 slides
1 introduction to managerial economics by
1 introduction to managerial economics1 introduction to managerial economics
1 introduction to managerial economicsShaik Mohammad Imran
3.8K views•5 slides
Ch. 1 micro and macro economics by
Ch. 1 micro and macro economicsCh. 1 micro and macro economics
Ch. 1 micro and macro economicsManish Purani
40K views•13 slides
Basics of economics by
Basics of economicsBasics of economics
Basics of economicsKaramwantKaur
1.5K views•16 slides
Microeconomics introduction by
Microeconomics introductionMicroeconomics introduction
Microeconomics introductionNithin Kumar
25.5K views•36 slides

What's hot(20)

Business economics by Ashutosh Mittal
Business economicsBusiness economics
Business economics
Ashutosh Mittal•49.4K views
Production Function by GAURAV. H .TANDON
Production FunctionProduction Function
Production Function
GAURAV. H .TANDON•37.5K views
1 introduction to managerial economics by Shaik Mohammad Imran
1 introduction to managerial economics1 introduction to managerial economics
1 introduction to managerial economics
Shaik Mohammad Imran•3.8K views
Ch. 1 micro and macro economics by Manish Purani
Ch. 1 micro and macro economicsCh. 1 micro and macro economics
Ch. 1 micro and macro economics
Manish Purani•40K views
Basics of economics by KaramwantKaur
Basics of economicsBasics of economics
Basics of economics
KaramwantKaur•1.5K views
Microeconomics introduction by Nithin Kumar
Microeconomics introductionMicroeconomics introduction
Microeconomics introduction
Nithin Kumar•25.5K views
Revenue Concept & Curves- Marginal revenue, Average revenue, total revenue by Utkarsh Goyal
Revenue Concept & Curves- Marginal revenue, Average revenue, total revenueRevenue Concept & Curves- Marginal revenue, Average revenue, total revenue
Revenue Concept & Curves- Marginal revenue, Average revenue, total revenue
Utkarsh Goyal•7.9K views
Isoquants by MALVIKA AWASTHI
IsoquantsIsoquants
Isoquants
MALVIKA AWASTHI•36K views
Managerial economics by akashsharma622
Managerial economicsManagerial economics
Managerial economics
akashsharma622•56K views
PRODUCTION CONCEPT by Shubham Agrawal
PRODUCTION CONCEPTPRODUCTION CONCEPT
PRODUCTION CONCEPT
Shubham Agrawal•6.7K views
Role of managers by Al - Qurmoshi Institute of Business Management, Hyderabad
Role of managersRole of managers
Role of managers
Al - Qurmoshi Institute of Business Management, Hyderabad•13K views
Managerial economics book by Babasab Patil
Managerial economics book Managerial economics book
Managerial economics book
Babasab Patil•5.7K views
Presentation on importance of microeconomics by Tribhuwan Pandey
Presentation on importance of microeconomicsPresentation on importance of microeconomics
Presentation on importance of microeconomics
Tribhuwan Pandey•41.4K views
2 introduction to microeconomics and macroeconomics by Prem Raj Bhatta
2 introduction to microeconomics and macroeconomics2 introduction to microeconomics and macroeconomics
2 introduction to microeconomics and macroeconomics
Prem Raj Bhatta•18.6K views
The fundamentals of managerial economics by Jasil Raj
The fundamentals of managerial economicsThe fundamentals of managerial economics
The fundamentals of managerial economics
Jasil Raj•698 views
Managerial economics by Dr.Sujata Bolake
Managerial economicsManagerial economics
Managerial economics
Dr.Sujata Bolake•612 views
Business Environment MBA by Zubair Ahmad
Business Environment MBABusiness Environment MBA
Business Environment MBA
Zubair Ahmad•14.7K views
law of variable proportions by Areeb Syed
law of variable proportionslaw of variable proportions
law of variable proportions
Areeb Syed•39.1K views
Importance of marketing by Annalyn Peña
Importance of marketingImportance of marketing
Importance of marketing
Annalyn Peña•86.4K views
Business environment by Shompa Nandi
Business environmentBusiness environment
Business environment
Shompa Nandi•117K views

Viewers also liked

Bank deposits by
Bank depositsBank deposits
Bank depositsAnjali Jalan
26.3K views•12 slides
Deposits by
DepositsDeposits
DepositsJoji Isac P
22.6K views•18 slides
Aditya birla ultratech cement by
Aditya birla ultratech cement Aditya birla ultratech cement
Aditya birla ultratech cement Shinigami_1
67.7K views•43 slides
Introduction to managerial economics by
Introduction to managerial economicsIntroduction to managerial economics
Introduction to managerial economicsSnigdha Singh
39.7K views•24 slides
Introduction to managerial economics by
Introduction to managerial economicsIntroduction to managerial economics
Introduction to managerial economicsSuravarapu Padma
49.5K views•9 slides
Business law contract act by
Business law contract actBusiness law contract act
Business law contract actNitin Patil
58.4K views•28 slides

Viewers also liked(9)

Bank deposits by Anjali Jalan
Bank depositsBank deposits
Bank deposits
Anjali Jalan•26.3K views
Deposits by Joji Isac P
DepositsDeposits
Deposits
Joji Isac P•22.6K views
Aditya birla ultratech cement by Shinigami_1
Aditya birla ultratech cement Aditya birla ultratech cement
Aditya birla ultratech cement
Shinigami_1•67.7K views
Introduction to managerial economics by Snigdha Singh
Introduction to managerial economicsIntroduction to managerial economics
Introduction to managerial economics
Snigdha Singh•39.7K views
Introduction to managerial economics by Suravarapu Padma
Introduction to managerial economicsIntroduction to managerial economics
Introduction to managerial economics
Suravarapu Padma•49.5K views
Business law contract act by Nitin Patil
Business law contract actBusiness law contract act
Business law contract act
Nitin Patil•58.4K views
Introduction to Contract Law by theacademist
Introduction to Contract LawIntroduction to Contract Law
Introduction to Contract Law
theacademist•90.4K views
Introduction to economics by Michael Noel
Introduction to economicsIntroduction to economics
Introduction to economics
Michael Noel•356.4K views
Study notes contract law by Ramona Vansluytman
Study notes contract lawStudy notes contract law
Study notes contract law
Ramona Vansluytman•275.8K views

Similar to Introduction to Business, Management and Economics

Marketingenvironment submission by
Marketingenvironment submissionMarketingenvironment submission
Marketingenvironment submissionbuzane
484 views•28 slides
Marketing environment copy - copy by
Marketing environment copy - copyMarketing environment copy - copy
Marketing environment copy - copySoniya Thakur
5.4K views•19 slides
Chapter 1. Economic Issues and Concepts by
Chapter 1. Economic Issues and ConceptsChapter 1. Economic Issues and Concepts
Chapter 1. Economic Issues and ConceptsZulfiqar Ali
201 views•27 slides
Unit 2 by
Unit 2Unit 2
Unit 2Zaha World
1K views•37 slides
1 Business Environment by
1 Business Environment1 Business Environment
1 Business EnvironmentMasood Zaidi
1.3K views•54 slides

Similar to Introduction to Business, Management and Economics(20)

Marketingenvironment submission by buzane
Marketingenvironment submissionMarketingenvironment submission
Marketingenvironment submission
buzane•484 views
Marketing environment copy - copy by Soniya Thakur
Marketing environment copy - copyMarketing environment copy - copy
Marketing environment copy - copy
Soniya Thakur•5.4K views
Chapter 1. Economic Issues and Concepts by Zulfiqar Ali
Chapter 1. Economic Issues and ConceptsChapter 1. Economic Issues and Concepts
Chapter 1. Economic Issues and Concepts
Zulfiqar Ali•201 views
Unit 2 by Zaha World
Unit 2Unit 2
Unit 2
Zaha World•1K views
1 Business Environment by Masood Zaidi
1 Business Environment1 Business Environment
1 Business Environment
Masood Zaidi•1.3K views
Issam Chleuh by The Africa CEO Round-table&Conference on CSR
Issam ChleuhIssam Chleuh
Issam Chleuh
The Africa CEO Round-table&Conference on CSR•462 views
Lecture3 by Chormvirak Moulsem
Lecture3Lecture3
Lecture3
Chormvirak Moulsem•162 views
Free Ridership Research Paper by Maggie Cavanaugh
Free Ridership Research PaperFree Ridership Research Paper
Free Ridership Research Paper
Maggie Cavanaugh•3 views
10220140503003 by IAEME Publication
1022014050300310220140503003
10220140503003
IAEME Publication•232 views
Bgs chapter 1 by Kiran Shetty
Bgs chapter 1Bgs chapter 1
Bgs chapter 1
Kiran Shetty•10.2K views
Micro and Macro Environment of Business by L.Prakash Kannan
Micro and Macro Environment of BusinessMicro and Macro Environment of Business
Micro and Macro Environment of Business
L.Prakash Kannan•2.5K views
Microeconomics 101 by Marlyn Allanigue
Microeconomics 101 Microeconomics 101
Microeconomics 101
Marlyn Allanigue•2.9K views
157590592071 157590592109 by Dharmesh Chotaliya
157590592071 157590592109157590592071 157590592109
157590592071 157590592109
Dharmesh Chotaliya•205 views
PARTICIPATORY LIVELIHOOD PLANNING by LIVELIHOOD IMPROVEMENT FINANCE COMPANY OF MEGHALAYA
PARTICIPATORY LIVELIHOOD PLANNINGPARTICIPATORY LIVELIHOOD PLANNING
PARTICIPATORY LIVELIHOOD PLANNING
LIVELIHOOD IMPROVEMENT FINANCE COMPANY OF MEGHALAYA•3.2K views
STEPLEED for automobile industry by tirth2006
STEPLEED for automobile industrySTEPLEED for automobile industry
STEPLEED for automobile industry
tirth2006•5K views
Corporate Tax vs Direct Subsidies by paul young cpa, cga
Corporate Tax vs Direct SubsidiesCorporate Tax vs Direct Subsidies
Corporate Tax vs Direct Subsidies
paul young cpa, cga•446 views
Environmental Audit and Accounting by Ojas Narsale
Environmental Audit and AccountingEnvironmental Audit and Accounting
Environmental Audit and Accounting
Ojas Narsale•1.9K views
External marketing environment by ankitBansal194
External marketing environmentExternal marketing environment
External marketing environment
ankitBansal194•5.9K views
public sector economics CH 6-7.pptx by kebede28
public sector economics CH 6-7.pptxpublic sector economics CH 6-7.pptx
public sector economics CH 6-7.pptx
kebede28•41 views
Roles of government in a market economy by Hydraulic Hasheeb
Roles of government in a market economy Roles of government in a market economy
Roles of government in a market economy
Hydraulic Hasheeb•42 views

More from Muhamad SHABAREK

Basic skills of Coaching and Mentoring by
Basic skills of Coaching and MentoringBasic skills of Coaching and Mentoring
Basic skills of Coaching and MentoringMuhamad SHABAREK
42 views•56 slides
Using Innovation in Humanitarian Work by
Using Innovation in Humanitarian WorkUsing Innovation in Humanitarian Work
Using Innovation in Humanitarian WorkMuhamad SHABAREK
11 views•47 slides
YLP 4 Syria: S#4 Gender Equity - Rania Aswad - 23 oct 2018 by
YLP 4 Syria: S#4 Gender Equity - Rania Aswad - 23 oct 2018YLP 4 Syria: S#4 Gender Equity - Rania Aswad - 23 oct 2018
YLP 4 Syria: S#4 Gender Equity - Rania Aswad - 23 oct 2018Muhamad SHABAREK
445 views•14 slides
YPeer Central Area Forum by
YPeer Central Area ForumYPeer Central Area Forum
YPeer Central Area ForumMuhamad SHABAREK
293 views•51 slides
Embracing peace through JCI Projects by
Embracing peace through JCI ProjectsEmbracing peace through JCI Projects
Embracing peace through JCI ProjectsMuhamad SHABAREK
533 views•28 slides
JCI Syria 2017 Plan of Action #YOUthCanDO by
JCI Syria 2017 Plan of Action #YOUthCanDOJCI Syria 2017 Plan of Action #YOUthCanDO
JCI Syria 2017 Plan of Action #YOUthCanDOMuhamad SHABAREK
1.6K views•10 slides

More from Muhamad SHABAREK(18)

Basic skills of Coaching and Mentoring by Muhamad SHABAREK
Basic skills of Coaching and MentoringBasic skills of Coaching and Mentoring
Basic skills of Coaching and Mentoring
Muhamad SHABAREK•42 views
Using Innovation in Humanitarian Work by Muhamad SHABAREK
Using Innovation in Humanitarian WorkUsing Innovation in Humanitarian Work
Using Innovation in Humanitarian Work
Muhamad SHABAREK•11 views
YLP 4 Syria: S#4 Gender Equity - Rania Aswad - 23 oct 2018 by Muhamad SHABAREK
YLP 4 Syria: S#4 Gender Equity - Rania Aswad - 23 oct 2018YLP 4 Syria: S#4 Gender Equity - Rania Aswad - 23 oct 2018
YLP 4 Syria: S#4 Gender Equity - Rania Aswad - 23 oct 2018
Muhamad SHABAREK•445 views
YPeer Central Area Forum by Muhamad SHABAREK
YPeer Central Area ForumYPeer Central Area Forum
YPeer Central Area Forum
Muhamad SHABAREK•293 views
Embracing peace through JCI Projects by Muhamad SHABAREK
Embracing peace through JCI ProjectsEmbracing peace through JCI Projects
Embracing peace through JCI Projects
Muhamad SHABAREK•533 views
JCI Syria 2017 Plan of Action #YOUthCanDO by Muhamad SHABAREK
JCI Syria 2017 Plan of Action #YOUthCanDOJCI Syria 2017 Plan of Action #YOUthCanDO
JCI Syria 2017 Plan of Action #YOUthCanDO
Muhamad SHABAREK•1.6K views
Startup management الادارة الناشئة by Muhamad SHABAREK
Startup management الادارة الناشئةStartup management الادارة الناشئة
Startup management الادارة الناشئة
Muhamad SHABAREK•7.6K views
10 tips to get a scholarship by Muhamad SHABAREK
10 tips to get a scholarship10 tips to get a scholarship
10 tips to get a scholarship
Muhamad SHABAREK•690 views
Chevening scholarships Programme Syria 2015-2016 by Muhamad SHABAREK
Chevening scholarships Programme Syria 2015-2016Chevening scholarships Programme Syria 2015-2016
Chevening scholarships Programme Syria 2015-2016
Muhamad SHABAREK•1.4K views
Human Resource Management by Muhamad SHABAREK
Human Resource ManagementHuman Resource Management
Human Resource Management
Muhamad SHABAREK•10K views
Social Marketing by Muhamad SHABAREK
Social MarketingSocial Marketing
Social Marketing
Muhamad SHABAREK•4.2K views
Empowering your business with social media by Muhamad SHABAREK
Empowering your business with social mediaEmpowering your business with social media
Empowering your business with social media
Muhamad SHABAREK•522 views
Digital marketing by Muhamad SHABAREK
Digital marketingDigital marketing
Digital marketing
Muhamad SHABAREK•4.2K views
Crossing the chasm by Muhamad SHABAREK
Crossing the chasmCrossing the chasm
Crossing the chasm
Muhamad SHABAREK•14.4K views
The european union by Muhamad SHABAREK
The european unionThe european union
The european union
Muhamad SHABAREK•107.8K views
Green industries in syria by Muhamad SHABAREK
Green industries in syriaGreen industries in syria
Green industries in syria
Muhamad SHABAREK•1.3K views
Managing People (Human Resource Management for NGOs) by Muhamad SHABAREK
Managing People (Human Resource Management for NGOs)Managing People (Human Resource Management for NGOs)
Managing People (Human Resource Management for NGOs)
Muhamad SHABAREK•41.6K views
Be a Better you by Muhamad SHABAREK
Be a Better youBe a Better you
Be a Better you
Muhamad SHABAREK•944 views

Recently uploaded

Better Appeals and Solicitations - Bloomerang.pdf by
Better Appeals and Solicitations - Bloomerang.pdfBetter Appeals and Solicitations - Bloomerang.pdf
Better Appeals and Solicitations - Bloomerang.pdfBloomerang
81 views•51 slides
proveitdeck.pptx by
proveitdeck.pptxproveitdeck.pptx
proveitdeck.pptxDerek Britton
24 views•12 slides
Learning from Failure_ Lessons from Failed Startups.pptx by
Learning from Failure_ Lessons from Failed Startups.pptxLearning from Failure_ Lessons from Failed Startups.pptx
Learning from Failure_ Lessons from Failed Startups.pptxCodeventures
12 views•7 slides
On the Concept of Discovery Power of Enterprise Modeling Languages and its Re... by
On the Concept of Discovery Power of Enterprise Modeling Languages and its Re...On the Concept of Discovery Power of Enterprise Modeling Languages and its Re...
On the Concept of Discovery Power of Enterprise Modeling Languages and its Re...Ilia Bider
15 views•17 slides
Defcon Network.pdf by
Defcon Network.pdfDefcon Network.pdf
Defcon Network.pdfJesse Mauck
19 views•4 slides
Digital Strategic Business Planning Methodology by
Digital Strategic Business Planning MethodologyDigital Strategic Business Planning Methodology
Digital Strategic Business Planning MethodologyOperational Excellence Consulting (Singapore)
10 views•23 slides

Recently uploaded(20)

Better Appeals and Solicitations - Bloomerang.pdf by Bloomerang
Better Appeals and Solicitations - Bloomerang.pdfBetter Appeals and Solicitations - Bloomerang.pdf
Better Appeals and Solicitations - Bloomerang.pdf
Bloomerang•81 views
proveitdeck.pptx by Derek Britton
proveitdeck.pptxproveitdeck.pptx
proveitdeck.pptx
Derek Britton•24 views
Learning from Failure_ Lessons from Failed Startups.pptx by Codeventures
Learning from Failure_ Lessons from Failed Startups.pptxLearning from Failure_ Lessons from Failed Startups.pptx
Learning from Failure_ Lessons from Failed Startups.pptx
Codeventures•12 views
On the Concept of Discovery Power of Enterprise Modeling Languages and its Re... by Ilia Bider
On the Concept of Discovery Power of Enterprise Modeling Languages and its Re...On the Concept of Discovery Power of Enterprise Modeling Languages and its Re...
On the Concept of Discovery Power of Enterprise Modeling Languages and its Re...
Ilia Bider•15 views
Defcon Network.pdf by Jesse Mauck
Defcon Network.pdfDefcon Network.pdf
Defcon Network.pdf
Jesse Mauck•19 views
Digital Strategic Business Planning Methodology by Operational Excellence Consulting (Singapore)
Digital Strategic Business Planning MethodologyDigital Strategic Business Planning Methodology
Digital Strategic Business Planning Methodology
Operational Excellence Consulting (Singapore)•10 views
Valuation Quarterly Webinar Dec23.pdf by FelixPerez547899
Valuation Quarterly Webinar Dec23.pdfValuation Quarterly Webinar Dec23.pdf
Valuation Quarterly Webinar Dec23.pdf
FelixPerez547899•42 views
Integrating Talent Management Practices by Seta Wicaksana
Integrating Talent Management PracticesIntegrating Talent Management Practices
Integrating Talent Management Practices
Seta Wicaksana•150 views
yasin-ppt.pptx by samanolia75
yasin-ppt.pptxyasin-ppt.pptx
yasin-ppt.pptx
samanolia75•19 views
v s.pptx by ravikhadalwal
v s.pptxv s.pptx
v s.pptx
ravikhadalwal•12 views
The Truth About Customer Journey Mapping by Aggregage
The Truth About Customer Journey MappingThe Truth About Customer Journey Mapping
The Truth About Customer Journey Mapping
Aggregage•117 views
Navigating EUDR Compliance within the Coffee Industry by Peter Horsten
Navigating EUDR Compliance within the Coffee IndustryNavigating EUDR Compliance within the Coffee Industry
Navigating EUDR Compliance within the Coffee Industry
Peter Horsten•46 views
Imports Next Level.pdf by Bloomerang
Imports Next Level.pdfImports Next Level.pdf
Imports Next Level.pdf
Bloomerang•150 views
auto dialer aegis.pdf by VoiceLogger1
auto dialer aegis.pdfauto dialer aegis.pdf
auto dialer aegis.pdf
VoiceLogger1•10 views
Why are KPIs(key performance indicators) important? by Epixel MLM Software
Why are KPIs(key performance indicators) important? Why are KPIs(key performance indicators) important?
Why are KPIs(key performance indicators) important?
Epixel MLM Software•20 views
MechMaf Shipping LLC by MechMaf Shipping LLC
MechMaf Shipping LLCMechMaf Shipping LLC
MechMaf Shipping LLC
MechMaf Shipping LLC•65 views
December 2023 - Meat on the Bones by NZSG
December 2023 - Meat on the BonesDecember 2023 - Meat on the Bones
December 2023 - Meat on the Bones
NZSG•28 views
Accel_Series_2023Autumn_En.pptx by NTTDATA INTRAMART
Accel_Series_2023Autumn_En.pptxAccel_Series_2023Autumn_En.pptx
Accel_Series_2023Autumn_En.pptx
NTTDATA INTRAMART•209 views
Promoting the SEO to the C-Suite by Ash Nallawalla
Promoting the SEO to the C-SuitePromoting the SEO to the C-Suite
Promoting the SEO to the C-Suite
Ash Nallawalla•12 views
3Q23_EN.pdf by irhcs
3Q23_EN.pdf3Q23_EN.pdf
3Q23_EN.pdf
irhcs•13 views

Introduction to Business, Management and Economics

  • 2. WHO’S IN THE ROOM? 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 2
  • 3. What is Business? Definitions of Business Business has three dimensions of a meaning ◦ A commerce ◦ An occupation ◦ An organization 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 3
  • 4. Definitions: “Business as a commerce is the process that people produce, exchange and trade goods and services” “Business as an occupation is the acquired set of specialized skills and abilities that allows people to create valuable goods and services” “Business as an organization is the system of task and authority relationship that coordinates and controls the interactions between people so that they work toward a common goal” “Business as a system is a combination of business commerce, occupations, and organizations that produces and distributes the goods and services that create value for people in a society” 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 4
  • 5. Factors of Production Regardless of meaning there are four crucial ingredients or productive factors or resources of: 1. Land 2. Labor 3. Capital 4. Enterprise that are needed to profit from business and are limited in supply (scarcity) A company must use them efficiently and effectively to produce goods and services These resources allow for the creation of a product and/or service that customers value a price 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 5
  • 6. Efficiency and Effectiveness Doing things right 1/3/2014 Doing the right things IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 6
  • 7. Definition of Economics “Use of scarce resources to produce goods/services, distribute them among competing groups/individuals“ Two types of economics: Micro- and Macro- 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 7
  • 8. Three Economic Systems Mixed Socialism (Highly Controlled) Communism 1/3/2014 (Little Control) Capitalism IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 8
  • 9. Capitalism Private Property Profit/Ownership Freedom of Competition Freedom of Choice 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 9
  • 10. Communism Public Ownership ◦ Productive Capacity ◦ Capital Central Planning/Controlled Economy Managers = Mandatory Party Membership 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 10
  • 11. Socialism Private & Public Ownership Some Choices are Limited Creates Social Equality & Equality of Results Reduces Individual Incentive 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 11
  • 12. Mixed Economies Free-Market Economy = Capitalism Command Economy ◦ Socialism ◦ Communism Trend Results in Blend ◦ Capitalism > Socialism ◦ Socialism > Capitalism 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 12
  • 13. Supply and Demand All business activity is self-interested and competitive, and this competition may benefit people and society when it leads resources to be employed in their most profitable use The forces of supply and demand determine a product’s market price In turn, supply and demand are the result of peoples’ subjective judgment of the value or utility they will receive from supplying or consuming a particular product 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 13
  • 14. Law of Demand Reflects the usefulness or utility from that product Given the price of a product or service, we generally demand less quantity of it as the price increases and demand more of it as the prices decreases Law of Supply Sellers are more willing to supply a product as the price increases and less willing to supply as the price decreases 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 14
  • 15. 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 15
  • 17. Monopoly = One Seller Diamonds Utilities 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 17
  • 18. Oligopoly = Few Sellers Tobacco Automobiles 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 18
  • 19. Monopolistic Competition Many Sellers With Perceived Differences Fast Food ◦ Colleges ◦ 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 19
  • 20. Pure Competition Sellers Buyer 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 20
  • 21. Limitations of Free-Market Inequality of Wealth- Causes National & World Tension Potential Environmental Damage Limitations Push Country towards Socialism = Government Regulation 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 21
  • 22. Government’s Role in Economics Enforces Rules/Regulations Provides Public Goods Transfers Payments Fosters Competition Contributes to Economic Stability 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 22
  • 23. Industrialized (Nations Tax Rate) U.S. Austria/Japan Italy Canada Germany Spain/Sweden France Finland Denmark 0% 10% 20% 30% 40% 50% 60% 70% Source: Parade Magazine, Apr. 12, 1998. 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 23
  • 24. Where Does the Government Get Its Money 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 24
  • 25. 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 25
  • 26. Key Economic Indicators Gross Domestic Product (GDP) Unemployment Rate Price Indexes ◦ Consumer Price Index(CPI) ◦ Producer Price Index(PPI) 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 26
  • 27. What Makes Up the Consumer Price Index Recreation Apparel 5% 6% Other 5% Medical Care/ Insurance 7% Medical Care 6% Housing & Util. 39% Food & Beverage 16% Transportation 18% 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 27
  • 28. Economic Scenarios Inflation vs. Deflation = #Dollars Chasing Amount of Goods/Services Recession & Depression = Degrees of Severity Federal Reserve Attempts to Control 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 28
  • 29. Government Economic Tools Monetary Policy- management of money supply Fiscal Policy- management of taxes and government expenditures National Debt 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 29
  • 30. Why Trade With Other Nations? Reasons No nation can produce all its needs Mutually beneficial exchange Natural Resources or Technology- Produce or Buy? Free Trade Theories of Advantage 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 30
  • 31. Theories of Advantage Absolute = Virtual Monopoly South Africa Output per Unit of Input The Rest of the World Diamond Production 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 31
  • 32. Theories of Advantage Comparative U. S. China China U. S. Output per Unit of Input Software 1/3/2014 Clothing IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 32
  • 33. Specialize & Trade Software Clothing 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 33
  • 34. Import Goods- Money Goes Out of Country Export Goods- Money Comes Into the Country 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 34
  • 35. Trade Deficits/Surpluses- Balance of Trade(1999) U. S. Exports to Japan Food/Beverages  Raw Materials  Chemicals & Pharmaceuticals  $58.6 Billion 1/3/2014 Japan Exports to U.S. Computers & Telecommunications  Cars/Trucks  Consumer Products  Semi-Finished Goods  $113.9 B IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 35
  • 36. 1999 Balance of Trade $58.6 B Goods To Japan $113.9 B Goods From Japan Yen to U.S. $55.3 B Dollars to Japan U.S. Balance of Payments = Unfavorable 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 36
  • 37. Modes of Entry into the Global Markets 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 37
  • 38. Forces Affecting Trading in Global Markets Sociocultural Economic/Currency Shifts Legal/Regulatory Physical/Environmental Protectionism Global E-Commerce 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 38
  • 39. Protectionism Mercantilism Tariffs ◦ Protective ◦ Revenue Import Quota & Embargo 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 39
  • 40. Trade Agreements/Unions General Agreement on Tariffs and Trade (GATT)- WTO Common Markets/European Union North American Free Trade Agreement (NAFTA) 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 40
  • 41. Exchange Rates- U. S. Dollars to Other Currencies $ Goes Down- Increases Demand for U. S. Products ◦ Balance of Trade Improves 1/3/2014 $ Goes Up- Decreases Demand for U. S. Products ◦ Balance of Trade Widens IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 41
  • 42. Basic Forms of Ownership Sole Proprietorship Partnership Corporation 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 42
  • 43. Sole Proprietorship Advantages Disadvantages Ease of start/end Unlimited liability Be your own boss Limited financial resources Difficulty in mgmt. Pride of ownership Retain profit No special taxes 1/3/2014 Time commitment Few fringe benefits Limited growth Limited life span IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 43
  • 44. Partnership Advantages More financial resources Shared mgmt. Longer survival Disadvantages Unlimited liability Division of profits Disagreements among partners Difficult to terminate 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 44
  • 46. Uniform Partnership Act Common Ownership Shared Profits & Losses Management Participation 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 46
  • 47. Types of Corporations Regular ‘C’ Subchapter ‘S’ Limited Liability Corporation 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 47
  • 48. Corporation Advantages Disadvantages More money for investment Limited liability Separation of ownership/mgmt. Ease of ownership change Perpetual life Size 1/3/2014 Initial cost Paperwork Two tax returns Termination difficult Double taxation IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 48
  • 49. S Corporations SNo more than 75 shareholders S<25% of income can be passive SShareholders STax rate = +5% S Individuals S Estates SU.S. citizens or residents S1 class of stock 1/3/2014 SSlower-growing companies SBenefits change with new tax rules IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 49
  • 50. How Owners Affect Management 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 50
  • 51. External Corporate Growth Merger/Acquisition ◦Horizontal ◦Vertical ◦Conglomerate Leveraged Buyout (LBO) 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 51
  • 52. Types of Mergers/Acquisitions A Horizontal B = AB Conglomerate Vertical 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 52
  • 53. Leveraged Buyout Individual + Loan = Purchase of Company Purchase Loan Company = Collateral 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 53
  • 54. Franchises Advantages +Management & marketing ass’t -High start-up costs -Shared Profit +Personal ownership +Recognized name +Financial advice & ass’t +Lower failure rate 1/3/2014 Disadvantages -Management regulation -Coattail effects -Restrictions on selling -Fraudulent franchisors IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 54
  • 55. New Management Approaches- Why? Global Competition Technological Change Customer Expectations Better Educated Employees Manager No Longer Just Boss 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 55
  • 56. Required Management Skills Technical Skills Human Relations Skills Conceptual Skills 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 56
  • 57. Process Of Management Management Planning Employees Financial Products Feedback Resources Organizing Leading Achievement of Goals & Objectives Location Information 1/3/2014 Controlling IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 57
  • 59. Planning: Create Vision Set Vision, Goals, Objectives Goals- Broad, LongTerm Aims Vision/MissionWhy Organization Exists, Purpose of Organization Objectives- Specific, Short-Term Statements 1/3/2014 Continuous Process IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 59
  • 60. Questions of Planning 1) What is the situation now? 2) Where do we want to go? 3) How can we get there from here? 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 60
  • 61. Planning Functions 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 61
  • 62. Decision Making: Process A. Define B. Describe C. Develop E. Develop D. Decide F. Do 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK G. Determine 62
  • 63. Sources of Management Information Outside Sources Inside Sources Customers & Suppliers Subordinates & Teams Financial Institutions Superiors Other Managers Publications, Conferences Manager Academics & Consultants 1/3/2014 Meetings & Seminars Mgmt. Info. Sys. Grapevine IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 63
  • 65. Management Pyramid CEO, Top Comptroller, Vice Pres. Sales Mgrs Plant Mgrs. Mid-Level Front Line/Supervisory 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK Supervisors Foremen 65
  • 66. Management Planning Levels & Time Spans Time Top Mgmt. 1/3/2014 Middle Mgmt. 2 Years + Lower Level Mgmt. 1 Year, Quarter IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK Days, Weeks 66
  • 67. Three Types of Roles • Interpersonal roles – Figurehead, leader, liaison • Informational roles – Monitor, disseminator, spokesperson • Decisional roles – Entrepreneur, disturbance handler, resource allocator, negotiator 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 67
  • 68. Successful Leadership Vision Communicate Corporate Values & Ethics Don’t Fear Change 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 68
  • 70. Autocratic: Close Supervision 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 70
  • 71. Democratic: Participative 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 71
  • 72. Laissez-Faire: Free Rein Leader 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 72
  • 73. Manager’s Empowerment Checklist  Do employees understand your plans and goals?  Are employees encouraged to utilize these plans and goals as a basis for day-to-day work?  Does information to employees come soon enough for them to make intelligent decisions about their work?  Are communication & cooperation encouraged? Can questions be asked freely and are individual initiative & creativity encouraged? 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 73
  • 74. Controlling Set Standards ◦ ◦ ◦ ◦ Specific Attainable Measurable Procedures for Monitoring Compare Plan & Standards to Results Communicate to Employees Corrective Action??? Monitor/Record 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 74
  • 75. Management Activities Leading Motivating Decision Making Managing Information & Time 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 75
  • 76. Management Challenges of the Future Finding/Training New Employees Growing Global Competition Finding/Serving New Customers Financing Long-Term Growth Dealing with Increased Regulation 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 76
  • 77. Purpose of an Organizational Chart Show the activities of the organization Highlight subdivisions of the organization Identify different types of work performed 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK Provide information about different management levels Show the lines of authority in the organization and the flow of organizational communications 77
  • 78. Organizational Design CE O Division V .P. Departm ent A G roup 1 S ubordinate I 1/3/2014 Division V .P. Departm ent B G roup 2 Organization Division Department Group Individual S ubordinate II IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 78
  • 79. Organizational Structures Tall Organizations -Many Layers of Mgmt. -Cost of Mgmt.=High 1/3/2014 Flat Organizations -Current Trend -Creation of Teams IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 79
  • 80. Span of Control Capabilities of Subordinates & Manager Complexity of Job Bs os S b r in t u od ae 1/3/2014 S b r in t u od ae S b r in t u od ae ◦ ◦ ◦ ◦ ◦ Geographically Close Functional Similarity Need for Coordination Planning Demands Functional Complexity IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 80
  • 81. Departmentalization College President Business Education Comm., Humanities, Social Sciences Developmental Studies Math, Sciences, Health Sciences Advantages ◦ Skill Development ◦ Economies of Scale ◦ Good Coordination Disadvantages ◦ Lack of Communication ◦ Employees Identify with Department ◦ Slow Response to External Demands ◦ Narrow Specialists Technical, Industrial Service Occupations 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 81
  • 82. Centralization (No Delegation) Disadvantages Advantages ◦Increased Uniformity ◦Less Duplication ◦Maximum Control 1/3/2014 ◦ Lots of Policies & Procedures ◦ Many Layers/Slower IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 82
  • 83. Decentralization (Delegate Authority) Advantages ◦ Informed Decisions ◦ Worker Responsibility ◦ Few Layers/Faster 1/3/2014 Disadvantages ◦ Loss of Control ◦ Possible Duplication IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 83
  • 84. Line Organizations Advantages ◦ Clear Authority & Responsibility ◦ Easy to Understand ◦ One Supervisor per Employee 1/3/2014 Disadvantages ◦ ◦ ◦ ◦ Inflexible Few Specialists for Advice Long Line of Communication Difficult to Handle Complex Decisions IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 84
  • 85. Layers of Authority Top Managers- Decision Makers Middle Managers- Developed Rules & Procedures Workers and Supervisors 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 85
  • 86. Line/Staff Organizations Line Personnel Staff Personnel ◦Perform Functions ◦Advise ◦Contribute Directly to Organizational Goals ◦Assist Line Personnel 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 86
  • 87. Matrix Organizations Advantages ◦ ◦ ◦ ◦ Flexibility Cooperation & Teamwork Creativity More Efficient Use of Resources 1/3/2014 Disadvantages ◦ Costly/Complex ◦ Confusion in Loyalty ◦ Requires Good Interpersonal Skills & Cooperation ◦ Not Permanent IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 87
  • 88. Inverted Organization Structure Empowered frontline workers Support Personnel Top Mgmt. 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 88
  • 89. Outsourcing BENEFITS DOWNSIDE Time to focus on company’s primary function Less personal approach Increased level of expertise Less control by owner in planning, implementing & carrying out company’s future Cost effectiveness Decreased overhead Potential for competing for the outsourcing firm’s time Risk reduction Flexibility Technology 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 89
  • 90. Intrinsic vs. Extrinsic Rewards Extrinsic = Outside Recognition Intrinsic = Inside Feeling of Job Well Done Promotions Gifts 1/3/2014 Pride Sense of Achievement IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK Praise Salary Increase Status 90
  • 91. Personal Qualities Related to Job Motivation 1. Ability 2. Personal Needs 3. Frustration Tolerance 4. Self-Esteem 5. Outside Supports 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 91
  • 92. Maslow’s Hierarchy of Needs Unsatisfied SelfActualization Esteem Needs Social Needs Safety Needs Satisfied Physiological Needs 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 92
  • 93. McGregor’s Theories Theory X- Autocratic • • • • • Dislike Work Avoid Responsibility Little Ambition Forced/Controlled/ Directed/Threatened Motivated by Fear & Money 1/3/2014 Theory Y- Democratic • • • • • Like Work Naturally Works Toward Goals Seeks Responsibility Imaginative, Creative, Clever Motivated by Empowerment IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 93
  • 94. Ouchi’s Theory Z Long-Term Employment Collective Decision-making Individual Responsibility Slow Evaluation/ Promotion Specialized Career Path Holistic Concern for Employees 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 94
  • 95. Herzberg’s Two-Factor Concept Job-Related Achievement Recognition Work Itself Job Environment •Working Conditions •Salary •Policy/Admin. •Supervision Growth/Advancement Responsibility Peer Relationships 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 95
  • 96. Goal-Setting Theory (MBO) Goal-Setting Theory Management By Objectives (1960s) •Employees Motivate Themselves •Help •Coach 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 96
  • 97. Thank you!.. Follow us on facebook.com/3atta2i 1/3/2014 IGIVE - MINIMBA4 - 01 MANAGEMENT - M.SHABAREK 97