Chap03 Biz 20091005 (Final)

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Chap03 Biz 20091005 (Final)

  1. 1. Lecture 03
  2. 2. 楊志遠 Jerry Yang
  3. 3. Chapter 1 Review-1 What is Business? <ul><li>Meanings of business defined as commerce, occupation and organization </li></ul><ul><li>Four productive resources & cost : land, capital, enterprise, labor. </li></ul><ul><li>Forces of supply and demand determine market price. </li></ul><ul><li>Business model makes competitive advantage and the difference between profit and profitability </li></ul>
  4. 4. Chapter 1 Review-2 What is Business? <ul><li>“ Invisible had of the market ” lead to increasing profit and wealth. </li></ul><ul><li>Business organizations creat to structure business exchanges and facilitate business commerce . </li></ul>
  5. 5. Four productive resources & cost : land, capital, enterprise, labor.
  6. 6. Meanings of business defined as: commerce, occupation and organization
  7. 7. Business Functions for Competing Advantages
  8. 8. Chapter 2 Review-1 The Evolution of Business: Commerce, Occupation, and Organizations <ul><li>The possession of property rights control productive resources. </li></ul><ul><li>Feudalism( 封建制度 ) disappears and the issues in combining land and labor speed the accumulation of capital. </li></ul><ul><li>Money functions its development promote the rapid development of capital and enterprise. </li></ul>
  9. 9. <ul><li>Mercantilism (重商主義) system, speed the development in global trade. </li></ul><ul><li>Industrial revolution and the development of capitalism, unionism, and the middle class system make the society and business evolved. </li></ul><ul><li>Forms of business organization used to manage business commerce changed over time. </li></ul>Chapter 2 Review-2 The Evolution of Business: Commerce, Occupation, and Organizations
  10. 13. Entrepreneurs, Managers, and Employees Chapter Three © 2007 The McGraw-Hill Companies, Inc., All Rights Reserved. McGraw-Hill/Irwin Introduction to Business
  11. 14. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Describe the nature of entrepreneurship and the kinds of entrepreneurial opportunities that can increase the profitability of business commerce, occupations, and organizations. </li></ul><ul><li>Identify the process of creative destruction leads to the emergence of new companies , the decline of established companies and raises an society’s standard of living. </li></ul><ul><li>Appreciate( 察知 ) the problems involved in aligning the interests of manager with those of a company’s owners. </li></ul>
  12. 15. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Distinguish the three different levels of managers and understand the different roles they perform to increase efficiency, effectiveness, and profitability . </li></ul><ul><li>Differentiate two main approaches employees can take to performing their roles in a company and the way their performance affects their long term career prospects. </li></ul>
  13. 16. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Globalization of the marketplace has heightened the complexity and competition in business today </li></ul><ul><li>Entrepreneurs, Managers and employees are being pressured to use resources more efficiently and effectively and become more productive than their competitors </li></ul>
  14. 17. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Entrepreneurs </li></ul><ul><li>The person providing the enterprise, that spirit, energy, expertise, and insight not only seize business opportunities but must satisfy the customers product needs at a profit </li></ul>
  15. 19. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>If you behave as an entrepreneur and take advantage of occupational opportunities , this will be a major determinant of your future ability to build human capital and personal wealth </li></ul>
  16. 21. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>A first- mover advantage may be thought of as not necessarily the best product on the market but the first on the market </li></ul><ul><li>Competitors then develop “me-too” products. </li></ul><ul><li>Evaluate Pringles – a first-mover or me-too product? Why? </li></ul>
  17. 23. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Intrapreneurship ( 內部創業 ) </li></ul><ul><li>The entrepreneurial activity that takes place inside an established company </li></ul><ul><li>G. Pinchot said &quot;Intrapreneurs are employees who behave like entrepreneurs on behalf of the company. They are the visionaries who act” </li></ul>
  18. 24. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Intrapreneurship( 內部創業 ) </li></ul><ul><li>They become the hands-on drivers of a specific innovation within an organization. Research shows that intrapreneurs are an essential ingredient of the successful innovation process </li></ul>
  19. 25. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Entrepreneurs are intrinsically (本質上) motivated and driven by personal or inner motives not extrinsically (動機上) motivated and not driven by money or personal wealth </li></ul><ul><li>Evaluate the success of G. Pinchot as an entrepreneur and relate to intrapraneuring </li></ul>
  20. 26. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Entrepreneurs may be guilty of “creative destruction” by driving old, inefficient companies out of business by new, more efficient business commerce, occupations, and organizations </li></ul><ul><li>Isn’t this capitalism? </li></ul>
  21. 28. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Capitalism is grounded in the protestant ethic that we are stewards (服務者) of all resources and we have an obligation to use these resources to the best of our ability </li></ul>
  22. 29. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Compare this to the Industrial Revolution, IT revolution and the changing role of the computer </li></ul><ul><li>Evaluate the IT versus Industrial Revolution and relate to Capitalism </li></ul>
  23. 30. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Enterprise and entrepreneurship is a vital 重大的) ingredient (組成部分) of business survival and success and needs a catalyst (催化劑) to allow a business to prosper and grow </li></ul>
  24. 31. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>As the business grows, the entrepreneurs needs to delegate – give up decision-making authority over work activities to other people </li></ul><ul><li>Managers, coordinate and control to achieve a goal </li></ul>
  25. 32. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Management </li></ul><ul><li>A process of the skillful use of resources to accomplish a purpose or goal </li></ul>
  26. 34. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Top managers , especially, are provided with extremely high financial rewards ( 高鐵董事長 殷琪 ) </li></ul><ul><li>Stock options – the right to buy company stock at a fixed price in the future </li></ul>
  27. 35. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Stock options not only motivate managers to make competent decisions but help the company build its capital and thus its stock price </li></ul>
  28. 36. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Public stock corporations are usually created with a board of directors to protect the stockholders interests </li></ul><ul><li>The chief executive officer ( CEO ) reports directly to the Board </li></ul>
  29. 38. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>The CEO creates a hierarchy of managers including top, middle and first-level managers or supervisors </li></ul><ul><li>This hierarchy is usually illustrated as a triangle because of the number of managers in each level </li></ul><ul><li>Evaluate the role of the CEO and relate to the hierarchy of management </li></ul>
  30. 39. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>A second dimension to managers is their business functional expertise and need to be both effective and efficient </li></ul>
  31. 41. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Effectiveness vs. Efficiency </li></ul><ul><li>Effectiveness is “ doing the right thing ” </li></ul><ul><li>Effectiveness focuses on task </li></ul><ul><li>Efficiency is “doing things right ” </li></ul><ul><li>Efficiency focuses on resource </li></ul><ul><li>Evaluate the value, importance and significance of effectiveness and efficiency -- $299.00 ? </li></ul>
  32. 42. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Effectiveness vs. Efficiency </li></ul><ul><li>A high level of efficiency and effectiveness facilitates high profitability </li></ul><ul><li>Low efficiency and low effectiveness leads to bankruptcy </li></ul>
  33. 44. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Business Functions </li></ul><ul><li>Production </li></ul><ul><li>Distribution </li></ul><ul><li>Finance </li></ul><ul><li>Personnel </li></ul><ul><li>Most businesses are structured and managed in a similar functional model </li></ul>
  34. 45. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Management Functions </li></ul><ul><li>Planning </li></ul><ul><li>Leading </li></ul><ul><li>Organizing </li></ul><ul><li>Controlling resources </li></ul><ul><li>Interrelated functions within the management process </li></ul>
  35. 46. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Management Functions </li></ul><ul><li>Planning is choosing the business model and allocating resources and selecting goals </li></ul>
  36. 47. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Management Functions </li></ul><ul><li>Organizing is creating task, culture and reporting relationships to coordinate and motive individuals to achieve the firm’s goals </li></ul>
  37. 48. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Management Functions </li></ul><ul><li>Leading is creating a vision using power, influence, and persuasion for individuals to follow </li></ul>
  38. 49. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Management Functions </li></ul><ul><li>Controlling is evaluating the accomplishment of the planned goals and adjusting as needed </li></ul>
  39. 50. 管理四大功能
  40. 52. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Employee s, not decision makers, perform a role or a set of tasks within a specific job in the organization </li></ul>
  41. 53. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Performing job tasks more efficiently and effectively or “going to the next step” will help you to build human capital </li></ul><ul><li>You are investing in yourself and your increasing capital will give you the opportunity to build personal wealth </li></ul>
  42. 54. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>This “ extra effort” is the first step in managing your career </li></ul><ul><li>Education is the single most important factor that will build your human capital, wealth and well being </li></ul>
  43. 55. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Searching for the right occupation is challenging </li></ul><ul><li>If you send out 100 resumes, you may get as many as five interviews </li></ul>
  44. 56. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Employers look for similar work styles and values and norms in their employees and tend to hire within these characteristics </li></ul>
  45. 57. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>There is a very specific work culture or climate with any given organization </li></ul><ul><li>You need to recognize this culture or “firm fit” in order to increase your attractiveness to the company in the initial interview </li></ul>
  46. 58. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Your resume needs to reflect not only the perquisite skills, attitude, and abilities but also dress and appearance (照片與裝扮) </li></ul>
  47. 59. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>Five Career Stages </li></ul><ul><li>Preparation for work </li></ul><ul><li>Organizational </li></ul><ul><li>Early career </li></ul><ul><li>Mid-career </li></ul><ul><li>Late career </li></ul>
  48. 60. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>How well you manage the challenges involved at each stage determine your long-term prosperity and well-being </li></ul><ul><li>Evaluate Switching Careers video as an employee and relate to it also as a Manager </li></ul>
  49. 61. Chapter 3 Entrepreneurs, Managers, and Employees <ul><li>SWOT Analysis – </li></ul><ul><li>a strategic planning tool to identify: </li></ul><ul><li>STRENGTHS </li></ul><ul><li>WEAKNESSESS </li></ul><ul><li>OPPORTUNITIES </li></ul><ul><li>THREATS </li></ul>

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