This document outlines key concepts about business organizations and management. It distinguishes between for-profit businesses and non-profits, identifies the four factors of production as natural resources, capital, human resources and entrepreneurship. It describes the private enterprise/capitalism system and six eras of business. Contemporary business is influenced by alliances, technology and environmental concerns. Characteristics of admired companies include solid profits, stable growth, ethics and responsibility. Skills needed for 21st century managers include critical thinking, creativity, leadership and vision.
A process by which an organization changes its internal structure by revamping departments, ownership, or operations and processes. The purpose of restructuring is to make the organization more profitable and integrated.
Solutions for Creating Sustainable Competitive Advantage in Small Businessesijtsrd
In the globalization stage, all bussinesses exist for some purpose or goal, and managers have the responsibility for combining and using organizational resources to ensure that the organizations achieve their purpose. Strategic Management is a complex concept which has to do with an organization's scope and direction of activities, matching the activities with the environment and resource capability, as well as the values, expectations and goals of those influencing strategy. This research focused on small businesses, their features and dynamics in the course of making use of the tools and techniques in strategic management. It investigates how small businesses, in their course of building competitive advantage, make strategic decisions, and the factors related to the mere smallness of such businesses as affecting strategic choice are discussed. Dr. Le Nguyen Doan Khoi "Solutions for Creating Sustainable Competitive Advantage in Small Businesses" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6 , October 2021, URL: https://www.ijtsrd.com/papers/ijtsrd47499.pdf Paper URL : https://www.ijtsrd.com/management/business-economics/47499/solutions-for-creating-sustainable-competitive-advantage-in-small-businesses/dr-le-nguyen-doan-khoi
A process by which an organization changes its internal structure by revamping departments, ownership, or operations and processes. The purpose of restructuring is to make the organization more profitable and integrated.
Solutions for Creating Sustainable Competitive Advantage in Small Businessesijtsrd
In the globalization stage, all bussinesses exist for some purpose or goal, and managers have the responsibility for combining and using organizational resources to ensure that the organizations achieve their purpose. Strategic Management is a complex concept which has to do with an organization's scope and direction of activities, matching the activities with the environment and resource capability, as well as the values, expectations and goals of those influencing strategy. This research focused on small businesses, their features and dynamics in the course of making use of the tools and techniques in strategic management. It investigates how small businesses, in their course of building competitive advantage, make strategic decisions, and the factors related to the mere smallness of such businesses as affecting strategic choice are discussed. Dr. Le Nguyen Doan Khoi "Solutions for Creating Sustainable Competitive Advantage in Small Businesses" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6 , October 2021, URL: https://www.ijtsrd.com/papers/ijtsrd47499.pdf Paper URL : https://www.ijtsrd.com/management/business-economics/47499/solutions-for-creating-sustainable-competitive-advantage-in-small-businesses/dr-le-nguyen-doan-khoi
This is for the Creditable Fashion Presentation the working shoes .docxkbrenda
This is for the Creditable Fashion Presentation the working shoes that we are presenting for a new product
BUDGETING, VARIANCE ANALYSIS, AND PERFORMANCE EVALUATIONS
Required:
Make comments and suggestions on the following topics in your presentation.
· Enterprise and corporate performance management.
· Behavioral change management.
· The balanced score card.
· How to foster goal congruence for the organization and employees.
SLP Assignment Expectations
Submit a PowerPoint presentation or a Word Document. A PowerPoint presentation should have no more than six slides and a Word document cannot exceed two pages. Use words, tables, and graphs to make a succinct presentation. Document all sources and provide links at the end. It is acceptable to add another slide or page to list the sources.
Business Ethics and
Social Responsibility
http://www.wileybusinessupdates.com
Chapter
2
1
Explain the concern for ethical and societal issues.
Describe the contemporary ethical environment.
Discuss how organizations shape ethical conduct.
1
Learning Objectives
Describe how businesses can act responsibly to satisfy society.
Explain the ethical responsibilities of businesses to the general public.
Describe the responsibilities to investors and the financial community.
2
3
4
5
6
2
Business Ethics
The standards of conduct and moral values governing actions and decisions in the work environment.
Social responsibility
Balance between what’s right and what’s profitable
Often no clear-cut choices
Often shaped by the organization’s ethical climate
Concern for Ethical and
Societal Issues
3
Ethical Challenges
Situation in which a business decision may be influenced for personal gain.
Telling the truth and adhering to deeply felt ethical principles in business decisions.
Businesspeople expect employees to be loyal and truthful, but ethical conflicts may arise.
4
The Contemporary Ethical Environment
High-profile investigations and arrests in headlines.
Vast majority of businesses are ethical.
New corporate officers charged with deterring wrongdoing and ensuring ethical standards.
See how Walmart highlights corporate responsibility on its website.
5
Individuals can make the difference in ethical expectations and behavior.
Putting own interest ahead of the organization
Lying to employee
Misrepresenting hours
Safety violations
Internet abuse
Technology is expanding unethical behavior.
Individuals Make a Difference
6
Development of Personal Ethics
7
How Organizations Shape Ethical Conduct
Code of Conduct: Formal statement that defines how the organization expects and requires employees to resolve ethical questions
8
Ethical Leadership
Executives must demonstrate ethical behavior in their actions.
use clear, explicit language rather than euphemisms for corrupt behavior
encourage behavior that generates and fosters ethical values
practi.
Can you use more useful information in your business and don't know where to find it. Then read this IBM white paper to see how using your staff can use the power of social media to collaborate on projects to make your business run smoother.
Read attachedpages about 3-M and their approach to innovationRes.docxmakdul
Read attachedpages about 3-M and their approach to innovation
Research one of 3M’s innovations.
Write a full two page paper in which you respond to the following questions:
1. How did the creative thinking process work in the development of this product? Describe what took place in each of the four steps.
2. Analyze what type of innovation this was—invention, extension, duplication, or synthesis. What characteristics of the innovation have led you to this conclusion?
3. Explain which of the sources of innovative ideas discussed in this week’s reading help account for this product’s success and why?
Include a minimum of two sources
The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship
Thus, 3M’s philosophy was born. Innovation is a numbers game: The more ideas, the better the chances for a successful innovation. In other words, to master innovation, companies must have a tolerance for failure. This philosophy has paid off for 3M. Antistatic videotape, trans- lucent dental braces, synthetic ligaments for knee surgery, heavy-duty reflective sheeting for construction signs, and, of course, Post-it notes are just some of the great innovations devel- oped by the organization. Overall, the company has a catalog of 60,000 products.40
Today, 3M follows a set of innovative rules that encourages employees to foster ideas. The key rules include the following:
•
Don’t kill a project. If an idea can’t find a home in one of 3M’s divisions, a staffer can devote 15 percent of his or her time to prove it is workable. For those who need seed money, as many as 90 Genesis grants of $50,000 are awarded each year.
• Tolerate failure. Encouraging plenty of experimentation and risk taking allows more chances for a new product hit. The goal: Divisions must derive 25 percent of sales from products introduced in the past five years. The target may be boosted to 30 percent in some cases.
• Keep divisions small. Division managers must know each staffer’s first name. When a division gets too big, perhaps reaching $250 million to $300 million in sales, it is split up.
• Motivate the champions. When a 3M employee has a product idea, he or she recruits an action team to develop it. Salaries and promotions are tied into the product’s progress. The champion has a chance to someday run his or her own product group or division.
• Stay close to the customer. Researchers, marketers, and managers visit with customers and routinely invite them to help brainstorm product ideas.
•
Share the wealth. Technology, wherever it is developed, belongs to everyone.41 3-4c structuring the Work environment
Structuring the Work environment
When establishing the drive to innovate in today’s corporations, one of the most critical steps is to invest heavily in an innovative environment. A top-level manager’s job is to create a work environment that is highly conducive to innovation and entrepreneurial behaviors. Within such an environment, each employee has the opport ...
Understanding There are many factors All these forces come under one word cal...Yashwanth Rm
Understanding the Business :
To understand any business the critical step is to explore all the factors related to business and properly judging its impact on the business. There are many factors and forces which have considerable impact on any business. All these forces come under one word called environment.
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
Top mailing list providers in the USA.pptxJeremyPeirce1
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
An introduction to the cryptocurrency investment platform Binance Savings.Any kyc Account
Learn how to use Binance Savings to expand your bitcoin holdings. Discover how to maximize your earnings on one of the most reliable cryptocurrency exchange platforms, as well as how to earn interest on your cryptocurrency holdings and the various savings choices available.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
4. 1 Distinguish between business and
5
Explain how today’s business
workforce is changing.
2 Identify and describe the factors of
6
Describe how the nature of work
itself is changing.
3 Describe the private enterprise
7
Identify the skills and attributes
managers need to lead businesses in
the 21st century.
4 Identify the six eras of business, and
8
Outline the characteristics that make
a company admired by the business
community.
not-for-profit organizations.
production.
system, including basic rights and
entrepreneurship.
explain how the relationship eraincluding alliances, technology, and
environmental concerns-influences
contemporary business.
5. Profit-seeking activities and enterprises provide
goods and services necessary to an economic
system.
Profit is the reward for businesspeople who take the
risk involved to offer goods and services to
customers.
7.
Capitalism(Private Enterprise)
Adam Smith is the father of capitalism.
Economic system determines business ownership,
profits and resources
Rewards firms for their ability to serve the needs of
consumers
Minimized government intervention
To compete, each firm must find a competitive differentiation – the
unique combination of organizational abilities, products, and
approaches.
8.
9. The risk-taker
Provides innovation
Entrepreneurial thinking
is impor tant inside of large firms.
10.
11.
12.
Relationship Management
Relationship management involves gathering knowledge of
customer needs and preferences and applying that
understanding to get as close to the customer as possible.
Relationship management depends upon
technology.
13. A partnership is an
affiliation of two or
more companies that
help each other
achieve common
goals.
A strategic alliance
is a partnership
formed to create
a competitive
advantage for both
parties.
14.
Dedicated workers who can foster strong
ties with customers
Capable of high-quality production
Ability to compete in global markets
firm’s competitive differentiation
15.
Blending individuals of dif ferent genders,
ethnic backgrounds, cultures, religions,
ages, and physical and mental abilities.
Diverse employee teams and workforces tend to perform
tasks more effectively and develop better solutions to
business problems because of their varied perspectives
and experiences. Attention to diversity issues can help
them avoid damaging legal battles.
16.
17. Outsourcing is using
outside vendors to
produce goods or
fulfill services and
functions that were
previously handled
in-house or in-country.
Off-shoring is the
relocation of business
processes to lower
cost locations
overseas.
18. and Innovation Through Collaboration
Workers want a flexible work-life balance
that rewards them for their skills.
Part-time and temporary workers are
growing
The relationship between employees and
workers needs to be a valuable partnership
that drives innovation through collaboration.
20.
Critical thinking is the ability to analyze
and assess information to pinpoint problems
or opportunities.
Creativity is the capacity to develop novel
solutions to perceived organizational
problems.
21.
Guide employees and organizations through changes
Managers must be comfortable with tough decisions.
Organizational change may come internally from new company goals, emerging
employee needs, labor union demands or production problems.
External forces might include feedback from customers, developments in the
international marketplace, economic trends, and new technologies.
Changes brought on by technology, the marketplace and global competition
require leadership.
Some businesses produce tangible goods while others provide services. Businesses are large enterprises like General Electric or Microsoft or the small cleaners in your neighborhood. Profits are the central focus of business because without profits, a company could not survive. Organizations like the Red Cross and the American Heart Association are not-for-profit organizations. These are businesslike establishments that have a primary objective other than returning profits to their owners. These organizations play an important role in society by placing public service above profits.
Economic systems require certain inputs: Natural Resources, Capital, Human Resources and Entrepreneurship. Natural resources include all production inputs that are useful in their natural state. Agriculture, land, building sites, forest and mineral deposits are examples. Capital includes technology, tools, information and physical facilities. Human resources includes anyone who works for a firm. Human resources includes physical labor and intellect. Entrepreneurship is the willingness to take risks to create and operate a business.
Adam Smith first described capitalism in his famous book, Wealth of Nations. The private enterprise minimizes government interference in economic activity. Firms are rewarded for their ability to compete and meet consumer needs. Competition regulates economic life and is a key premise of capitalism in the US. To compete, each firm must find a competitive differentiation – the unique combination of organizational abilities, products, and approaches.
For capitalism to work, the citizens of a private enterprise economy must have certain rights. Every participant has the right to own, use, buy, sell and bequeath property. Freedom of choice means that a private enterprise system relies on the potential for citizens to choose their own employment, purchases, and investments. Profits and competition are explicit rights of the private enterprise.
The willingness of individuals to start a new venture drives economic growth and keeps pressure on existing companies to continue to satisfy customers. The spirit of entrepreneurship is beginning to be recognized inside all firms.
In 400 years, the U.S. business history has gone through six distinct time periods: the colonial period, the industrial revolution, the age of industrial entrepreneurs, the production era, the marketing era, the relationship era. All of this periods are unique because they have influenced U.S business practices in different ways.
Relationship management involves gathering knowledge of customer needs and preferences and applying that understanding to get as close to the customer as possible.
Partnerships and strategic alliances allow organizations to take advantage of available opportunities. A way organizations build relationships to operate responsibly and incorporate issues that customers care about. Environmental concerns continue to influence consumer’s choices. Therefore, companies are researching ways to save energy and increase profits by “going green”.
A skilled and knowledgeable workforce is an essential resource for keeping pace with the changing business world. A first-class workforce can be the foundation of a firm’s competitive differentiation, providing important advantages over competing business.
Diverse employee teams and workforces tend to perform tasks more effectively and develop better solutions to business problems because of their varied perspectives and experiences. Attention to diversity issues can help them avoid damaging legal battles.
The nature of work is changing. The manufacturing industry is declining while the service industry is growing. Firms must rely heavily on well-trained service workers with knowledge, technical skills, the ability to communicate and deal with people, and a talent for creative thinking. More service jobs like call centers are being outsourced.
Workers want a flexible work-life balance that rewards them for their skills. These workers use technology and manage their own careers. The relationship between employees and workers needs to be a valuable partnership that drives innovation through collaboration.
Today’s companies look for managers who are intelligent, highly motivated people with the ability to create and sustain a vision for the organization. The challenges in today’s marketplace require for managers to perceive the marketplace needs and what an organization must do to satisfy them. There are many challenges facing today’s managers.
Creativity and critical thinking are imperative in today’s workplace but they must lead to action. These are essential characteristics of the 21st-century workforce. These skills are important throughout the organization.
Changes brought on by technology, the marketplace and global competition require leadership. Organizational change may come internally from new company goals, emerging employee needs, labor union demands or production problems. External forces might include feedback from customers, developments in the international marketplace, economic trends, and new technologies.
There are a variety of things that make a company admired. As you learn more about business, you will decide for yourself what makes a company admired.