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29 Cards in this Set
- Front
- Back
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general external environment of an organization
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cultural, economic, legal-political, educational conditions
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specific external environment of an organization
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includes people and groups with whom an organization interacts
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environmental uncertainty
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a last of complete information about the environment or what exists and what developements may occur
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customer relationship management
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built lasting relationships with and add value to customers
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supply chain management
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links all operations dealing with resource supplies
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functions of an organizations culture
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system of shared beliefs and values that guides behavior in organizations
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characteristics of the global economy
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resources, markets and competition are world-eide in scope
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transnational corporations
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a multinational corporation that operates world-wide on a boarderless basis
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multinational corporations
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a nusiness with extensive international operations in multiple countries
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competitive advantage
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allows an organization to deal with market and environmental forces better than its competitors through products, pricing, customer service, cost efficiency, and quality
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global sourcing
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materials and services are purchased abroad
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licensing
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one firm pays for rights to make and sell another firms products
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franchising
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a fee is paid to use another firms name and operating methods
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joint ventures
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operated in a foreign country through co-ownership with local partners
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foreign subsidiaries
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a local operation completely owned by a foreign firm
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dimensions of Hofstede's framework for understanding national cultures
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power distance, uncertainty avoidence, individualism vs collectivism, masculinity vs femininity, time orientation
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monochronic culture
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people tend to do one thing at a time
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polychronic culture
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time is used to accomplish many different things at once
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low-context culture
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emphasize communicatoins via spoken or written words (common in US, Germany, and Canada)
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high-context culture
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rely on nonverbal and situational cues as well as spoken and written words; use body language, phyisical settings, and past experiences (use dinner parties and social gatherings to get to know others)
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characteristics of japanese management practices
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lifetime employment; gradual career advancement; collective decision making
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employee who works in a foreign country
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ex-patriot/expat
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characteristics of entrepreneurs
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internal locus of control
passion and action oriented flexibility high need for achievement high energy levels self confidence tolerance for ambiguity self reliance desire for independence |
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essentials of business plans
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executive summary
industry analysis company description product/service description market description marketing strategy operation description staffing description capital needs milestones |
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realities of family-owned and small businesses
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succession problem
family business feud lack of experience, commitment, strategy or expertise poor financial control ethical failure growing too fast |
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debt financing
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involves borrowing money that must be paid back over time with interest
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equity financing
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involves exchanging ownership share for outside investment monies
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initial public offering (ipo)
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an initial selling of shares of stock to the public at large
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succession plan
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a formal statement that describes how the leadership transition and related financial matters will be handled when the time for changeover arrives; includes procedures for choosing or designating new leadership, legal aspects of ownership transfer, and financial and estate plans relating to the transfer
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