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This 5 page Class Notes was uploaded by Tiarra Jensen on Monday September 7, 2015. The Class Notes belongs to MQM 220 at Illinois State University taught by Jia in Fall 2015. Since its upload, it has received 42 views. For similar materials see Business Organization and Management in Business, management at Illinois State University.
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Date Created: 09/07/15
MQM 220 Business Organization and Management Teacher Heather J ia Note taker Tiarra Jensen tiiens1ilstuedu Week 2 Anything emphasized during class discussion will have a next to it These notes are meant to be partnered with the slides that Heather J ia provides on ReggieNet Dav 3 August 25 2015 Slides are available for print out on ReggieNet Chapter 2 I Slide One Understanding Managements Context Constraints and Challenges a Slide Two 0 Organizational Environment External Constraint external problems outside of the business that affects the business 0 Organizational Culture Internal Constraint internal problems Inside of the business that affects the business Class Example Same Company Hyvee but there are different expectations from store to store because different people put different needs above others i Slide Three Organizational Environment 0 Global Greece and China China s economy is slowing down Greece cannot pay debt and had to take loan from European Union Greece is affecting the entire European Union s currency as a Whole So even though Germany is doing well since it is part of the European Union the currency is still going down 0 PoliticalLegal Minimum Wage going up effects the business owners employee s and the customers Owner will have more business expenses which may lead to higher prices for goodsservices which effect the customers Employee s who make minimum wage will make more employee s who make more than minimum wage will feel that they deserve a raise as well Other examples Marijuana legalization gay marriage etc 0 SocialCultural Fortune 500 companies are trend setters Ex Facebook has started a paid maternity leave for men that will most likely be a norm for all companies in the future 0 Technological online shopping 0 Demographics State Farm hires a lot of people from India this leads to their being a larger population of Indian s in the Twin Cities which then raises a demand for Indian Restaurants This is why we have a rather large number of Indian restaurants in the twin cities 0 Economic China s Economy is crashing Yet before this America was planning to raise interest rates since they are at record low s however since china s market is crashing America will most likely postpone raising interest rates Slide 4 0 Environmental Uncertainty How certain are we for the direction they re headed More certainty more likely to make a move 0 Environmental Coleexitv How things are changing and the number of things that are changing Example 1not very complex 10very complex Slide 5 Stakeholders are anyone who has something to lose gain from a company Basically everyone is a stakeholder for some company Think of the places you shop if they go out of business you will have to shop elsewhere if they do really well then they may raise prices Slide 6 Just a visual of all the possible stakeholders out there Slide 7 0 Organizational Culture In business culture means different things Examples are but are not limited to shared patterns of belief ISU redbirds even though ISU is not the only school that has redbirds as a mascot the community relates redbirds to ISU 0 Strong culture Success strengthens the values that are shared amongst a company Examples ISU is more into academics whereas other schools are more into athletics Slide 8 Things that drive a culture She reference the movie The Internship Slide 9 0 A Rules Procedures and Charts explanation of images in organization A from left to right paperwork Organizational chart for who everyone reports to individual success 0 B explanation of images in organization B from left to right Creative thinkingrisk taker everyone collaborates together and works as one big team team success Slide 10 0 Example for the second idea under weak cultures When a company needs money but then takes a private jet to a meeting why do they need money if they can afford a private jet 0 Example for the third idea under strong cultures Very strong companies typically have start up stories that many people know about including externals Nike s story I is awesome I strongly encourage you to look that up if you are not familiar with it he used a waf e iron for inspiration 0 Personal Note Strongly Encourage you to look up the start up story for the business s that you apply to Slide 11 The founder is the most important source of culture in a business heshe sets the tone for the culture in a business Ex The mission statement Examples boot camp they break you down and rebuild you to fit their culture Slide 12 0 Rituals Football team They lost a game so they set the score above the door and they hit it each time they leave to remember their mistakes and not do it again Wendy s pick on new guy by sending them to the find the basement that does not exist or to take the ag down when there isn t one etc Slide 13 J arging talking in work terms to family members For instance people will say Oh he just made an ID 10 T error put it close together IDIOT idiot Sounds super sophisticated to others when really it s pretty demeaning Hospitals also have their own language On the boards in nursery homes you will see a bunch of medical terminology that have no meaning that most people assume to have some medical meaning behind it however that s not always the case For example BUB stands for Butt Ugly Baby and FUB well I m sure you know what that stands for m Day 4 August 27 2015 Slide 14 You need to know what kind of an organization you re in Is it a Do it now and ask questionsforgiveness or apology later kind of economy or is it an Ask for permission first organization Slide 15 Pretty self explanatory Slide 16 Class Examples 0 Starbucks Sometimes give a coupon for your next visit Free drink if delayed due to previous customer mess up and the time it took to fix the mistake Free new drink if you don t like the drink avor you tried 0 4 Seasons They will cover anything that the customer needs as long as it does not exceed 100 For instance if the customer forgot their sunglasses then they will go buy you some Chapter 3 goes into detail on Chapter 2 Slide 3 I Slide 1 Managing in a global environment Slide 2 Ethnocentric attitude America s are very susceptible to this Slide 3 host country country you re visiting Home country country you are from Geocentric attitude Find all countries equally successful in their own way Slide 4 European Union started due to trading with different currencies it became an issue so they started a union to make their trading habits more similar also because Europe was the dominant country until America was formed so they needed allies in order to compete This is very similar to the way the US was when it was 13 colonies Slide 5 Map Slide 6 Free transfer of labor material etc It does not mess with any government policies or type of currency used Slide 7 Global Sourcing you experience this personally when you call a call center and you get someone with an extremely strong accent ATampT outsources to India or when you buy clothing that says Made in China They do this because it is a low investment and a low commitment option Slide 8 0 Licensing Allow other companies to produce their products with their label on it Example of a company that did not follow this law Steven Berries they had cheap clothing with different school logo s on all of them They did not pay for the license for the logo s When the schools found out they went bankrupt and out of business 0 Franchising Sell off business rights Don t own certain stores so they can have their own policies as long as they follow certain guidelines Example McDonald s doesn t actually own anything outside of the country they just sell off their rights and they make it their own based on where they live and the certain type of diet that is in that area Personal example to show why this is important In India when McDonald s was trying out their first store there it was burned down because they were planning to have beef there When they retried opening a second store they came back with vegan meat only and now they have a couple of McDonald s in India Slide 9 0 Strategic Alliance Two separate companies that come together and make a new company Example Apple and Disney created PixarFiats w Chrysler Barnes and Noble w Starbucks 0 Joint Venture Sony and Ericson Sony Ericson Slide 10 Setting up a completely separate country that stands alone in a different country They still own this company Example Coco cola in Mexico it uses real can sugar and is not as carbonated a Slide 11 pretty self explanatory Finish Chapter next week
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