Introduction to Contemporary Business
Introduction to Contemporary Business BUSN 110
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This 2 page Class Notes was uploaded by Dominique Mueller MD on Monday September 28, 2015. The Class Notes belongs to BUSN 110 at Old Dominion University taught by Jennifer Usis in Fall. Since its upload, it has received 13 views. For similar materials see /class/215305/busn-110-old-dominion-university in Business Administration at Old Dominion University.
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Date Created: 09/28/15
Five factors of production Land Knowledge Capital Labor Entrepreneurship Business environment Social Technological Economicallegal com petitive Supplydemandaxis production and costprice Four key economic systems Capitalism Socialism communism Strategies for reaching global markets licensing exporting contract manufacturing franchising International joint ventures and strategic alliances Compliance and integritybased ethics Compliance based ethics emphases preventing unlawful behavior by increasing control and penalizing wrongdoers Integrity based ethic codes define the organizations guiding values create an environment that supports ethically sound behaviors and stress a shared accountability among employees Heart of Management four parts planning leading organizing controlling SWOT o S STREGTHS o W WEAKNESSES o OORGANZNG o TTHREATS Forms of planning 0 Strategic 0 Tactical 0 Operational 0 contingency n4 L II39 I u u of quot IandI quot Imanagement o centralized business is ran by appointed officers instead of shareholders o decentralized business is ran by small groups of people or the shareholders life cycle 0 Life cycle introduction 0 growth 0 maturity o decline Marketing mix 0 product 0 price 0 place 0 promotion Marketing environment 0 Microenvironment o Macroenvironment 0 Internal environment Supply chainLogistics The process of moving goods and materials from one place to another