quiz 2

• what are the domains of management?


  people, money, and managing other organizations & resources
• what do people have to do with management?


  you have to manage interpersonal relationships within organizations
• what does money have to do with management?


  it's about how we can raise capital, spend the money, and organize the money
• value chains are one way. value loops are fluid.
• value chains

  input - acquire the resources they need

  conversion process - engage in day-to-day operations to use and ass value to these resources

  outputs - utilize its value-added outputs to further its interests
• value loops take into account the external environment
• what parts of the external environment do value loops need to take into account?


  sociocultural, natural, political, and economic/technological
• human resource management


  how organizations find good people and train, compensate, promote, and dismiss them
• human resource management focuses on people through the value chain
• finance


  about raising and investing money and the best way to do so
• accounting


  measuring wealth and the financial impact of transactions
• supply chain management


  focuses on the input side - inter-organizational logistics and ensuring organizations find the best ways to get supplied
• operation management


  about the conversion process, about finding the best way to convert inputs into outputs
• marketing


  planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services
• marketing helps organizations to sell outputs
• what are the three elements of a value chain?


  inputs, conversion process, and outputs
• what are the three domains of management?


  members, money, and other organizations resources
• human resource management


  members and all three elements of a value chain(inputs, conversion process, and outputs)
• finance


  money and inputs & outputs
• accounting

  money and the conversion process
• supply chain management


  other organizations resources and inputs
• operations management


  other organizations resources and the conversion process
• marketing


  other organizations resources and outputs
• fitting it all together

  A) members

  B) money

  C) other organizations/resources

  D) inputs

  E) conversion processes

  F) outputs

  G) human resource managemnet

  H) finance

  I) finance

  J) raising money

  K) investing money

  L) accounting

  M) supply chain management

  N) operations management

  O) marketing

  
• supply chain management focuses on inter-organizational logistics and specifically on ensuring that organizations find optimal ways to acquire the supplies they need from other organizations
• strategic purchasing


  choose suppliers who offer the best combination of quality inputs, dependable delivery, and price
• inter-organizational relationships (human dimension of supply chain management)


  develop long-term relationships with suppliers to facilitate trust, supplier confidence to make long-term investments that enhance their ability to perform, and stable and integrated transportation of incoming logistics.
• globalization is the increasing movement of goods, services, and capital across national borders
• transnational corporations


  firms that control assets abroad

  such as: apple, coca-cola
• international financial and trade institutions push the globalization agenda


  • world trade organization
  • the world bank
  • international monetary fund
• other important organizations (in globalization)

  international NGOs and local countries & economies
• operations management: directing and controlling the processes that convert an organization's resources(inputs) into finished goods and services(outputs)
• what are the key dimensions of operations management?


  1. qualtity
  2. dependability
  3. speed/flexibility
  4. cost
• externalities


  the cost or benefit that affects a party who didn't choose to incur that cost or benefit
• examples of externalities include pollution or education
• how do businesses contribute to climate change?


  • outsourcing
  • major contributor to the carbon in the atmosphere
  • fund climate change skepticism
  • lobbying against regulation
• how does climate change negatively impact businesses?


  • water-depended businesses
  • tourism
  • ski resorts have to close
  • commodity-based businesses(oil or steel) have to acknowledge it
• how have businesses been part of the solution to climate change?


  technical innovations such as clean energy(wind, solar, carbon capture), meat replacements, and electric vehicles
• regulations: policies that are set up by the government
• strengths of regulations

  • power for oversight and sanctions in cases of non-compliance
  • externally controlled so more stakeholder interests considered