Week 7. Value measurement and intermediaries.pptx

Week 7. Value measurement and intermediaries.pptx - ADMS E...

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1010 ADMS E X P L O R I N G T H E F U N C T I O N S O F B U S I N E S S T O D A Y J O E L M A R C U S . A T K I N S O N 2 0 5 . 4 1 6 7 3 6 2 1 0 0 X 2 2 8 6 8 . M A R C U S @ Y O R K U . C A
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Midterm exam: Saturday, October 21, 5:00-6:30pm Sections C&F – ACW 109 Pre-exam extended office hours: Thursday, October 19, 10am-2pm Group debates – you should start working on this during reading days!! HOUSECLEANING
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Week 10. Get t i ng the word out ( MAR KETING, PUBL IC RELATION S, COMMUN ICAT IONS ) Week 9 . The hum a n factor ( HUMAN RE S O URCES MAN AGEMENT; OR G. BEHAV IOUR ) Week 8. Value chains ( MA N AGEMENT SC IE N CE ; OP’S & SUPPL Y C H A IN MGMT; IB ) Week 7. Val ue measurement & intermedia ries ( ACC OUN TIN G; FINANC E ) Week 3. Getting organized ( ORGANIZATION THEORY ) Week 5. Questions of value ( ECONOMICS; STRATEGY ) Week 4. Current issues, future challenges ( ETHICS; CSR; SUSTAINABILITY; EMERGENCY MGMT ) Week 1. Getting engaged: Introduction to critical thinking and contemporary business issues Week 12. COURSE REVIEW AND EXAM PREPARATION Week 1 1. Business for the future ( EN TREPREN EURS H IP , INNO VATION ) Week 6. MIDTERM EXAM Week 2. So, you want to be a manager (MANAGEMENT) COURSE MAP
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AGENDA Causal claims Accounting primer & balanced scorecard Finance primer & the money game
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CAUSAL CLAIMS
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FROM WEEK 2…
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Interpretation of cause & effect relationships Help make sense of the world Answer to “why” questions (Because…) Natural - basic to human nature The basis for decision making and reasoned action CAUSAL CLAIMS CAUSE EFFECT
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Can be very difficult in complex and uncertain situations characteristic of business Multiple causes Rival causes Three situations where we’ll want to consider rival causes: 1. When there are differences between groups 2. When two variables are correlated 3. When one event follows another event DETERMINING CAUSES EFFEC T CAUSE CAUSE CAUSE CAUSE EFFEC T CAUSE (APPARENT) CAUSE (RIVAL)
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Causal claim: Alternative explanations? Different admission standards Different locations lead to different student opportunities When differences between groups is claimed need to ask: “Are there any other differences that may be relevant” RIVAL CAUSES #1: DIFFERENCES BETWEEN GROUPS CAUSE: UNIVERSITY PROGRAM XYZ EFFECT: BETTER JOB OFFERS (THAN OTHER PROGRAMS)
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Correlation: Co = together or jointly Relation = are related to Two things are related to each other Correlation can be explained through one of three causal links: RIVAL CAUSES #2: CORRELATIONS EFFECT CAUSE EFFECT CAUSE EFFECT CAUSE (APPARENT ) CAUSE (TRUE) X 1. Direct causation 2. Reverse causation 3. Third factor
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HAWTHORNE EXPERIMENTS PRODUCTIVITY SPECIAL ATTENTION X
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ACCOUNTING (A PRIMER)
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Prepared according to Generally Accepted Accounting Principles (GAAP): National and International standards Financial statements: Balance sheet: Statement of financial position at a given point in time Reports: Assets: Economic resources (Things of value)
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