Fall 2010 Study Guide 2 (6 - 9)

Fall 2010 Study Guide 2 (6 - 9) - Management 305, Study...

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Management 305, Study Guide (Ch’s 6 - 9) 1. List 3 reasons why a sound business model is important. - Serves as an ongoing extension of feasibility analysis; - Focuses attention on how all the elements of a business fit together and constitute a working whole; - Describes why the network of participants needed to make a business idea viable would be willing to work together; - Articulates a company’s core logic to all stakeholders, including the firm’s employees. 2. List the 4 components of an effective business model. 1. Core Strategy 2. Strategic Resources 3. Partnership Network 4. Customer Interface 3. List and briefly discuss the 2 bases for differentiation. 1. cost leadership - establish the lowest costs in the industry, relative to competitors’ costs, and typically attract customers on that basis. 2. Differentiation- provides unique or different products and typically competes on the basis of quality, service, timeliness or some other dimension important to the C. 4. List the 3 elements of a company’s customer interface. 1. Target market 2. Fulfillment and support 3. Pricing structure 5. List 3 ways to establish a strong ethical culture in the new venture. 1. Lead by example 2. Establish a code of conduct 3. Implement an Ethics training program 6. List 3 ways of avoiding legal disputes in the new venture. 1. Meet all contractual obligations 2. Avoid undercapitalization 3. Get everything in writing 4. Promote business ethics 7. List the 4 most common forms of business. 1.
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This note was uploaded on 03/28/2011 for the course MNGT 305 taught by Professor Chadwick during the Spring '11 term at Nicholls State.

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Fall 2010 Study Guide 2 (6 - 9) - Management 305, Study...

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