{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Fall 2010 Study Guide 2 (6 - 9)

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

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
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.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern