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adownload_doc-1.php - Bus-X 100 Exam I Study Guide Chapter...

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Bus-X 100 Exam I Study Guide Chapter 1 I. Five Forces Framework (frameworks help every organization) a. Suppliers i. Worst case: supplier controls full supply (there are no competitors) and the customer is unimportant (supplier has a monopoly) 1. We need it, it doesn’t need us 2. We get in this mess b/c we underestimate the power of the supplier b. Customers i. Worst case: they can control the company (by prices, etc.) ii. To stop this, companies can merge c. i. Worst case: someone can make a product better or in a different way ii. To stop this: 1. Research and development a. Without research and development, you will not have the breakthrough product 2. Technology: the amount of money spent on research and development in the industry iii. Industry with the best research and development is pharmaceuticals/drugs d. Barriers to Entry i. Come up with a new idea e. Competitors i. Best case: Bausch and Lomb II. Issue: Naming the Stadium a. Possible name- Jack Trice of Cyclone b. Cyclone won c. Example of barriers to entry III. Key Notes from Class a. Socialism has government ownership of basic industries b. Suppliers are generally willing to supply more at a higher price c. Manufacturing economy does not include cable television d. If you have a know how product with technological expertise, which would you NOT use? i. The answer is joint venture because then other people could take your technology e. What if we had management know-how and expertise? What would be most desirable? i. The answer is joint venture IV.Involvement:
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a. Least involved : i. Exporting, importing ii. Trading company iii. Licensing, franchising iv. Contract, manufacturing b. Most involved : i. Outsourcing ii. Joint venture iii. Direct investment and subsidiary V. Business Horizon a. China i. Guanxi- the fraternity of companies that sometimes feud with each other ii. Ying/yang- dynamic equilibrium – Phil Jackson 1. Yang- the push/ the active one 2. Yin- the yielding one b. Travel where there is no enemy go in the back door where there is no enemy c. The weakness of strength- opponent’s “mo” (momentum) the greedy person loses d. Serpent and dove: inside each one of us, we are both and we know what role to play and when e. Last things first: human element people will remember no matter what, the memories live on- stories passed from generations down i. Must know how to win: if I’m in a competition with you, I’m in to win and after the competition there is respect and grace ii. You can take a man’s money and life, but you cannot take their face (pride) iii. Do not brag about winning/ it is not phony to be respectful f. In death ground… i. Fight back! ii. Do not go down without a fight
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This note was uploaded on 04/19/2011 for the course BUS 100 taught by Professor Mo during the Fall '08 term at Indiana.

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adownload_doc-1.php - Bus-X 100 Exam I Study Guide Chapter...

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