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BUS 101 Study Guide_1

BUS 101 Study Guide_1 - BUS 101 Study Guide BUS 101 Course...

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BUS 101 Study Guide Manage Human Capital Create Value Acquire Financial Capital Acquire Customers Suppliers Customers Employees Owners BUS 101 Course Summary Case Analysis 1. Who are the stakeholders? 2. What are their stakes? 3. Who is more important? a. Legitimacy = Seat at the table. Four Levels: i. Ownership ii. Legal Right (there is a law) iii. Moral Right (it is not fair) iv. Interest = No Legitimacy b. Power = Ability to influence the decision (money, public opinion, political power, etc). c. Urgency = Want to influence the decision. d. Stakeholder classifications: i. 3/3 above = Core, 2/3 above = Strategic, 1/3 or 0/3 = Secondary 4. Perspectives of Core Stakeholders a. Economic (is there a financial impact) b. Legal (is a law being broken? What law?) c. Ethical (is there something that is legal, yet unfair? Which one of the Big 12?)
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(Case Analysis Continued) 5. Impact on 4 Business Processes (Internal) a. Acquiring Customers (MKT) i. Product (Customer), ii. Price (Cost), iii. Promotions (Communication) iv. Place (Convenience) b. Acquiring Financial Capital (FIN/ACC) i. Debt ii. Equity iii. Financial Impact, Cost and Risk c. Managing Human Resources (HR) i. Hiring / Firing ii. Retaining the best employees, people management issues d. Creating Value (OPS) i. Raw Materials from Suppliers 1. Processes and specifications to transform inputs from suppliers into more valuable products and services to be sold to customers. 2. Ways to internally reduce costs or improve quality. ii. Strategic Hierarchy Connections 1. Corporate Strategy 2. Business Strategy 3. Functional Strategy a. Operations: i. Structural (bricks and mortar), ii. Infrastructural (People & Processes), iii. Technology Strategy (Automation)
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BUS 101 Study Guide_1 - BUS 101 Study Guide BUS 101 Course...

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