DSST Intro to Business

Establishing guidelines organizing division of labor

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establishing guidelines Organizing: Staffing: starts with organizational structure Directing: using human relations, technical, and administrative skills to guide employees Controlling: ensures plans and objectives being carried out Organizational Charts a diagram that shows the structure of an organization Span of Control the number of subordinates a supervisor has. Flextime Flexible schedule with some “core” required hours Regulation Act's: Sherman Act (1890) : prohibits agreements that restrain trade price fixing, market allocation, boycotts Clayton Act (1914): Prohibits price discrimination, tying agreement, binding contracts, interlocking directorate, and community of interests Federal Trade Commission Act (1914): (FTC created) investigates illegal practices / enforces antitrust laws European Union-- what country's are involved Czech Republic Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania Know about franchises, what the benifits are and who is the franchiser and frandchisee Collective Bargaining – Unions Joint Venture entity formed between two or more parties to undertake economic activity together. The parties agree to create a new entity by both contributing equity , and they then share in the revenues , expenses , and control of the enterprise - Dumping any kind of predatory pricing . However, the word is now generally used only in the context of international trade law, where dumping is defined as the act of a
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INTRO TO BUSINESS manufacturer in one country exporting a product to another country at a price which is either below the price it charges in its home market or is below its costs of production . - Sole Proprietorship's (S-Corp) the most COMMON form of business - Stocks--- what dividends common shareholders gets paid last in case of bankruptcy Total Market Approach: undifferentiated single marketing mix for a product directed at ENTIRE market Marketing Segmentation Approach: company focuses on a segment or group or organization within market who share characteristics. Directed at one or more segments. Marketing Research: Demographics Marketing Mix: cosmists of 4 elements: product, price, distribution, and promotion Leverage--- in reference to investing – such as debt financing Federal Reserve- how many banks, what it is: 12 districts, regulates the supply of money and banking industry by controlling bank reserve requirements, and setting the discount rate (lowering to stimulate economy, and raising to slow it.) Reserve Requirement of U.S. Banks: currently 10%, if changes it either tightens or frees up credit Stocks - par value and stock split, and margin trading Economics: the production , distribution , and consumption of goods and services . Synonym of telecommuting = FLEXIPLACE
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establishing guidelines Organizing division of labor...

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