Chapter 1-3 Final Exam Study Guide

Mission and business into long and short term

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mission and business into long- and short-term performance targets to measure how well it’s doing Types of goals Profit: maximize Sales: high profits lead to increase in sales Market Share : ratio of sales revenue of the firm to the total sales revenue of all firms in the industry Quality Customer satisfaction Employee welfare: good employment opportunities and working conditions Social responsibility Organizational foundation= “why” Org direction sets “what” Organizational strategy: “how” Variation by level: corporate v functional (how detailed strategies must be) Variation by offering: offer product v service v idea CHAPTER 3 “Generational Cohorts”
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Baby boomers : the generation born between 1946-1964. Getting older. Interested in fitness, retirement housing, financial planning, and personal appearance Generation X : 15% of population born between 1965-1976. “baby bust” They are self reliant, supportive of racial and ethnic diversity, and better educated than baby boomers. First generation to have less than previous generation . Becoming dominating force in markets as baby boomers move out Generation Y : 1977-1994. “echo boom” or “baby boomlet” because baby boomers had babies .
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