ABWL: Introduction to Business

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Questions and Answers

Explain the difference between a 'Betrieb' and an 'Unternehmen' in the context of business administration.

A 'Betrieb' is any production-oriented entity satisfying external needs, while an 'Unternehmen' is a 'Betrieb' that is primarily privately owned, autonomous, and operates on a for-profit basis.

Name four key characteristics used to classify companies.

Size, life cycle phase, profit orientation, and type of goods produced are four characteristics.

Explain how the size of a company is determined according to § 267 HGB.

Company size depends on if two of the three criteria are met or exceeded: the number of employees, the balance sheet total, and the revenue.

Briefly describe the different phases in a company’s life cycle.

<p>The phases are start-up (Gründungsphase), growth (Umsatzphase), and decline (Auflösungsphase).</p> Signup and view all the answers

What is the primary difference between profit-oriented and non-profit organizations?

<p>Profit-oriented organizations aim to maximize profits for owners/shareholders, while non-profit organizations focus on fulfilling a social mission.</p> Signup and view all the answers

Name the four categories used to classify enterprises according to their production type.

<p>Winning companies (Gewinnungsbetriebe), processing companies (Aufbereitungsbetriebe), manufacturing companies (Verarbeitungsbetriebe), service companies (Dienstleistungsunternehmen).</p> Signup and view all the answers

What are the key differences between Sachleistungs- and Dienstleistungsunternehmen?

<p>Sachleistungsunternehmen produce tangible goods, while Dienstleistungsunternehmen provide intangible services.</p> Signup and view all the answers

What is the 'Shareholder Value' approach, and how does it guide corporate decision-making?

<p>It focuses on maximizing wealth for shareholders through long-term profit maximization, often guided by contracts and legal frameworks.</p> Signup and view all the answers

What are 'Stakeholders', and why is it important for companies to consider them?

<p>Stakeholders are individuals or groups affected by or can affect a company's activities. A company should consider them in order to achieve long-term sustainability.</p> Signup and view all the answers

Briefly explain what CSR is, and how does it relate to a company's goals?

<p>CSR stands for Corporate Social Responsibility which integrates social and ecological goals into business operations.</p> Signup and view all the answers

List and briefly describe the three aspects included in Corporate Social Responsibility (CSR).

<p>Environmental (impact on the planet), Social (impact on people), and Governance (how the company is run).</p> Signup and view all the answers

What does 'Wirtschaften' mean in the context of business administration?

<p>The planned use of scarce resources to satisfy needs in the most effective way.</p> Signup and view all the answers

Describe the role of Bedürfnisse (needs) in economic activity.

<p>Needs are the foundation of economic activity, driving demand for goods and services.</p> Signup and view all the answers

Explain the role of Güter (goods) in satisfying needs.

<p>Goods are resources used to satisfy needs and wants.</p> Signup and view all the answers

What is the 'Ökonomisches Prinzip' (economic principle), and outline its main goal?

<p>The 'Ökonomisches Prinzip' is about using scarce resources efficiently to maximize satisfaction or output.</p> Signup and view all the answers

Describe the Maximumprinzip of the economic principle.

<p>The Maximumprinzip aims to maximize output (Ertrag) with a fixed amount of input (Aufwand).</p> Signup and view all the answers

What is the key difference between 'Effektivität' and 'Effizienz'?

<p>Effektivität is about achieving a goal, while Effizienz is about achieving it with minimal waste of resources.</p> Signup and view all the answers

Provide an example to illustrate the difference between effectiveness and efficiency.

<p>Effectiveness is like successfully holding a dinner party, while efficiency is holding it with the lowest possible cost and effort.</p> Signup and view all the answers

According to the Wissenschaftslandkarte, what is the 'Erkenntnisobjekt' of Business Administration (BWL)?

<p>According to the Wissenschaftslandkarte, the object of knowledge of business administration is the 'Betrieb'.</p> Signup and view all the answers

Describe the primary goal of BWL as a science.

<p>BWL aims to describe, explain, and shape economic phenomena and processes within organizations.</p> Signup and view all the answers

How do Geisteswissenschaften and Naturwissenschaften differ in their approach to studying the world?

<p>Geisteswissenschaften study human culture and constructs, while Naturwissenschaften study the natural world through empirical observation and experimentation.</p> Signup and view all the answers

What type of questions does BWL aim to answer in a business context?

<p>BWL answers how to improve processes, how to innovate, how to motivate and improve the business.</p> Signup and view all the answers

What are the categories defined in the Bedürfnispyramide?

<p>Elementare Bedürfnisse, Sicherheit, Zugehörigkeit, Anerkennung, Selbstverwirklichung.</p> Signup and view all the answers

What are Konsumgüter?

<p>Goods to be consumed.</p> Signup and view all the answers

What are Investitionsgüter?

<p>Goods used to produce other goods.</p> Signup and view all the answers

What are Realgüter?

<p>Tangible, physical goods.</p> Signup and view all the answers

What are Verbrauchsgüter?

<p>Goods that are consumed, for example, raw materials.</p> Signup and view all the answers

Distinguish between materielle and immaterielle Güter.

<p>Materielle Güter are tangible, and immaterielle Güter are intangible.</p> Signup and view all the answers

What is the end goal of the Wissenschaft?

<p>To use the scientific method to discover Wissen.</p> Signup and view all the answers

Flashcards

Was sind Betriebe?

Wirtschaftssubjekte, die fremde Bedarfe decken

Was sind Unternehmen?

Mehrheitlich privates Eigentum, autonom und erwerbswirtschaftliches Prinzip

Merkmale von Unternehmen

Umsatz, Bilanzsumme, Anzahl der Mitarbeiter

Lebensphasen von Unternehmen

Gründungs-, Umsatz- und Auflösungsphase

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Gewinnorientierung

Profit- und Non-Profit-Organisationen

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Sachleistungsunternehmen

Gewinnungs-, Aufbereitungs- und Verarbeitungsbetriebe

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Interessen von Stakeholdern?

Aktionäre, Banken, Mitarbeiter, Kunden/Lieferanten, Staat, Gesellschaft

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Was ist Shareholder Value?

Langfristige Gewinnmaximierung

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Ziele der Nachhaltigkeit

Soziale, ökologische und ökonomische Ziele

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Was bedeutet Wirtschaften?

Knappe Güter geplant so einzusetzen, dass die Bedürfnisbefriedigung möglichst vorteilhaft erfolgt.

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Maslow'sche Bedürfnispyramide

Bedürfnisse lassen sich in fünf Stufen einteilen.

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Güterarten

Materielle und immaterielle

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Nutzungsdauer von Gütern

Verbrauchs- und Gebrauchs, Investitions- und Konsumgüter

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Ökonomisches Prinzip

Knappe Mittel nicht verschwenden

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Ausprägungen des ökonomischen Prinzips

Maximum-, Minimum- und Optimumprinzip

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Effektivität

Es soll ein Ziel erreicht werden

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Effizienz

Ziel wird mit geringstmöglichem Aufwand erreicht

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Was ist Wissenschaft?

Die forschende Tätigkeit in einem bestimmten Bereich, Wissen hervorzubringen

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Nichtmetaphysische Wissenschaften

Überprüfbare Sachverhalte

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Metaphysische Wissenschaften

Philosophie, Theologie

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Was ist BWL?

Die BWL ist eine Geisteswissenschaft

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Ziele der BWL als Wissenschaft

Beschreiben, Erklären, Gestalten

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Study Notes

ABWL Themenblock 1: Einführung

  • The lecture outlines the functional model, which includes an introduction to key decisions, business functions, and support functions
  • ABWL deals with facts and problems that are the same for companies in all industries

Introduction

  • What is meant by "companies"
  • What is meant by "managing"
  • What is meant by "teaching"

Betrieb vs. Unternehmen

  • Economic entities include households, which cover their own needs
  • Economic entities include firms, which cover external needs
  • Companies are firms that are mostly privately owned, autonomous, and usually operate according to the profit-making principle

Characteristics of companies

  • Size, life phase, profit orientation, type of product and production stage and statistical data are characteristics of companies

Differentiating by size

  • The size of a company is assessed by balance sheet total, revenue, and number of employees
  • Small companies must not exceed at least two of the three of the following: €6M balance sheet, €12M revenue, 50 employees
  • Medium sized companies must not exceed at least two of the three of the following: €20M balance sheet, €40M revenue, 250 employees
  • Large companies always exceed at least two of the three of the following: €20M+ balance sheet, €40M revenue, 250+ employees

Differentiation by stage of life

  • Companies can be categorized by founding phase, revenue phase, and dissolution phase

Differentiation by profit orientation

  • Companies can be categorized by whether they are profit or non-profit organizations

Differentiation by type of products and production stage

  • Companies are categorized by the type of goods, including primary products and intermediate or end products and services. Products can be classified and related to industries

Company goals

  • The goals of companies should fulfill all its shareholders, banks, employees, customers/suppliers, state, and society

Shareholder Value

  • This assumes that the ultimate risk lies with shareholders
  • Long-term profit maximization is aimed at, regulating relationships with others through contracts or laws

Stakeholder Value

  • Stakeholders include: competitors, the State, society, owners, managers, employees, capital providers and customers

Company Sustainability

  • Environmental, Social, and Governance (ESG) factors are considered. This includes the EU Green Deal and sustainability accounting

Definition of "Wirtschaften" (Managing/Economics)

  • Economics involves the planned use of scarce goods to satisfy needs as advantageously as possible.

2.1 Needs

  • Maslow's hierarchy of needs includes self-actualization, recognition, belonging, security, and elementary needs
  • Firms need to consider each level when catering to consumers

2.2 Goods

  • Goods are differentiated based on tangibility materials and immaterial goods
  • Real and nominal goods
  • Input and output goods
  • Consumable and consumer goods
  • Investment and consumer goods

Satisfaction of Needs

  • Markets involve customers, businesses, and competitors, with value/price determined by these entities and their associated costs.

2.3 Economic principle

  • According to the economic principle, scarce resources must not be wasted
  • The maximum principle aims to maximize output/revenue with a fixed input
  • The minimum principle aims to minimize input/cost for a fixed output
  • The optimum principle aims to find the most favourable ratio between output and input

2.4 Effectiveness vs. Efficiency

  • Effectiveness means achieving a goal
  • Efficiency means achieving a goal with the best possible use of resources

Science Classifications

  • Science involves the pursuit of knowledge through research in a specific field
  • Non-metaphysical sciences examine verifiable facts, while metaphysical, abstract sciences include philosophy and theology
  • Empirical, real sciences deal with tangible things, distinguished from theoretical, ideal sciences like mathematics
  • Humanities study law, art, VWL, and BWL, while natural sciences cover chemistry, physics, and biology

BWL as a Science

  • BWL's subject of study is corporations
  • It aims to describe, explain, and shape economic phenomena while considering all stakeholders

Corporate research goals

  • Corporate research goals: description, explanation, and design
  • Focus is on observations, concept formation, and classifications
  • Identifies causal relationships and enables predictions
  • Derives recommendations for actions for all relevant parties

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