Introduction to Management Slides PDF

Introduction to Management 1 WEIDEN BUSINESS SCHOOL Dr. Matthias Fischer Weiden i. d. Opf., 21. März 2024 1  Overview of lecture...

Introduction to Management 1 WEIDEN BUSINESS SCHOOL Dr. Matthias Fischer Weiden i. d. Opf., 21. März 2024 1  Overview of lecture 6. Functions of mgmt. Skills/roles of 1. Business 7. Financial managers Administration & management Economics 5. Company goals → 3. Why value chain productivity, 2. What is a analysis? → economic viability, company? competitive profit & profitability advantage → generic strategies… 4. External and 8. International internal analysis → Management SWOT, TOWS 2 WEIDEN BUSINESS SCHOOL Dr. Matthias Fischer Weiden i. d. Opf., 21. März 2024 2  Business Administration vs. Economics Business Administration Economics Focus on the management of Micro- and Macroeconomic individual organizations correlations 3 WEIDEN BUSINESS SCHOOL Dr. Matthias Fischer Weiden i. d. Opf., 21. März 2024 3  Business administration as a science Business administration is an interdisciplinary science Sociology Law Psychology … Business administration is a practice-oriented science Statement of real facts and situations (description) Explanation of cause-effect relationships (causalities) Recommendations for action for the company 4 WEIDEN BUSINESS SCHOOL Dr. Matthias Fischer Weiden i. d. Opf., 21. März 2024 4  Scarcity of goods as a challenge Tension Goods and Unlimited needs resources are in limited supply Forces people to act economically Based on: Thommen/Grösser 2014, p. 11f. 5 WEIDEN BUSINESS SCHOOL Dr. Matthias Fischer Weiden i. d. Opf., 21. März 2024 5  ‚Economy‘ The term economy includes all institutions and processes that are directly or indirectly involved in the satisfaction of human needs for scarce resources and goods. Source: Thommen/Grösser 2014, p. 12 6 WEIDEN BUSINESS SCHOOL Dr. Matthias Fischer Weiden i. d. Opf., 21. März 2024 6  Classification of economic goods Economic goods Tangible goods Intangible goods (material goods) (immaterial goods) Production goods Consumer goods Rights (e.g. patents) Services Non-consumable factors of production (capital Durable consumer goods goods) Consumable factors of Non-durable consumer production (materials) goods Human work Information & Knowledge Based on: Thommen/Grösser 2014, p. 7 13. WEIDEN BUSINESS SCHOOL Dr. Matthias Fischer Weiden i. d. Opf., 21. März 2024 7  Economic goods – classification criteria Type of state or appearance: tangible goods – intangible goods Purpose of use Type of use Stage in the production process: input goods – output goods Degree of processing: semi-finished products (parts, components) – finished products Type of relationship: unrelated g. – substitution g. – complementary g. 8 WEIDEN BUSINESS SCHOOL Dr. Matthias Fischer Weiden i. d. Opf., 21. März 2024 8  Economic units – households and companies Households Companies satisfy internal satisfy external demand demand Mixed- Private h. Public h. Private c. Public c. economy c. Consumption Production-oriented economies economic units 9 WEIDEN BUSINESS SCHOOL Dr. Matthias Fischer Weiden i. d. Opf., 21. März 2024 9  What is a company? A company… …creates value by …is an open system that combining production …is a social system in which continuously interacts with factors in a unique way people act as individuals or in its environment groups and have a major impact on the behavior of the company …can autonomously …must continuously determine its goals change to adapt to new within a given (legal) developments or to framework influence these …consists of many developments (dynamic individual elements system) which interact and form …focuses all its efforts on a complex system of structures and processes market requirements (market orientation). Thommen/Grösser 2014, p. 118. 10 WEIDEN BUSINESS SCHOOL Dr. Matthias Fischer Weiden i. d. Opf., 21. März 2024 10  ‚Company‘ A company can be described as an open, dynamic, complex, autonomous, market-oriented, productive social system. Source: Thommen/Grösser 2014, p. 12 11 WEIDEN BUSINESS SCHOOL Dr. Matthias Fischer Weiden i. d. Opf., 21. März 2024 11