Business fundamentals

OpenStax

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The business eco-system: your path to finding the pot of gold at the

The business eco-system: your path to finding the pot of gold at the

0.1 Are entrepreneurs born or made?

0.2 "the mindset of an entrepreneur"

1 The business eco-system: the business eco-system

1.1 The business eco-system

2 The sun rise of your new business accessing market opportunity: the

2.1 The sun rise of your new business Accessing market opportunity: the

2.2 When to plant your market opportunity seeds

2.3 “stop and go signs for accessing market opportunity matrix”

3 Sales: the essential rim of the wheel

3.1 Sales: the essential rim of the wheel

3.2 What will i sell?

3.3 Places for inspiration

3.4 Financing: the fundamental rim on the wheel

4 Strategy: the tactical rim on the wheel

4.1 Strategy: the tactical rim on the wheel

5 Branding will make your blossoms bloom!

5.1 Branding: the memorable rim on the wheel

5.2 Branding coaching

5.3 Looking for inspiration?

6 Stakeholders: the connective rim on the wheel

6.1 Stakeholders: the connective rim on the wheel

6.2 The stems of growing startups: definitions of “startup stakeholder arrow

7 Ethics: the authentic rim on the wheel

7.1 Ethics: the authentic rim on the wheel

7.2 Making good: elements of a values-based company culture

7.3 Going green on a shoe string

8 Operations: the logistical rim on the wheel

9 New product: the tangible rim on the wheel

9.1 New product: the tangible rim on the wheel

9.2 A new product bud is blooming: introducing the “new venture instructional

9.3 “new venture instructional manual to operational excellence”

10 Let the fruits of your labor blossom: the new product/service launch

10.1 Let the fruits of your labor blossom: the new product/service launch

10.2 “checklist for a new product launch event

11 Public relations: the sensational rim on the wheel

12 Mentor insights: the “where the rubber meets the road” spokes on the

12.1 Mentor insights: the “where the rubber meets the road” spokes on the

12.2 Jay milbrandt’s journal entries from bangladesh: not just statistics

12.3 Jay milbrandt’s journal entries from bangladesh: why i have hope

12.4 Jay milbrandt’s journal entries from bangladesh: moving the mountains

13 About this author and acknowledgements

13.1 About this author and acknowledgements:

The mind of the entrepreneur: your entrepreneurial journey begins by

1 Entrepreneur assessment survey

1.1 Entrepreneur assessment survey

1.2 Some key characteristics of an entrepreneurial mindset

2 Entrepreneurial mindset enhancing activities

2.1 Entrepreneurial mindset enhancing activities

3 Chapter summary

Business models and marketing:an overview

Learning objectives

1 What is a business model?

1.1 Examples of successful business models

1.2 Model implementation/testing pre-requisites

1.3 Real expectations outcome: benefits

2 Success factors

2.1 Conclusions

3 Consumer marketing models

3.1 The product model vs the marketing model

4 The marketing model

5 Identifying market needs

5.1 Maslow’s hierarchy of needs

5.2 Identifying customer’s wants successfully

6 Business to business marketing models

6.1 Models of industry attractiveness; the strategic perspective

6.2 Other strategic models

6.3 The bcg matrix

6.4 The mckinsey matrix

6.5 Downes’ three new forces

7 Chapter summary

8 Market research to determine the potential market for funeral services

9 Discussion questions

How to organize and lead an entrepreneurial venture

Learning objectives

1.1 Moving from a one-person band to an orchestra

2 Organizational issues

2.1 Organizational issues

3 Organizational stages of growth

3.1 Departmentation

3.2 Departmentation by function

3.3 Departmentation by products

3.4 Departmentation by projects

3.5 Departmentation by matrix

4 Flat versus tall organizations

4.1 Flat organizations

4.2 Tall organizations

5 Centralized versus decentralized organizations

5.1 Centralized

5.2 Decentralized

6 Chapter summary

6.1 Us legal issues

7 Discussion questions

Selecting and managing your team

Learning objectives

1 Competitive advantage through human resource management

2 Providing employee voice and influence

2.1 Managing differences in organizations

3 Recruiting workers

3.1 Methods of recruitment

4 Evaluating recruiting policies

4.1 Selective hiring

4.3 Behavioral interview

4.4 Situational interview

4.5 Selection tests

4.6 Background checks

5 Employee training

5.1 Benefits of training

5.2 Need for training

5.3 Training methods

5.4 Training in the context of global business

6 Aligning employee career development with organizational growth

7 Performance appraisal

7.1 Purpose of appraisals

7.2 Creating an appropriate appraisal process

7.3 Appraisal methods

7.4 Performing the appraisal

7.5 Giving and receiving feedback

7.6 Giving feedback

7.7 Receiving feedback

8 Determining base pay

8.1 Internal equity

8.2 External equity

8.3 Combining internal and external equity

8.4 Benefits and non-monetary compensation

8.5 The benefit of benefits

8.6 Detriments of benefits

8.7 Pay for performance

8.8 Compensation techniques

8.9 Components of pay for performance

8.10 Pay secrecy

8.11 Good outcomes of paying for performance

8.12 Folly of reward systems in different organizations

8.13 Cautions for introducing a pay system

9 Meaningful job design

9.1 Elements to job design

9.2 Brief history of traditional approaches to job design

9.3 Current approaches to job design

9.4 Steps to effective job design

9.5 How meaningful job design can impact an organization

10.1 Downsizing

10.2 Hr metrics

11 Discussion questions

Marketing on a global scale

Learning objectives

1 Defining marketing

2 The role of marketing in the firm: a basis for classification

2.1 Macromarketing versus micromarketing

2.2 Service marketing versus goods marketing

2.3 For-profit marketing versus nonprofit marketing

2.4 Mass marketing, direct marketing, and internet marketing

2.5 Local, regional, national, international, and global marketers

2.6 Consumer goods marketing and business-to-business (industrial) marketing

3 Defining international marketing

3.1 Standardization and customization

3.2 Reasons for entering international markets

3.3 Reasons to avoid international markets

3.4 The stages of going international

3.7 Joint ventures

3.8 Direct investment

3.9 Us commercial centers

3.10 Trade intermediaries

4 The international marketing plan

4.1 The corporate level

4.2 The business level

4.3 Marketing objectives

4.4 The functional level

4.5 Product/promotion

4.7 Distribution and logistics

4.9 Evaluating results

5 The international marketing environment

5.7 Business norms

5.8 Religious beliefs

5.9 The political/legal environment

5.10 Political stability

5.11 Monetary circumstances

5.12 Trading blocs and agreements

5.14 Expropriation

5.15 The technological environment

5.16 The economic environment

5.17 The competitive environment

6 Discussion question

Operations management

Learning objectives

1 What is operations management?

1.1 One of three strategic functions

1.2 Strategic versus tactical operations decisions

1.3 Operations management provides competitive advantage!

2 The input/output transformation model

3 Operations decisions

3.1 Inventory decisions

3.2 Capacity decisions

3.3 Quality decisions

3.4 Scheduling decisions

3.5 Process decisions

3.6 Technology decisions

3.7 Location decisions

4 Chapter summary

5 Special topic: total quality management

5.1 Quality costs

5.2 Tqm’s seven basic elements

5.3 Quality awards and standards

6 Special topic: supply chain management

6.1 Bullwhip effect

6.2 Causes of the bullwhip effect

6.3 Counteracting the bullwhip effect

6.4 Other factors affecting supply chain management

6.5 Supplier selection

7 Special topic: just-in-time and lean systems

7.1 Jit manufacturing principles

7.2 Inventory reduction to expose waste

7.3 Demand-pull production system

7.4 Quick setups to reduce lot sizes

7.5 Uniform plant loading

7.6 Flexible resources

7.7 Line/cellular flow layouts

7.8 Total quality management

7.9 Employee empowerment

7.10 Conclusion: the evolution of jit into “lean operations”

Securing and managing external relationships

Learning objectives

1 Introduction to external relationships

1.1 Trends in management

1.2 Trust: the foundation for a successful relationship

2 Marketing exchanges and partnerships

2.1 Two basic relationship types

2.2 Functional relationship

2.3 Partnerships

2.4 Relational partnership

2.5 Strategic partnership

3 Choosing the right relationship

3.1 Foundations of successful relationships

3.2 Phases of relationship development

3.3 Skills for building positive relationships

4 Strategies for external relationships

4.1 Outsourcing

4.2 Potential external relationship obstacles

5 Chapter summary

Financial and managerial accounting; financing your organization

Learning objectives

2 Why an accounting system is important

3 Basic types of accounts

4 Chart of accounts

5 Basic financial statements

6 A short history of accounting and double-entry bookkeeping

8 Advanced reports and analyses

8.1 Cash flow forecasts

8.2 Working capital analyses

8.3 Break-even analysis

8.4 Profitability analyses (e.g. by customer, product, region)

9.4 Sources of financing for your organization

10 Chapter summary

11 Discussion questions

Leveraging with information technology

Learning objectives

2 Is tools for the start-up organization

2.1 The technology sub-system

2.2 The process sub-system

2.5 Relationships between the four components

2.6 Some practical advice for start-ups

3 Moving forward with information systems

3.1 Acquiring a suite of commonly-used programs

3.2 When to think about using database management software

3.3 Creating a web presence

4 Know what your customers want

4.1 Give your customer a positive experience

4.2 Know the basics

4.3 Emarket your website

5 Using information technology competitively

5.1 Competitive advantage

5.2 Porter and competitive advantage

5.3 Identify your information systems needs

5.4 Have the is department set priorities

5.5 Have a cross-functional steering committee set priorities

5.6 Develop a formal plan for information systems

6 What is is risk management

6.1 Project management risks

6.2 Security risks

6.3 Internet risks

6.4 Summary of is risk management

7 Chapter summary

8 Discussion questions

Competitive intelligence

Learning objectives

2.1 Why you have competitors (or how buyers have managed to survive without

3 Importance and goals of competitive intelligence

3.1 Detecting competitive threats

3.2 Eliminating or lessening surprises

3.3 Enhancing competitive advantages by lessening reaction time

3.4 Finding new opportunities

4 Information collection methods

4.2 Human intelligence

4.3 Fee based companies

4.4 Public documents

5 The industry environment

5.1 What is an industry?

5.2 Industry structural characteristics

5.3 Concept of strategic groups

5.4 Key success factors in an industry

6 Porter's 5 forces and the analysis of competitors

6.1 Bargaining power of buyers

6.2 Bargaining power of suppliers

6.3 Threat of new entrants

6.4 Threat of substitute products

6.5 The intensity of competitive rivalry

7 Methods of evaluating competitors

7.1 Identifying competitors and their relative advantage

8 Chapter summary

Business ethics in a nutshell

0.1 Personal ethics: four ethical approaches

1 Management: the meta profession

1.1 The paradox of skill

1.2 The paradox of the public pledge

1.3 The paradox of pay

2 Corporate social responsibility

Adding products and services

Learning objectives

2 Where does innovation come from?

2.1 Product categories

3 Innovation through business models

3.1 Examples of business models from the music industry

3.2 Traditional business model

3.3 Digital music stores

3.4 Open content

3.5 Artist-centered website hub

3.6 Artist’s personal website

3.7 Non-traditional “record labels”

3.8 Tax-the-device model

3.9 Summary of new business models

4 Evaluating new products

5 When innovation fails: deleting products

5.1 Product failure

5.2 Case, example of product failure: wal-mart in germany, 1997 to 2006

6 Chapter summary

7 Discussion questions

8 Case: “apples: newton and pippin”

International business for the entrepreneur

1 Globalization: opportunities and threats to developing country business

1.1 Globalization: opportunities and threats to developing country business

1.2 What is globalization?

1.3 Case: united states domestic automaker, ford

1.4 Elements of economic globalization

1.5 Negative effects of globalization for developing country business

1.6 Positive effects of globalization for developing country business

1.7 Globalization and the small business entrepreneur

2 Harnessing technology for global business success

2.1 Types of technology

2.2 Technology for the business entrepreneur

3 Doing business across cultures

3.1 Doing business across cultures

3.2 Host country research and cultural implications

3.3 Cross-culture training

3.4 Cultural classification

3.5 Hofstede’s five dimensions of national culture

3.6 Hofstede’s 5 cultural dimensions

3.7 Ethical considerations

4 Political and legal risk in international business

4.1 What is political risk?

4.2 How to evaluate your level of political risk

4.3 Forms of investment and risk

4.4 Protection from political risk

4.5 Government policy changes and trade relations

4.6 China establishes a new employment contract law for 2008 (www.aon.com)

4.7 Introduction

4.8 Increased legal liability

5 Global marketing: assessing potential markets overseas

5.1 What is legal risk?

5.2 Political and legal risk for the small business entrepreneur

5.3 Global marketing: assessing potential markets overseas

5.4 Case: toyota has a vehicle for every market

5.5 What is global marketing?

5.6 The 4 p’s of the marketing mix (netmba, 2008)

5.7 Importance of culture on markets

5.8 Global branding—creation of a marketing strategy

5.9 Global marketing and the small business entrepreneur

6 Global finance: initial considerations

6.1 Global finance: initial considerations

6.2 International currency market

6.3 Foreign exchange market

6.4 Introduction to currency risk

6.5 Introduction to derivatives

6.6 International accounting standards board

6.7 Global finance and the small business entrepreneur

7 Organizational structure and human resource management

7.1 Organizational structure and human resources management

7.2 International division

7.3 Global functional structure

7.4 Product structure

7.5 Area/geographic structure:

7.6 Matrix structure:

7.7 Beyond the matrix:

7.8 Staffing choices in a globally far-flung company

7.9 Trends and challenges in a global hr environment

8 Corporate social responsibility and sustainable development in the global

8.2 Csr and corporate strategy

9 Case: built to last by jim collins

9.1 Successful implementation of csr and sustainable development

9.2 Csr, sustainable development, and the future of businesses

9.3 Csr and the small business entrepreneur

10 Chapter summary

Growth strategies for start-ups

Learning objectives and overview

0.1 Learning objectives

1 Definition and models

1.1 Definition and statistics

1.2 Growth models

1.3 Growth through buying out other companies

1.4 Growth through cooperation

1.5 Stopping growth by selling the firm

1.6 Growth through innovation

2 Growth problems

2.1 Management mistakes

2.2 Incompatibility of growth strategies and organizational structure

2.3 Inadequate or incorrect marketing, cooperation, finance, or hr strategies

2.4 Inadequate or incorrect internal accounting

2.5 Dependence on third parties

2.6 Acculturation problems when buying companies

3 Chapter summary

4 References, and further literature

4.1 About the chapter author

4.2 About the chapter editor

Source: OpenStax, Business fundamentals. OpenStax CNX. Oct 08, 2010 Download for free at http://cnx.org/content/col11227/1.4

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