Essential Management Concepts: Functions, Motivation, and Operations
Functions of Management
Management involves four core functions (Planning, Organizing, Leading, and Controlling) necessary to achieve organizational goals.
Planning
Setting performance objectives and deciding how to achieve them.
- Advantages: Clarifies objectives and resource needs; serves as the first step in goal attainment.
- Implementation: Developing short-term, long-term, and operational plans.
Controlling
Measuring performance and taking action to ensure desired results.
- Advantages: Facilitates performance
Fundamental Principles of Marketing: Strategy and Management
Key Features of Modern Marketing
The definitions above highlight the following features:
- Business Process: Marketing is a continuous business process undertaken to earn profit from the buying and selling of goods and services.
- Customer-Driven: In this process, goods and services are provided according to customer demand.
- Comprehensive Scope: The process is not merely related to buying and selling. It includes all activities required to deliver goods from producers to the end customer.
- Satisfaction-Oriented:
Glovo’s Rise: Business Model, SWOT, and Future Strategy
Glovo: A Spanish Startup’s On-Demand Revolution
Imagine you’re at home, craving your favorite meal, needing groceries, or perhaps a last-minute gift. What if you could have it all delivered to your doorstep in under an hour? That’s the convenience Glovo offers. It’s not just a food delivery app but a comprehensive on-demand lifestyle platform.
This analysis covers how Glovo operates, the problems it addresses, its business model, and the challenges and opportunities it faces.
The Market Gap in Urban
Read MoreIntegrating Ethics and Sustainability in Modern Business Strategy
Class 29: Patagonia’s Values-Driven Strategy
1. Patagonia’s Ownership Structure and Strategic Influence
In 2022, Patagonia restructured its ownership to ensure the company’s mission-driven strategy would outlive its founder:
- 100% of voting stock was transferred to the Patagonia Purpose Trust:
- Holds 2% of total stock, but all decision-making power.
- Controlled by the Chouinard family and close advisors.
- Ensures the company stays true to its environmental mission.
- 100% of nonvoting
Operations Management Performance Measurement and Analytics
Measuring Performance in Operations Management (MGMT270)
This topic covers key concepts in measuring performance within operations management (OM).
Learning Objectives
- Describe the types of measures used for decision making. (LO 3-1)
- Explain the use of analytics in OM and how internal and external measures are related. (LO 3-2)
- Explain how to design a good performance measurement system. (LO 3-3)
- Describe four models of organizational performance. (LO 3-4)
LO 3-1: Types of Measures for Decision Making
Measurement
Read MoreThe Dynamics of Global Economic Interdependence
Key Aspects of Economic Interdependence
Trade Interdependence
Countries engage in the exchange of goods and services through international trade. They rely on imports to meet their domestic demand and on exports to sell their surplus production to generate income. Trade interdependence is facilitated by bilateral and multilateral agreements, such as free trade agreements or customs unions.
Supply Chain Interdependence
Global supply chains have become highly interconnected, with different countries specializing
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