Business Environment and Company Elements
Specific Environment of a Company
- Suppliers: Businesses need inputs for their production process.
- Customer: Recipients of goods and services provided by the company.
- Competition: (No description provided)
- Financial Institutions: The most common are banks that lend money to companies in exchange for interest.
- Government: Municipalities. To open a new facility, it is necessary to apply for a license.
- Labor Market:
- Labor Costs: They are a major source of the company’s costs.
- Qualification: This is important
Human Resource Management: Functions, Activities, and Influences
Functions and Activities in Human Resource Management
Human Resources Planning
- Determines quantitative and qualitative staffing needs based on organizational objectives and strategy.
- Indicates:
- How many employees and what type are needed.
- How to acquire them (external/internal recruiting).
- Training needs.
- Extremely important, though recently incorporated in HR management.
Job Analysis
- Essential for understanding the substance of a job and its requirements.
HR Insurance Needs of the Organization
- Recruiting
Recruitment and Job Types: Key Concepts
Exam 1
Translate and complete the spaces in blank with the correct word.
The process of finding people for particular jobs is recruitment or, especially in American English, hiring. Someone who has been recruited is a recruit or, in American English, a hire. The company employs or hires them; they join the company. A company may recruit employees directly or use outside recruiters, recruitment agencies. Outside specialists called headhunters may be called on to headhunt people for very important jobs,
Read MoreBanking Supervision and the Role of Banco de España
Banking Supervision and the Single Supervisory Mechanism
Banking supervision aims at restoring citizens’ confidence. Consequently, the Single Supervisory Mechanism (SSM) was launched, a banking supervision system and the competent supervisory authorities. Its main objectives:
- To ensure the safety and soundness of the European banking system
- To promote financial integration and stability in Europe
- To ensure supervisory consistency
This is the first step towards the “Banking Union,” of which the Single
Read MoreDisruptive Innovation and Market Strategies
1. Creating Disruptive Innovation
A disruptive innovation is an invention that significantly differentiates itself from existing products or services, creating a distinctive market presence. This can be achieved in two primary ways:
- Novelty: Like Apple, companies can introduce entirely new features and upgrades, creating a completely new product and attracting a new market segment.
- Simplification: Nokia, for example, focused on product innovation through simplification. They targeted a lower-end market
Understanding Marketing: Customer Value, Orientation, and Strategy
The Nature of Marketing
Marketing: The achievement of corporate goals through meeting and exceeding customer needs better than the competition, or the delivery of value to customers at a profit.
Three conditions must be met before the marketing concept can be applied:
- Company activities should be focused on providing customer satisfaction rather than, for example, simply producing products.
- The achievement of customer satisfaction relies on integrated effort.
- For integrated effort to come about, management