Notes, abstracts, papers, exams and problems of Economy

Defining Competitive Territory and Boundaries in Mission Statements

• **Industry:** Companies may operate in one or multiple industries, including industrial goods, consumer goods, or services.
• **Products and Applications:** Firms define the range of products and applications they will offer.
• **Competence:** Companies identify their core competencies and leverage them.
• **Market Segment:** The type of market or customers a company targets.
• **Vertical:** The number of channel levels in which a company participates, from raw materials to distribution.
• **Geographical:** The regions, countries, or country groups in which a company operates.

Establishing Strategic Business Units (SBUs)

Companies can define themselves in terms of products or customer-satisfying... Continue reading "Defining Business Scope and Strategic Units" »

The Nature of Corporate Entrepreneurship

Why do we need Corporate Entrepreneurship?

Businesses are faced with:

• Changing dynamic markets
• Globalization
• Shorter product life cycles
• High rates of technological change
• Pressures to reduce costs
• Changes in business organization

A possible response

Some large firms responded to the changing environment by addressing their necessary response to working with a dynamic environment involving attitudes to:

1. Risk
2. Innovation
3. Flexible, rapid response
4. Organizational and managerial changes

Corporate Entrepreneurship (Intrapreneurship)

Corporate Entrepreneurship (i.e. Intrapreneurship) is defined as the “process by which teams within an established company conceive, foster, launch and manage a new business that is distinct... Continue reading "Corporate Entrepreneurship: Benefits, Strategies, and Environment" »

Integrated Marketing

Integrated marketing involves creating and executing marketing activities and programs that work together to deliver value to consumers. This includes ensuring consistency across communications, products and services, and channels.

An effective integrated marketing strategy requires choosing communication options that complement each other and developing a cohesive channel strategy.

Internal Marketing

Internal marketing focuses on hiring, training, and motivating employees to provide excellent customer service. It emphasizes the importance of a company-wide understanding and support for marketing efforts.

To achieve success, internal marketing requires vertical alignment with senior management and horizontal alignment with other... Continue reading "Understanding Marketing Concepts and Strategies" »

The foreign trade balance. The current imbalances in international trade

China leads the last 20 years growing at an average rate of 10 percent annually and has hardly been affected by the great recession plaguing the world since 2007. It is therefore the main character and now we need the argument, which is none other than economic globalization. China has become the economy grows faster and is helping to further the transformation of economic structures with the opening of goods and capital markets and globalization. China saves 52 percent of the income it generates, while in the U.S. and saving for many years has been 0 percent. The success of China, is to become the world's factory, where export-oriented model. China's success places significant... Continue reading "The Impact of China's Trade Surplus on Global Economy" »

Ikea

Strategy: Actions managers take to attain firm’s goals. Strategies focus on profitability (rate of return on invested capital) and profit growth (% increase in net profits over time). How to Increase Firm’s Profitability: Value must be created by consumer. Value creation measured by difference between price charged and cost of production. 2 strategies: Differentiation and low cost. Strategic Positioning: To maximize profitability firm must be efficient, configure internal operations, have the right organization structure (all must be consistent). Value Creation Activities: 1 Primary activities (creating, marketing and delivering product to buyers and providing support after-sale). 2 Support Activities (provides inputs that allow primary... Continue reading "Ikea Strategy: Global Expansion and Profitability" »

CRM

CRM is an integrated information system that is used to plan, schedule and control the pre-sales and post-sales activities in an organization. CRM embraces all aspects of dealing with prospects and customers, including the call center sales-force, marketing, technical support and field service. The primary goal of CRM is to improve long-term growth and profitability through a better understanding of customer behavior. -CRM aims to provide more effective feedback and improved integration to better gauge the return on investment (ROI) in these areas.

CRM: Support, sales, service, orders, analysis, mkt, strategy.

Strategic CRM is focused upon the development of a customer-centric business culture. –This culture is dedicated to winning and keeping... Continue reading "Understanding CRM: Strategies, Models, and Relationships" »

Advertising

: publicidad

Brand

: marca: a commercial name

Budget

: Presupuesto: an amount of money to be used

Company profile

: perfil d la empresa

Competitors

: competidores: company selling similar products to you

Consumer goods

: bb d consume: a product for normal life

Customers

: clients

Employ

: dar trabajo: to give job

Employees

: empleados: people who work for a company

Expand

: xpandir: to become bigger

Figures

: cifras: a company total annual sales

File

: archivo: to organize papers and documents so they are easy to find

Financial advise

: asesoramnto financero

Found

: fundar: to create

Head office

: sede

Household white goods

: electrodmstics electrodomestical appliances used at home such at a fridge (nevera)

Improve

: Mejorar: to make something better

Launch

: lanzar... Continue reading "Business Vocabulary and Definitions" »