Intro to BUS Final

creating valueelationships in order to get value back

promotes cause/social image as well as product

culture, socioeconomic status, reference groups, situational factors, self-image

promotes location

ability of a product to satisfy

form, time, place, possession

product, selling, consumer-focused

we make it, customers figure out what's best

we target customers

customer relationship/loyalty, adaptable service

involving customer, data-driven decisions, ethics/etiquette

how impulses overrule logical decision-making

customer's beliefs don't match behaviors, buyer's remorse

situation, opportunities/objectives, segmentation, target markets, positioning, 4 Ps

grouping of customers, demographics, psychographics, geography, behavior

undifferentiated/mass marketing, differentiated, concentrated, individualized/micromarketing

ignores differences, uniform strategy

unique strategies for each segment

only 1 target segment

unique strategy for single customer

product, place, price, promotion

informing, persuading, reminding

staff audit, senior audit (revises too), staff tax

controller, budget/credit analyst, internal auditor, management (reports, planning, reacting)

cost, tax, financial, managerial, forensic

cooporations, agencies, nonprofits

firms

profit and loss, income statement

net income

current ratio, quick/acid test ratio, working capital

CA/CL

(CA - inventory)/CL

CA-CL

tonya suarez, financial controller for Simmons

meetings, spreadsheets, transitioning software, main contact for auditors

JBU, started at ENRON during its audit, remote work for Simmons in Uruguay, Sabre, JBU, Simmons

develop work-life balance now

Alexa McGriff, head of brand strategy at Chemistry

creative briefs, campaign strategy, brand partnership

JBU, Ozark Natural Foods, recruited by Huge agency for Walmart, Moxie agency, MBA, Chemistry

be open to exploring, identify lines you'll never cross

Milly Thornton, associate merchantuyer for Walmart

customer focus groups, selects items in office dept., negotiates prices, syllabus of deadlines, experiements w fake walmart

didn't wanna do business like parents, clorox internship, management cuz she had bad leaders, Walmart

go through open doors, invest in bad leaders, don't need to hate job

interpersonal, information al, decisional

monitor, disseminator, spokesperson

entrepreneur, disturbance handler, resource allocator, negotiator

defining mission/vision/values, performing SWOT analysis, developing forecasts, analyzing competition, establishing goals/objectives, developing action plans

pyramid (CEO, CTO --> controller, director --> supervisor)

cognitive intelligence, emotional intelligence, social intelligence

autocratic, democratic/participative, laissez-faire

keeping on track towards goal, ciris management, control cycle

establish performance standards, measure, compare, respond

figurehead, leader, liason, networker

jobs, needs of larger organizations, money into economy, unique risks, specialized goods/services

lifestyle business, want to be their own boss

drive, passion, confidence

banks, microlenders, angel investors, venture capitalists, credit cards, small business administration assistance

selective investors that sell ownership later

local venture capitalists

risky, debt falls on you

offer to pay most of loan if you fail

theory of comparative advantage (specialization), expanded market, economies of sale (bulk savings), acquiring cheaper materials, keeping up with competition

balance of trade, balance of payments

exports - imports

total flow in - total flow out

no restrictions, more "fair," can lead to unethical choices

tariffs, protectionism, quotas, embargoes, restrictive import standards, export subsidies, import subsidies, antidumping measures, sanctions

policies shield industries from foreign competition, isolates markets

taxes on imports

limits on imports allowed

complete ban on trade with someone

politically-motivated bans on trade

govt. helps exporter

govt. pays producer to lower prices, basically govt. buying on behalf of citizens

world trade organization, international monetary fund, world bank

progress in 3rd world countries, reduce trade barriers, predictable policy

educate/advise countries, short-term loans

eradicate extreme poverty

NAFTA, EU, APEC, TPP

free trade, accessible markets

largest, created euro, set world standards

asia pacific economic cooperation

trans-pacific parternship, unify US to everyone else, nascent

balance short term w long term, potential risks w rewards, and debt w flexibility

financial plan, allocate funds, monitor cash flow, investor relations

funds from borrowing, don't give up control, must pay interest

credit cards, secured loans, unsecured loans, commercial paper, factoring, long term loans, leases, corporate bonds

sells acc rec for percentage, they collect payment for you

renting smt for fixed time

company borrows from individuals

selling ownership/control, more accountability, cheaper, riskier

length of term and cost of capital

get underwriter (investment bank) and legal experts, submit prospectus to SEC to register, sell through road show (initial private promotion) and open sales

James Smith, co-founder and co-owner of James & James Furniture

videoed weddings, tried a couple agencies, built coffee table in garage and sold it online, self-taught craftsman/welder, started JJ, failed as CEO, handed it off

product development, demo shop, tweaks prototypes

live below (not at) limits, don't assume different is unsuccessful, experiments are for learning (not passing)

Matt Brooker, global director of business development at Forever Oceans

admin/marketing, internship, global seafood experiences, Forever Oceans

meetings/calls at weird times, strategize managing potential problems

Calvin Huff, senior analyst at Field agent

photography, support family through business, Field Agent

internal analytics, learning new things all the time, hand in everything, helps pick right questions to research

be curious and open to new possibilities, be willing to try

Walker Martin, data analyst for Mosaic/Google Pixel

Baylor, taught there, went into research, Google

email, meetings, project management, explaining math

find out if you hate research fast, take advantage of soft skill development in college