Summary: Individuals And Collectives

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• 1 Business

• 1.1 Part 1

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• Difference negative and positive externality

  Negative: cost, you supply too much 
  Positive: gift/benefit, you produce too little as a supplier

• Why is dressing externalities so hard?

  1. Many processes come with positive and negative externalities
  2. The problems caused don't stop at the border

• A cap and trade market

  Is a market based approach to controlling pollution that allows corporations to trade emissions allowances under an overall cap

• What are the 6 parts of an organization according to Mintzberg?

  1. Strategic apex (senior management)
  2. Middle line (links strategic apex to operating core)
  3. Operating core (handles operational processes)
  4. Technostructure (includes analysists of various sorts)
  5. Support staff (supports and offers services to the company)
  6. Ideology (norms and values of company)

• Organizational life cycle (OLC)

  A model that proposes that businesses, over time, progress through a fairly predicted predictable sequence of development stages. It is linked to the study of organizational growth and development

• What are the stages in a product/company lifecycle?

  Start up, growth, enterprise, decline

• Which stakeholders are most relevant in different stages of the life cycle?

  Start up: financers and consumers 
  growth: consumers and employees 
  maturity: stakeholders
  decline: financers and consumers

• Structure conduct performance (SCP)

  A model used to trace causes of industry performance. The benefit is that you do not need anything from the organization. You need info about the market

• At what looks a market focused company?

  Looks outside the company for input and data necessary to make strategic decisions

• Five distinct competitive strategies to stand out:

  1. A low cost provider strategy
  2. A broad difference strategy
  3. A best cost provider strategy
  4. A focused strategy based on lower costs
  5. A focused strategy based on differentiation