U of U BUS 105 - Management (3 pages)

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Discussion on Management and information about upcoming class events and assignments.

Lecture number:
Lecture Note
University of Utah
Bus 105 - Foundations of Business
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BUS 1050 1nd Edition Lecture 24 Outline of Last Lecture I Management Outline of Current Lecture II Mill and Management Current Lecture Final 12 10 10 45 to 12 05 Read God Bless You Mr Rosewater Kurt Vonnegut before the 8th Areas for financial analysis Risk Skill Capital Natural Monopolies Financial Interventions Productivity Gains Maimonides Aquinas Franklin Mill SBU Strategic Business Units require high skills and education P376 L10 Natural Monopoly Capital as a barrier to entry Example of regulated monopoly Utilities P376 L29 Differences in risk to monopolistic equality L93 Equal Profits Example Bagel business Mill s theory Equality average When all four factors are not in play we can look for an average The first affect is financial interventions Mills Small gains low profits but frequent Turning over capital rapidly allows higher profits Borrowed capital financial intervention through bank bonds turnover rate Borrowing from bank ex bank Inventory 1 2 return Bank Inventory 2 2 return then borrow from bank again adds velocity Frequent borrowing average of 13x over allows for more inventory with held money These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute leveraging for a high velocity Gross overall is high Turn inventory rates to high velocities L72 Magnitude of produce Productivity Wages God Bless You Mr Rosewater management and production P381 L35 Other cause article for what laborer consumes Analyze for low cost materials Pick either high productivity low cost wages Or how productivity and high cost wages Study Mills justification of profit Analyst understanding of profit Management Three causes of financial failure of an organization Bad financial management Cash flow Under capitalization Share and or profit Costs come down with good management Should know that output is productive The management process Resources Human Financial Information Products Geographical Functions Planning Organizaing Directing Controlling Results Meeting Goals and Objectives Marketing Accounting Production Finance Human Resource Human Capital Businesses want to maintain customer satisfaction Research on hygiene factors and include motivators require training Satisfying customers allow higher return How to increase satisfaction increase motivation and training Hire and fire the right people Carnigie Capital labor resources Exert controls to know if business is doing well Researchers mathematicians statisticians Multidivisional structure example Walt Disney Company Mcgregor x and y management X y z Maslow impact on management Herzberg

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