MSOM 306 Final: MBUS306 final exam study guide
17 Dec 2016
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Labor productivity = units produced / labor-hours used. Multi-factor productivity = output / labor + material + energy + capital + misc. See problem 1. 5 and 1. 6 in the textbook. Reduce cost (labor, taxes, tariffs, etc. ) (i. e. red lobster, olive garden) Foreign locations with lower wage rates can lower direct and indirect costs. Improve operations: understand differences between how business is handled in other countries. Understand markets: interacting with foreign customers, suppliers, competition can lead to new opportunities. Improve products: remain open to free flow of ideas. Better growth opportunities and insulation against unemployment. Relocate unneeded personnel to more prosperous locations. I. e. music, food, clothes, dress, games, race, gender. Behavioral- how we define our social roles, language we speak, nonverbal communication. I. e. family structure, gender roles, sexual orientation, political affiliation. I. e. value systems, customs, religion, spirituality, religion, faith, beliefs, worldview, social class. Mission statements tell an organization where it"s going. Strategy tells the organization how to get there.
