Summary
Summary SHORT RESUME PROJECT 2
- Course
- Institution
PASS YOUR EXAM with this brief summary of the 2nd year course Marketing for Business Administration. It contains all the important material you need to know before the exam.
[Show more]
Seller
Follow
camielhitters
Content preview
Lecture 1 – Business analysis for responsible organizationsResponsible organizing is about creating multiple types of value simultaneously. This
is a complex system, system approaches (theories) help understand these. There
are system approaches (theories) that help to understand these complex systems.
Responsible organization = organization that considers multiple value creations for
stakeholders (not only profit, also societal). It is based on:
Stakeholder theory = interconnectedness between organization and its stakeholders,
organizations should not only create value for shareholders, also stakeholders
System lens = the view that a system is an interconnected set of elements that is
coherently organized in a way that it achieves something
The system approach is about seeing the system as a whole, seeing interrelations,
seeing feedback (loops) and spotting non-linearities or delays.
Lecture 2 – Basics of system dynamics
System thinking = the whole perspective, language, and tools to understand systems,
a problem in a system is in the system, caused by own behavior
Conventional thinking = the original way of thinking about systems, hard approach
System consists of three things: elements (tangible or intangible), interconnections
and a function or purpose (most important, but hardest one to see)
Tragedy of the common = when a resource is used unlimited resource exhausted
Solution: set quotas or other limitations
Dampened oscillations = delay
Oscillation = object in system moves back and forth, returns to initial state after while
Dynamic equilibrium = inflow and outflow balance themselves, the stock is constant
Integrated reporting framework = framework of how organization creates value (short
and long term), insight about resources and relationships and evaluating
performance in context of environment, it reports both financial and nonfinancial.
Important is: capitals (green), business
model, and value creation
Integrated report six capitals = six resources that companies should include in
report(green:
Financial (investments)
Manufactured (buildings, equipment’s)
Intellectual (knowledge-based intangibles from employees)
Human (people’s competencies, motivation)
Social and relationships (with community in which firm operates)
Natural (renewable and non-renewable environmental resources)
, You have to take all six capitals into account, all needs to be good!!(not just financial)
Functions of stocks:
Stocks act as delays, buffers, or shock absorbers. Because, even when inflow
or outflow changes radically, the stock will take time to change.
Also, stocks allow inflows and outflows to be independent and temporarily out
of balance, there will always be an amount in the stock.
Reinforcing feedback loop = leads to exponential growth or exponential decline, it’s
the same as positive feedback loops
Balancing feedback loop = leads to goal seeking behavior, one stock is desired level,
it’s the same as negative feedback loops
One of the most common system structures, is when you have two-goal seeking
feedback loops, one reinforcing and one balancing. There is always one loop that
dominates the other (mostly the reinforcing one at the inflow side).
A delay in a balancing feedback loop makes a system likely to oscillate:
Delay in the inflow increase inflow outflow decreases (bc delay stock too high
Lecture 3 – Stakeholder theory and system dynamics
Stakeholder theory = analyze the relationship between a business and the groups of
individuals who can affect or are affected by it
Stakeholders are all connected, so stakeholder interests are joint serving
stakeholder is the best long-term strategy
Primary stakeholders: customers, employees, suppliers, financiers, communities
Secondary stakeholders: media, government, competitors, special interest groups
Stakeholder interests are joint. Serving these, is best long-term strategy.
Salience model = guidelines on how to map, manage, and engage with stakeholders.
Eight stakeholders with two categories:
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller camielhitters. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.08. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75759 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now