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318

Module 1

QuestionAnswer
What is the goal of every manager to max the long-run profits of a firm by profitably satisfying customers needs
______________ - _____________ = profits revenue - costs
we are always trying to _________ revenues and ___________ costs increase, decrease
What are the four functions of management marketing, financial, supply chain, and human resource
Understanding customer needs and effectively positioning and selling products and services in the marketplace marketing management
What is the closest function of management to the customer marketing management
Generating the data needed to make good decisions, using the tools of finance to make effective decisions, and making assets, liabilities, and owners' investment in the firm financial management
What management includes accounting, investment decisions, and ratio analysis financial management
pushing for quality, lower costs, and making production more efficient in meeting consumer demands supply chain management
direction and the control of the processes used to produce the good and services operations management (under supply chain management)
the set of activities around storing and transporting goods and services logistics management (under supply chain management)
The mechanics of personnel administration, and the finer points of motivating people to offer and contribute their maximum potential Human resource management
What sets an agribusiness apart from a regular business? food as a product, biological nature of products, seasonal nature of business, weather, rural ties
When a farmer is selling its own meat instead of selling to a retailer forward integration
When a retailer buys its own cattle to sell the meat from instead of buying from a farmer backwards integration
Is having a lower percent of dollar to a farmer bad? not necessarily becuase its better to have 10% of $100 then 50% of $10
What are the four tasks of management planning, organizing, controlling, and directing
Created by: ljbudde
 

 



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