the grind v3

Marketing mix: Product, price, place, promotion
4C: Solution, cost, convenience, communication
Intro -> Growth -> Maturity -> Decline

MARKETING: Social and managerial process, obtain what they want, create and exchange products/values

Want: Need shaped by culture and personality

Market -> Need/Want/Demand -> Product/Service/Experience -> Value/Satisfy/Quality -> Exchange/Transact/Relation

Marketing concepts:
- Production / Product / Selling / Marketing / Societal Marketing

Branding: Identify
NEED: Establish / attract / credible / memorable / stability
BENEFIT: Memorable / loyal / familiar / lower marketing / less risk

Logo / Looks / Association / Image / Relationship
How to Position: Product sale / price / quality / advertisement

Attribute: Name/Logo/Color/Essence

Brand Types: Product / Line / Range / Umbrella / Source / Endorsing

Brand Equity [BRANDZ] Presence -> Relevance -> Performance -> Advantage -> Bonding
[Resonance] Salience -> Performance/Imagery -> Judgment/Feeling -> Resonance

Entrepreneurship: Innovation and venture creation through individual/organization/environment/process

Entrepreneur: Actively leading their own business

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Ratios:
DEBT MANAGEMENT
- Debt ratio: Total debt/total asset
- Times earned interest ratio: EBIT/interest expense
LIQUIDITY
- Current ratio: Current asset/liability
- Quick ratio: Current asset - inventory / current liability
ASSET MANAGEMENT
- Inventory turnover: Sales/inventory balance
- Days sales outstanding(account receivable turnover): Receivable / daily sale
- Asset turnover: sales/asset
PROFITABILITY
- Profit margin on sale: net income @ stockholder/sales
- Return on total asset: EBIT/average total asset
- Return on common equity: net income @ stockholder/av. common equity
MARKET TREND
- P/E ratio: price per share * share outstanding / net income
- Book value: equity - pref stock / share outstanding

F/P = (1+i)^n
P/A = F/P - 1 / i F/P

Rule of 72: Doubling time from i% interest = 72/i

CLOP (control lead organize plan)

Motivation determines: Direction/effort/persistence

Taylor's: Money/piece-rate system
Hawthorne: Attention (lighting) / social pressure (piecework)
Expectancy: Expectancy / instrumentality / valence (effort -> performance -> outcome)
Herzberg: Hygiene theory (Motivator/hygiene)

Managerial Power: Legitimate / Reward / Coercive / Expert / Referent

Leadership Models: Trait (Personal) / Behavioral (Action)

Contingency Models: The situation or context. Fiedler/House/L-Sub
Fiedler's Contingency: Leader style (Relationship / Task), Least Preferred Coworker, 3 situation characteristic (Relations / Task Struct. / Position Pow)
House's Path-Goal: Identify -> reward -> clarify, leader behavior (Direct / Support / Participate / Achievement)
Leader-Substitute: Work is rewarding, no need for leader

Transformational vs Transactional

BREAKEVEN FORMULA = FixC / [Sum(1 - VarC/Price)Sale%]

DEPRECIATION:
SL Dep: Dt = (B - S)d, d = 1/n
B = first cost, S = salvage, d = deprate, n = # of yrs

DB: if d = 0.1, then 10% is removed each year, Dt decreases every year
DDB: Maximum d = 2/n

For DB, d of year t = d(1-d)^(t-1)
Dt thus = Bd(1-d)^(t-1)

Implied Salvage = B(1-d)^n

Organizational architecture: Combination of org struct, control sys, culture, HRM

Org struct: Formal system of task&job, achieve org goals
Ctrl system: Process to monitor efficient/effective activities
Culture: Shared values/norms
HRM: Recruit&select, training, performance evaluate, pay, labor relation

Org struct: Mechanistic vs organic, factors (environ, strategy, technology, HR)

Environ: External (mechanistic vs organic)
Mechanistic: Indiv. special, simple hierarchy, central, standard
Organic: Joint special, taskforce&team, decentral, mutual adjust

Strategy: Differentiate, low-cost, response

Technology: Skill, knowledge, tools used in goods&services management; measured by variety and analyzability [Small Batch, Mass Production, Continuous Process, IT]

Job Design: Division of labor
Component: Specialize, expand, psychological, self-direct, incentive, ergonomic, visual work

Specialize -> Enlarge -> Enrich -> Empower -> Self-directed

Job characteristic: Skill variety, task identity, task significant, autonomy, feedback

Structure: Functional, divisional (Product / Geographic / Market), matrix, product team
Allocating Authority: Authority / Hierarchy / Control Span / Line Manager / Staff Manager

Integrating Mechanisms: Direct contact -> Liaison -> Taskforce -> Cross-function -> Integrating Role -> Matrix