MGMT notes 1.28.09

1. Critical thinking is productive and +
2. Crit thinking is a process, not an outcome- by it's nature, CT can never be finished
3. Manifestations of CT may vary according to contexts in which they occur- some internal only /some external things noticeable. 
4. CT can be triggered by - or + events - car crash to change life or promotion
5. CT is emotive and rational  - emotions involved 

Components of CT 

1. identify and challenge assumptions
2. challenge importance of context
3. explore alternatives
4. imagine and exploring alternatives lead to reflective skepticism 

How others contribute to CT 

listening to travelers tales 

helpers are sounding boards

when helpers/educators work in these ways - they encourage CT

Concepts 

BEL business econ notes

Last july - 147/bbl peak and goldman sachs predicted $200 soon! 

on 1/20/09 - $38.74 per barrel!!! 

what drove prices up? - speculation /expectation

what drove them down? - 

Market demand

1. D is quantity of good aquired by consumers in period of time depending on price and other factors
   
2. text indicates direct D and derived D 
   
3. Distinction based on whether consumer value (utility) is directly served not:
   

• direct D would be from immediate consumption of a good 
• Derived D can be by firms (inputs to some other outputs that generate value)
• Derived D - can be for consumer products - gasoline or autos?

MGMT notes 1.26.09

Notes for Management 1-26
Four Styles of Managerial Learning
The experiential Learning model (influenced by Kurt Lewin (1940s))

edited from original found at http://www.engsc.ac.uk/er/theory/figures/Image3.gif

LSI : Learning style Inventory 

most psychs say that the concrete/abstract dimension is where cognitive growth/learning occurs. 

Goldstein and Scheerer suggest that greater abstractness results in development of: 

1. detach ego from world/ourselves
2. assume mental set
3. account for and verbalize events
4. shift perspective
5. think of many things at once
6. grasp ideas as a whole and in parts
7. abstract common props reflectively?
8. plan ahead

in psychoanalytic theory - need for concrete childlike perspective in creative process= regression in service of the ego

Converger AC/AE - practical app of ideas - good at mc w/ one answer - engineers - gold

Diverger CE/RO-imaginative/perspective - brainstorming- arts/humanities/psych- blue

Assimilator AC/RO - theoretical models -basic sciences - R&D -  green 

Accommodator CE/AE - risk taker -business, mktg -  orange

--------------

Tacit Learning 

hunches, intuition, emotions, values, beliefs

nonintellectual qualities

Japanese - more tacit 

American - more explicit

Tall oaks like activities - unless you take time to regroup, debrief, incorporate it into your work-  it's just a fun day in the woods

cultivate the sharing of tacit knowledge in your O 

• watch 
• create environment of trust, respect, commitment
• let people learn by doing 
• in any training exercise, allow for reflection and interpersonal exchange

Aplia Answers

1.1) i put 5 as the quantity
1.2) the firm must lower its selling price (not srure about this one, because of the thing about the monopoly, which was maybe make it be the one about produce more, sell more. )
1.3) True- price equals the average revenue
2) MR= change in TR over change in Q
3) False
4) D = both B and C (either this or just B, but pretty sure its both)
5) true (not totally sure)
6) $5, $3, $2
7) Q= 4

MKTG ch 7

Consumer market - purchasers and household members who intend to consume or benefit from purchases products and do not buy products to make profits

business mkt - indi or groups that purchase a specific kind of product for resale, use in producing, or use in general daily operations

Target Market selection Process

1. Identify the appropriate targeting strat
   
2. determine which segmentation variables to use
   
3. Develop market segment profiles
   
4. evaluate relevant market segments
   
5. select specific target markets
   

homo market - everyone has similar needs

hetero mkt - diverse product needs

market segmentation - divide mkt into groups w/ similar needs

need these conditions for MS to work: 

1. hetero mkt - need to seperate
2. segments are identifiable and divisible 
3. total mkt should be divided into segments with numbers and stats for each to assume how much you will make from each segment 
4. at least one segment needs to have justifiable profit to justify segmentation
5. must be able to reach the segments w/ MMs

mkt segment - in group or o w one or more similar characteristics that cause simlar product needs

differentiated targeting strat- O targets 2 or more segments by developing multiple MMs 

segmentation variables - characteristics used to divide into segments ie/ ASL

1. Demographic - ASL
2. Physchographic - motives, personality, lifestyle - ie health
3. geographic - region, climate, terrain, country size , urban v rural, market density 
4. behavioristic - brand loyalty, price sensitiviy volume usage

Geodemographic segmentation - clusters zip codes and smaller units based on lifestyle and demographics

micromarketing an approach to MS in which O focus precise mktg efforts of very small geographic markets

benefit segmentati on- the division of a mkt according to benefits Cs want from product

MKT potential - p 155

Company sales potential 

breakdown approach 

buildup approach 

sales forecast

exec judgenment

C forecasting survey 

sales force forecasting survey 

expert forecasting survey 

Delphi tequnique

time series analysis

trend analysis

cycle analysis

seasonal analysis 

random factor analysis

regression analysis

market test 

 

MKTG ch 2

3rd largest automaker - FORD - the way forward - customer concentration - such as focusing the fusion for women car buyers
Strategic planning - process of establishing an organizational mission and formulating 

• goals
  
• corporate strat
  
• mktg objectives
  
• mktg strat
  
• and a mktg plan
  

MKTG strategy 

• identify target mkt
• develop MM

SWOT

• strength 
•  weaknesses
• opportunity
• threats
• 

• Mission statements
  
• Corporate strategy 
  
• business unit strat
  
• mktg star
  
• MM elements

SBU- strat business unity - a division, product line or profit center within a parent company 

This is the growth share matrix developed by the boston consulting group 

star - hi hi wii- uses a lot of cash, gains a lot

cash cow -lo cash needed, hi cash gained bounty paper towels

question marks-  hi cash needed lo cash gained - take a lot of cash and dont promise much - this is the problem child - carbon powered motorcycles

dogs - lo lo  not a lot of cash needed, dont get a lot of cash - old tvs?