Business

House’s Path-Goal Theory: Leaders motivate and guide followers by clarifying goals and removing obstacles. Leadership styles include directive, supportive, participative, and achievement-oriented. Leadership approach adapts to the needs of followers and task demands. Effective in dynamic environments requiring flexibility and employee motivation. Pros Flexible leadership styles to adapt to diverse situations. Focuses on motivating and empowering employees. Encourages collaboration and participation in decision-making. Effective in dynamic and fast-changing environments. Cons Requires leaders to have high emotional intelligence and adaptability. Can be challenging to consistently identify and address follower needs. May not work well in highly structured or routine tasks. Fiedler’s Contingency Model Leadership effectiveness depends on matching the leader’s style with the situation. Leadership styles are task-oriented or relationship-oriented. Situational favorableness is determined by l...

AT&T Case Study Supplier Power:      There are many suppliers in the market, so companies are not dependent on one big provider like AT&T. This variety of different companies allows companies to have more options and the ability to bargain, allowing them to keep supply costs down. Threat of New Entrants:      New companies can enter the market more easily now because the government has relaxed regulations. Therefore, it's much easier for smaller companies to join the market, which could lead to more competition and pressure on existing companies. Competitive Rivalry (Existing Competitors):      Many well-known companies, like Sprint, MCI, and WorldCom, are already competing in this market. These companies are competing on price and the types of services they offer, so it's tough for any one company to dominate. Buyer Power:      Customers have more choices now, and the government has strengthened consumer rights. Becaus...

        Present-day U.S. Labor Relations Laws: National Labor Relations Act (NLRA): Gives workers the right to join unions, bargain with employers, and strike. The National Labor Relations Board (NLRB) enforces these rights and resolves disputes. Fair Labor Standards Act (FLSA): Sets rules for minimum wage, overtime pay, and working hours. It protects both full-time and part-time workers in most jobs Occupational Safety and Health Act (OSHA): Ensures that workplaces are safe by setting safety standards that employers must follow. Equal Employment Opportunity Laws: Protect workers from discrimination based on race, gender, religion, disability, etc., and ensure equal treatment in hiring, pay, and promotions. Family and Medical Leave Act (FMLA): Allows employees to take unpaid leave for medical or family reasons (like having a baby or caring for a sick family member) without losing their job.

Global standard: convenience, efficiency, fairness, safety standard of voluntary acceptance the law of survival the tendency of a powerful nation to become a global standard strategic tools for survival in the global market Fintech: financial/finance + technology collectively refer to new services and technologies that have never been delivered before over the past five years (2008-2013) global fintech investment has more than tripled Some types of payment methods: Samsung Pay Apple Pay Alibaba (Alipay) Kakaopay

 Procedures for Establishing Corporations: Company Name Selection preparation of articles of incorporation payment of fees and taxes holding a general shareholders' meeting adoption of bylaws, appointment of board members, and passage of operational agenda

 Sole Proprietorships:      A form of enterprise established, owned, and operated by one person.  Advantages: It is easy to establish and less expensive. All profits go to the owner. Have direct control. Free from government regulation. There is no particular tax burden. It is easy to dismantle the business. Disadvantages: The burden of responsibility is high. It takes work to secure funds. Management experience could be more substantial It isn't easy to secure an excellent workforce. You have to sacrifice your time. The company's lifespan is unstable. All losses are the sole responsibility of the owner.

 What Is SCM?     Supply Chain Management: Communication between functions and companies Innovation and reengineering of products and processes Increased logistics efficiency, reduced inventory, and stable supply On-time delivery, increased customer satisfaction, increased productivity, improved money flow Problems of PC producers: High inventory management cost Lower customer satisfaction Insufficient reflection of consumer needs Manufacturers dissatisfaction

 JIT: Just-in-time, or JIT, is  an inventory management method in which goods are received from suppliers only as they are needed . MRP: Material requirements planning (MRP) is a system for calculating the materials and components needed to manufacture a product. It consists of three primary steps: taking inventory of the materials and components on hand, identifying which additional ones are needed and then scheduling their production or purchase. TPM: TPM (Total Productive Maintenance) is  a holistic approach to equipment maintenance that strives to achieve perfect production. VA: Value analysis is a set of techniques, knowledge, and skills used to improve the value of a product by eliminating unnecessary costs or improving its functions without compromising its quality, reliability, and performance. It involves understanding the components of a product and related costs. VE: Value engineering is a systematic, organized approach to providing necessary functions in a pro...