Effective Risk Management Strategies and Competitive Advantage
Risk Management Essentials
Risk: Likelihood that some event will occur; Impact of event if it does occur.
Process: Identify risks, Assess risk, Plan risk response, Track & Control Risk.
Sources: Internal: due to nature of end item or the process; External: project environment.
Assess the Risk: Consequences, Probability, Impact.
Risk Response Strategy:
- Transfer: insurance (they pay not you)
- Avoid: eliminates & replaces with lower risk solution
- Mitigate: monitor and manage
- Accept: accept the associated
Anthropometry, Packaging and Pop Art: Key Concepts
Anthropometry: Measuring the Human Form
The study and measurement of physical and functional dimensions of the body, considering the differences between the characteristics, abilities, and physical limits of the human body. Anthropometric surveys relate to a specific population, such as male or female, and in different age ranges. Examples include:
- Studying the size of hands of people in a certain age band to design a cell phone.
- Defining the visual location of fields in a commercially decorated room.
Understanding Marketing: Organization, Activities, and Market Research
Fundamental Dimensions of Marketing Organization
A) Organization for Marketing Roles.
B) Product Marketing Organization.
C) By Region Marketing Organization.
D) Organization for Marketing Clients.
Activities Within the Field of Marketing
A) Research and Approach to Markets. Justification: Given the economic development of the country, decision-making in business, and more specifically in the area of marketing, called for a wealth of information and a number of tests that were not so necessary when
Read MoreSustainable Development: Natural Hazards and Global Goals
Natural Hazards and Sustainable Development
Natural hazards: probability of occurrence of adverse consequences motivated by physical phenomena, which have natural origin: hydrological, geological or atmospheric, which can affect local, national or international levels, with the capacity to harm humans or the environment. These risks can lead to natural disasters.
Characteristics of Sustainable Development
Ecological Sustainability
The Basic Premises:
- Use potentially renewable resources below their capacity
Operations Management: Strategies, Processes, and Competitive Advantage
Operations Management Fundamentals
Value Creation and the Transformation Process
Operations Management (OM) is the set of activities that create value in the form of goods and services by transforming inputs into outputs.
- Feedback: Measurements taken at various points in the transformation process.
- Control: The comparison of feedback against previously established standards to determine if corrective action is needed.
- Value Added: The difference between the cost of inputs and the value or price of outputs.
Entrepreneurship and Business Management Essentials
What is Entrepreneurship?
Entrepreneurship is accepting the risk of starting and running a business. It is the capacity and willingness to develop, organize, and manage a business, along with any of its risks, in order to make a profit.
In economics, entrepreneurs utilize labor, land, and capital. From an economic point of view, an entrepreneur is one who brings resources, labor, materials, and other assets into combinations that make their value greater than before. They also introduce changes, innovations,
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