Chapter 8,9,12 - Lecture notes ch 8, 9, 12 PDF

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Lecture notes ch 8, 9, 12 for Intro to Global Business at University of Tampa...

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CH 8! sole proprietorship: ! • advantages: ! • be your own boss! • no sharing of profits! • avoid double taxation! • easy formation! • easy dissolution! • disadvantages! • unlimited liability! • difficult to raise funds! • difficult to borrow money! • difficult to attract human capital! • lack of permanence ! partnership:! • general! • sharing profits or losses! • joint ownership! • shared financial responsibility ! • shared running of the business! • limited! • sharing profits! • joint ownership! • no involvement in decision making! • limited liability ! corporation:! • C Corporation! • double taxation! • can buy shares in C corporation! • S Corporation! • restrictions on status! • Limited Liability Corporation! • limited liability! CH 9! Gather financial data! Organize it! Analyze to see if you’re doing well! Report it to others! accounting stakeholders! internal: management and marketing! external: investors, creditors, govt! Financial Accounting Standards Board (FASB)! $ Generally Accepted Accounting Principles (GAAP)! $ Required in the U.S.! International Accounting Standards Board (IASB)! $ International Financial Reporting Standards (IFRS)! $ just guidelines because there is no international law, can’t be enforced internationally!

CH 12! Product! • products can be physical goods or intangible such as services ! • some companies focus on consumer buyers and some focus on business to business buying! • cannibalization: taking sales from their old product to their new product! Services! • intangibility: people being nice, service at a restaurant, how they treat you is not tangible! • perishability: perishable because it doesn’t last and isn’t tangible! • heterogeneity: can have different experiences each time! • inseparability: cant separate bad service from the food you ate! Promotion! • inform: tell you what they’re selling! • persuade: convince you to buy it! • remind: remind you how to buy it or access it!

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pull strategy: advertisement, show them an add and try to pull them into buying the product! push strategy: salespeople to push the product down to people! integrated marketing communications:! promotional planning: advertising, PR, getting name out there!

Pricing! • do i want to go after profit or sales! • status quo: company is fine with 30% rather than 60%!

• elastic: impacted by price ! • inelastic: not affected by price! Place! • intermediary: whoever in the middle of the chain! • intensive distribution: Coca Cola, found basically everywhere! • selective distribution: can’t find everywhere, lower level designers, Nordstroms, Macy’s, not found at Walmart! • exclusive distribution: found at a company’s exclusive licensed distributors...