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Flashcards in Midterm Deck (3)
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1

What are the 6 value chain functions

R&D
Design
Production
Marketing
Distribution
Customer service

2

What is the five steps of the decision making process

1. Identify the problem and uncertainties

2. Obtain informatio

3. Make predictions about the future

4. Decide on one the the available alternatives

5. Implement the decision, evaluate performance, and learn

3

What is planning and control

Planning is a purposeful analysis of info to select and rank in importance the goals of an organization

Control is a when managers compare actual and targeted nonfinancial measures as well as financial measures and take corrective actions