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Critical thinking for business study guide

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COMM210 THEORIES CHAPTER 1 & 2 Claim: major conclusion of a piece of writing that the author is trying to persuade you to accept • • Uncontested claims o Consistent with our own experiences and observations o Facts independent of interpretation o Agreement among experts or strongly supported general claims that are common o Technical or mathematical claims Contestable claims o Not commonly accepted knowledge o Often introduce new ideas that awaken curiosity o Sometimes presented as if it were a fact o Cannot stand on their own Chandler: Building Successful Organizations Key Concepts Managerial enterprise refers to large industrial concerns in which operating and investment decisions are made by a hierarchy of salaried managers governed by a board of directors Economies of scale: Large plants can produce products at a much lower cost than small ones because the cost per unit drops as the volume of output rises Economies of scope: Large plants can use many of the same raw and semi-finished materials and intermediate production processes to make a variety of different products Flow of materials must be kept constant for these potential cost advantages to be fully realized Chandler’s Major Claims à Successful firms capitalize on economies of scale and scope, create management structures and invest in research and development. To capitalize on manufacturing investments, First Mover organizations must invest heavily in: • • National (and international) marketing and ...
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Very useful material for studying!