Mergers and Acquisitions

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- Companies usually fill vacant positions:

+ They advertise job vacancies in newspapers and employment agencies.

+ A candidate writes an application or fill in the company’s application form along with your CV.

+ An applicant might be short-listed if his/her qualifications and abilities match the job description

Unit 7: Labour relations

- Labour union = Trade union: Small unit protecting the rights of employees.

- Trade union: an organization that represent people at work. Their purpose is to protect improvement in working condition, improve people’s pay, benefits and encourage the firms to let the workers participate in decision making.

- The reasons for the necessary existence of labor union: A big company needs someone:

+ To represent.

+ To articular the needs of the employees.

+ To act as a social partner to the employer.

Unit 8: Production

- Production: Using the resources of a firm to convert “inputs” into “outputs” which are products or services desired by the customers.

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- J.I.T Production: Just In Time Production: Materials, products are delivered to the production site or retail outlet at the precise time when they are need or sold rather than being stockpilled in a warehouse.

- Advantages of Just-In-Time (JIT) production:

+ Minimizes the cost of holding inventories, which are regarded negatively, as avoidable costs, rather than as assets

+ Greatly reduces transportation and inventory costs, and should ensure that there is no waste from overproduction, or from idle workers waiting for parts.

+ Allows increased productivity because of shortened throughput time

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- Overview of Production Management: 5Ms

+ Men – Women – Method – Machines – Materials – Money.

- Objectives of Production Management:

+ Right quality.

+ Right quantity.

+ Right time.

+ Right manufacturing.

- Elements of Production Managment:

+ Planning – Organizing – Directing – Controlling.

Unit 9: Products

- Procduct: Something satisfies someone’s need , want.

- Product line: A group of closely related products manufactured and/or sold by the company.

- B2B: Business to Business.

- B2C: Business to Customers.

- Raw material + Production Process = Finished Product.

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- Industrial goods: Procducts that other companies buy to make other procducts then sell.

Unit 10: Marketing

- Is science and art of exploring, creating, delivering value to satisfy the needs of target market at a profit.

- Is intersting potential customers clients in products, services.

- Is identifying unfulfilled needs and desires.

- It means that marketers have to:

+ Identify or anticipate a consumer need.

+ Develop a product or service that meets that need better than any competing products or services.

+ Modify a product or service to satisfy changes in consumer needs or market conditions.

+ Design particular features, attractive packaging, effective advertising.

+ Combine market research, new product development distribution, advertising, promotion product improvement.

- Marketing:

+ Marketing Audit (Analyze posibilities, opportunities): Analysis, Segmentation, Strategy.

+ Marketing Research (Gain information on market): Quantitative analysis, Qualitative analysis, Test.

+ Marketing Mix (Persuade customers to buy): 4Ps: Product, Price, Place, Promotion.

- Markeing Audit:

+ Definition: A review or appraisal of your existing marketing activities.

+ Purpose: _To provide opportunities to review and appraise whole marketing activity.

_To assess past and present performance.

_To provide the basis for evaluating possible future courses of action.

- Marketing Research:

+ Understanding context, goals.

+ Developing survey .

+ Administating interviews.

+ Statistical mathematical analysis.

+ Finding the meaning in the result of quantitative analysis.

- Marketing Mix: 4Ps: Product, Price, Place,