juditova, Author at nomadOso

19 Oct 2022

Corporate Social Responsibilities (CSR) and Ethics

Management, Strategystrategy

The main purpose of a company is to be profitable and satisfy its shareholders. However, business must be done in a sustainable and responsible way. Companies should be responsible for their actions and develop their business according to standards which allow them to thrive respecting all the stakeholders and the environment. For example, a company should be responsible to produce their goods in the most environmentally friendly way possible, to assure the future of our planet. What is CSR? Having these ideas in mind, the concept of Corporate Social Responsibility appeared: Corporate Social Responsibility (CSR) refers to the awareness, acceptance and…

13 Oct 2022

By juditova

External Environment in Strategy and Corporate Development

Management, Strategyinternal and external environment, strategy

The external environment is composed by forces outside the firm and outside its control. These forces also influence the firm and can be sources of market opportunities as well as competitive advantages. At this stage it important to distinguish between industry and market: “the term industry tends to refer to a fairly broad sector, whereas a market refers to the buyers and sellers of a specific product” (Grant, 2018). Therefore, the packaging industry comprises several markets such as steel cans, aluminum cans, paper cartons, and many others. Environment analysis The profitability of the companies may largely depend on the industry…

13 Oct 2022

By juditova

Internal Environment in Strategy and Corporate Development

Management, Strategyinternal and external environment, management, strategy

In this chapter, we will focus on the internal environment of the company and on how this could be crucial to its success. Therefore, resources and capabilities are sources of competitive advantage. First of all, it is important to notice that there is a clear distinction between the concepts of resources and capabilities. One can think about the resources as money derived. A company might invest some money and immediately obtain a resource. Capabilities must be developed over time. Put generically: resources refer to what an organization owns, capabilities refer to what the organization can do. For instance, if money is invested in…

09 Oct 2022

By juditova

Fundamental Concepts of Strategy and Corporate Development

Management, Strategyinternal and external environment, management, strategy

Management is both a universal human activity and a distinct occupation. We all manage in the first sense, as we organize our lives and deal with family and other relationships. As employees and customers we experience management in the second sense, as members of an organization, or as one with which we deal (Boddy, 2020). Nowadays, data is an essential part of the management activity in order to make good decisions, supported by facts and not merely opinions. As the management thinker and influencer Peter Drucker once stated: you can only manage what you can measure. You can only manage…

16 Sep 2022

By juditova

Solved Exercises of Distribution in Operations Simulation

Management, Probability and StatisticsExponential Distribution, Normal Gaussian Distribution, Operations Simulation, Statistical Inference

In this posts, you are going to find many solved exercises about probability used in operations. Exponential Distribution Exercise 1 In an industrial environment, the work accidents occur at a rate of 0.5 / week, in a five days week. Calculate: The probability of not occurring any accident in the first week.The probability of occurring one accident on Wednesday of the second week. First, let's see the information that we have got: λ=0.1 (accidents per week) which comes from 1 accident divided by 10 days (5 day-week). Then, we have x=5 days. So we apply the formula in Excel: =DIST.EXPON(x;λ;1).…