Assignment -Streghten Other

Every quarter meeting,Supervisor will go though every employee's performance.
For example: How is the employee to do his or her work ? efficient?
What kind field belongs to ? when he or she needs to finish the work? Is it done within date period? Why he or she need to do these priority rather than those?
besides everyone daily progress spreadsheet, every employee have to
illustrate and answer above 4 questions.If both are positive,I feel personally capable.
Every semi-year supervisor will do employee assessment in writing. and
overall I got a successful evaluation that makes me feel capable too.
When new employee comes, supervisor appoint me to be a trainer to train
the new comer,That makes me feel powerful.
If the leader assigns the more important work to new comer instead of
me, I will feel insignificant.

Economic

Demand and supply are used to explain the behavior of perfectly competitive markets, but their usefulness as a standard of performance extends to any type of market. Demand and supply can also be generalized to explain variables applying to the whole economy, for example, quantity of total output and the general price level.
Microeconomics. Supply equals demand at an equilibrium price. Consumers try to minimize opportunity costs and maximize marginal profits and utility.If they respond to price changes, economists call their behavior elastic.
Macroeconomics. Keynesians like government and consumer spending. friedman and his monetarist friends place their faith in the control of the money supply .it looks like both camps have valid points to make, but neither has a corner on explaining how economies work. In any case, supply equals demand at an equilibrium price. that much they agree on.
Global Macroeconomics. the economies of the world keep track of their activity using balance of payments accounting. If they are doing a good job, inflation stays low,.If not a country may end up in an economic quagmire like Lebanon.and also you can use the country analysis framework to make a prediction.

Economic

Finance

Simply stated, there are two main functions in the financial world: buying and selling. businesses require funding, therefore, they either sell equity shares in their companies (stocks), or fixed-interest-payments securities (bonds). The investment community values these securities and buys and sells them.
The theoretical basis for financial analysis is the risk/reward equation, in which higher risks are associated with higher returns. Returns are calculated by determining the amount and the timing of cash flows.
the guiding principle of financial management is to maximize the firm's value by financing cash needs at the least cost possible, at a level of risk that management can live with.
Finance and Accounting are different. Finance -strategy decision. Accounting- Information. trends facts.topic in finance:(1) External- Investment: Valuation and Cash flow.(2) Internal-Financial Management:Dividend and Merger and acquisition.

Organization behavior

Organization Development is application behavioral knowledge at various level such as group,management, organization etc to bring about planned change. its objectives is higher quality about work-life,productivity and efficiency. It accomplishes this by change attitudes, behavior,value,strategies procedures and structures so that the organization can adapt to competitive actions and the fast pace of change within the environment. (1)positive beliefs about the potential employee.(2)all parts of organization and people must work together.(3)learning and training should be on site job.(4)problem solving.(5)contingency orientation.(6)change facility and coordinate change.(7)problem will occur one or more level in organization so the strategy will require one or more interventions.

above all MBAs should think before they act. when MBAs need to take action, they should thoroughly analyze the situation, first from the perspective of individual and then from an organizational vantage point, to create a coordinated and effective action plan. MBAs are not trained to be "organizational experts" by any means, but with a feww theories and frameworks, they should have a better chance of acting effectively.

My business vision-strategy-

When I run my business-Chinese Dumpling Restaurant-,At the beginning I adopt family style to manage it.I am not only keep traditional stuffing into dumpling-for example Chinese cabbage with ground pork, celery with ground beef,leek mix shrimp and ground pork, gourd mix ground pork etc. but I am also will develop new stuffing flavor into dumpling such as pumpkin mix pork,fish meat, green bean mix pork and vegetable etc.
if each dumpling sells $75 cents and I estimate I can sell 5000 pieces dumpling per day then 0.75 times 5000 equal$3750.00.and then per month the gross income is 112,500 then deduct expense for example material-meat,seafood,vegetable, utility and employee's salary base on long term, it is making money business. for example because I run family style business and all employee are my siblings and relative so a lot expense I can save.you will never regret to invest my business because I have experience about cook good dumpling and I welcome someone to compete with me because the first the more compete the more promote. the second I will invent more and more new flavor and keep tradition flavor in order to attract new customers and keep old customers. by the way the dumpling skin is hand made.

Operations

Enterprises are becoming increasingly global, with supply chains and manufacturing processes spanning oceans and continents. To navigate the global marketplace, senior managers need to know how to plan the most efficient use of material resources, as well as manage more complicated global networks and optimize service and quality.

They need to be able to create a dynamic operations strategy that fosters:

* continuous, incremental improvement
* groundbreaking innovation, and
* competitive market advantage.
When I run a business, for example Chinese Dumpling Restaurant I will emphasize Quality, Nutrition,Sanitary,Location,customer service, reasonable price.
At the beginning I will do ads, and then people those who after eat my dumpling, will be my loyal customers and ads too.

Quantitative Analysis

A quantitative analyst is a person who works in finance using numerical or quantitative techniques. Similar work is done in most other modern industries, but the work is not always called quantitative analysis. In the investment industry, people who perform quantitative analysis are frequently called quants.

Although the original quants were concerned with risk management and derivatives pricing, the meaning of the term has expanded over time to include those individuals involved in almost any application of mathematics in finance. Examples include statistical arbitrage, algorithmic trading, and electronic market making and MBA. Trading and sales operations, quants work to determine prices, manage risk, and identify profitable opportunities. Historically this was a distinct activity from trading but the boundary between a desk quant and a quant trader is increasingly blurred, and it is now difficult to enter trading as a profession without at least some quant education. In the field of algorithmic trading it has reached the point where there is little meaningful difference. Front office work favor a higher speed / quality ratio, with a greater emphasis on solutions to specific problems than detailed modelling. FOQs typically are significantly better paid than those in back office and risk, and in model validation. This has obvious implications for the quality of decisions at a strategic level. Although highly skilled programmers, time constraints mean that complex decisions are made using Excel and ad-hoc tools.

what kind leader are you "using vcm model"

The Leadership VCM Model proposes that the following three characteristics are part of leader's personal profile: Vision, Commitment and Management Skills.
The Vision is an expectation or motivating to obtain effort. for example if I were a leader at the first I will set goal about the business with the subordinate during the specific time frame, the second I will set reward to my subordinate those who succeed to complete the goal.
The commitment the other word is keep one' promise, If I were leader I will do my best to keep my promise. That means at the first, I will collaborate with subordinate efficiently to reach the Vision that we expect.The second, as a leader not only focus the company's interest but I also care about subordinates' benefit, so if we meet the goal they are deserved their award.
The Management Skills--the other word is how to develop and stimulate employee's working efficient in order to meet the business goal. Actually both operating business and managing employee are important. Because running a company must rely on employee,the good team work lead to a successful business. If I were manager at the first I will pray to God for wisdom, the second, I will adopt theory z--It combines both theory x and theory y. the other word is that The management skill bases on employee's personality.
At the last, we need to remember that the good employee are the biggest assets for company, because the business is successful or not, it bases on employee effort.

Accounting

Accounting is the language of business.Corporations need to communicate their results to the world. Their audience includes employees,investors,creditors customers,suppliers,and communities. withing the company, accounting information provides a means to control,evaluate,and plan operations. Accounting is numbers so that business activity can be recorded summarized, and analyzed.
If you want to realize how the company runs, Accounting will let you know.The concept as below: at the first :the balance sheet:Assets=liabilities + Owner's Equity, are
Accounting records and statements always balance, the statements can be interpreted by using ratios: P/E Ratio::company per share divided by company earnings and remember the lower number we get the better company runs. The second income statement and the third cash flow besides that also We need to know depreciation belongs to assets contrast account and expense belongs to Owner's Equity contrast account because if expense increase equal Owner's equity decrease but revenue increase equal Owner's equity increase.
Accounting conservation and historic cost. for example: The Owner's of company bought a building in 1998, and if Accountant or CPA want to evaluate the owner's assets in 2001, the value of building base on in 1998 instead of 2001.

If you guys want to know more and more knowledge about Accounting,go to MBA class and you will learn from DR. Tao.

Ethic challege you or your business

Long time ago, In Jungle or in Indian's area There was a kind of disease which was happened via a bite of specific insect to be burst.That meant as soon as people were bitten by that kind of insect They would be laid eggs under their skin and automatically reproduced more and more. as a result the disease spread fast and widely especially in poor area besides that in addition to there was no known cure.
A while later, A pharmaceutical Department of Medicine Manufactory Company researched and found a pill which could heal sick people,if the Owner sold the pill to people He will earn uncountable profit for his company. but at the last He decided to give a pill to those who needed it for free. Eventually he saved a lot of people's life. In short term we will think that the owner lost a huge of money, but in long term He won, because he gained the good reputation , ethic and moral which equal uncountable wealth and respect forever.
Some of us might be facing similar situation in future or now, it's a good idea to start thinking about how we as an individual would make right decision. I believe that It's always best for a business or employee to act ethically. because in the long term it will be the best.

Ethic challege you or your Business

BUSS 600 - First Class Impression

Anyone on this site

Last Saturday In the class- Operating System- I got some idea about the version of computer because professor Thomas and Dr. Tao's lectured on the generation of Computer concisely. for example m/s window 7 the newest version , Windows vista is productive but slow. Apple's MAC OS X is good for graphic design, Linux is free and Virtualization reduces cost.

Dr. Tao mentioned that in the past, it was not computerized. If people needed to represent themselves to public, they had to stand on the stage to face audience and make speech in the theater. but now, because the world is all computerized, we only need to turn on the TV and use skype then we can face to face talk to each other. So computerize shortens and expedites the relationship between you and me.

Stephanie Yuan

weekly study planning

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I prefer study every day 2 hours instead of studying on weekend. so my study plan as below:
Monday through Friday 8.00 pm to 10:00 pm.
Thursday I will join office hours.

Thank you.

Stephanie Yuan

My business vision

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If I were a owner, I 'd like to run a " Chinese Dumpling Restaurant ". In my memory, My mom said that the Dumpling is the best food compare the others, At the first, it has various nutrition because it consists of flour, meat,sea food, vegetable etc. The second, It is multiple choices because it can be made different kind of flavor to content with those who are different appetite. such as If you are a vegetarian, The vegetable Dumpling is the best choice, if you are a sea food person or meat person then the dumpling will be made of fish,shrimp and crab or meat. The third, the dumpling is organic and conservation for your body because it is cooked by boiled water that means less grease and fry. So most of time my mom cooks Dumpling to feed all family.
How to manager the Dumpling Restaurant? At the beginning, the most important thing is that I will learn the skill "how to make a good dumpling" from my mom. the second, I will pick good location for the Restaurant, the third, I will gather my sibling that I have three sisters, relatives and friends as my employee. The third, I will do some advertise such as I will invite friends, other people or neighborhood by flyer or by oral to come to my Restaurant eating dumpling for free in order to research
In the future I plan centralized "the Dumpling Restaurant" because not only I expand my business, but I also hope to share good things to many people.

B600 10 FUNDATION --SIX POINTS

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The first: Marketing is Customer Value Proposition :offer the right product,to your target customers,at a price that is acceptable to them,based on their perception of the value,at a cost that gives you a profit.

second:Marketing's definition:"Getting the right goods,to the right people, in the right place, at the right time,at the right price,with the right level of communication profitable.

Third:why study marketing: cost about 50% of total product costs, are marketing costs, careers about 25% to 33% of the work force hold marketing position,contribution to individual organizations critical to the success of a firm,contribution to society marketing decisions affect the lives of individual consumers and society as a whole,the aim of marketing is to make selling unnecessary.

Four:marketing terminology : product: a tangible item-something you can see such as car,shirt books.service:something intangible such as financial advice,brand: the name fiven to a product or service such as apple computer.
marketing vs selling: marketing : customer focused, long-term,relationships. selling: product focused,short-term,transactions.

Five: marketing's 4ps(plus 2s):people, product,price,place,promotion,profit.marketing cycle: test and try for potential customers, report and review to use different way to find feedback, plan and prepare.

Six: Marketing gives customers needs and wants,if we have marketing done we need do promotion: personal selling, advertising, marketing products available in store,maintaining inventory,catalog,coupon and goods,experience,events,persons,places,properties,Organization,services can be marketing and understand,provide,communicate are three keys to marketing.always remember : customers are boss and king,so identify and satisfying customers needs.

What are the competitors doing

Marina Chinese Supermarket" and "99 Ranch" are the largest Chinese Supermarket in Chinese Society so that those two supermarkets compete always.
"Marina" supplies all different kind of food. such as at the first, deli food court includes Ding sung-Cantonese dessert,fry rice noodle, beef noodle, sweet pork,Peking duck,soy milk,roast beef,roast pig feet,roast baby pig etc. the second, there is a small restaurant which close to deli food area when customers finished their shopping they can eat breakfast, lunch or dinner there.The last, also there is Bakery store there,everyday it provides fresh bread, cake. curry, chicken and sweet pork pastries.
The owner wants to attract to people so that he supplies benefit to customers that is the more you buy food in "Marina" the more you get free deli food coupon, or Supermarket on sale .
"99 Ranch" supplies deli food court too includes Ding Sung,Taiwan desert, China desert the most food same as "Marina" but the only one different food is over rice with ground meat cooked by mixed with soy sauce.
Because the owner have pressure from the "Marian",at the first, he decides supplies free deli food coupon for customers. the second,he motivates to open franchise at different places. the third, he often held on for sale in supermarket to attract people.the last, sometimes, there is special price for specific goods and food, such as instant coffee, sea bass, fish,ground meat etc.
Both owners- "Marian" and "99 Ranch"- emphasize advertising such as: TV, Radio, flyers, magazines ,personal introduce, on sale ,and held on free food.
in order to meet their goal.