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Soft Skills: Success May Depend on Them
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What skills do you need to develop for future success? Academics for sure, but soft skills are also important. Learn more about soft skills, the labor force, and unemployment in the May 2016 issue of Page One Economics: Focus on Finance.

Subject:
Business and Communication
Economics
Finance
Social Science
Material Type:
Lesson
Reading
Provider:
Federal Reserve Bank of St. Louis
Provider Set:
Page One Economics
Author:
Kris Bertelsen
Date Added:
06/14/2023
Specialization and Division of Labor
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CC BY-NC-SA
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This example engages students in a simple simulation of specialization and division of labor. All that is needed are staplers and some paper.

Subject:
Business and Communication
Economics
Social Science
Material Type:
Activity/Lab
Simulation
Provider:
Science Education Resource Center (SERC) at Carleton College
Provider Set:
Starting Point (SERC)
Date Added:
04/12/2023
The Stagecoach: A Photo Essay on Western Travel
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Educational Use
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Western Mining History presents a short history of stagecoach travel from the frontier west during the gold and silver rush. The resources shows Historical|Photographs of stagecoach travel. Western Mining History is an historical site that provides databases, information on mining, mining towns, gold and Photos and maps of the western United States. Consider becoming a member or making a donation to help further the work of the site.

Subject:
Anthropology
Business and Communication
Cultural Geography
Earth and Space Science
Economics
English Language Arts
Finance
History
Physical Geography
Physical Science
Reading Informational Text
Social Science
Sociology
U.S. History
Material Type:
Primary Source
Reading
Provider:
Western Mining History
Provider Set:
Mining History
Date Added:
02/06/2023
Stata Monte Carlo Simulation for Heteroskedasticity
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CC BY-NC-SA
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This is a simulation for a beginning econometrics course that shows students how heteroskedasticity biases an estimator and why the power of a statistical text is important.

Subject:
Business and Communication
Economics
Social Science
Material Type:
Activity/Lab
Simulation
Teaching/Learning Strategy
Provider:
Science Education Resource Center (SERC) at Carleton College
Provider Set:
Teaching and Learning Economics (SERC)
Date Added:
04/12/2023
Statistical Discrimination and Motherhood: Using Media to Teach Economics
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CC BY-NC-SA
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A news story interviews a woman who claims that it was difficult for her to find employment because she had children. The story is used to examine the concept of statistical discrimination and whether public policy should be used to discourage statistical discrimination in this case.

Subject:
Business and Communication
Economics
Social Science
Sociology
Material Type:
Activity/Lab
Lecture
Provider:
Science Education Resource Center (SERC) at Carleton College
Provider Set:
Teaching and Learning Economics (SERC)
Date Added:
04/12/2023
Stochastic optimization practice
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CC BY-NC
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Lecture notes on practical examples of using stochastic optimization in financial risk management

Subject:
Business and Communication
Business, Marketing, Finance, and Administration
Career and Technical Education
Finance
Mathematics
Statistics and Probability
Material Type:
Lecture Notes
Provider:
Colorado State University
Provider Set:
Mountain Scholar
Author:
Wang Tianyang
Date Added:
03/09/2023
Stock Market Strategies: Are You an Active or Passive Investor?
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CC BY-NC-ND
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Stock market mutual funds offer investors diversified stock market portfolios, but there are several types. Actively managed funds attempt to “beat” the market by using research, forecasts, and judgment to pick stocks with the best growth prospects. Passively managed funds attempt to replicate the market by buying a representative sample of the stocks on a specific stock market index. Which to choose? The April 2016 issue of Page One Economics explains the efficient market hypothesis and how it might influence your investment decisions.

Subject:
Business and Communication
Economics
Finance
Social Science
Material Type:
Lesson
Reading
Provider:
Federal Reserve Bank of St. Louis
Provider Set:
Page One Economics
Author:
Scott A. Wolla
Date Added:
06/14/2023
Strategic Management
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CC BY-NC-SA
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Strategic Management (2020) is a 343-page open educational resource designed as an introduction to the key topics and themes of strategic management. The open textbook is intended for a senior capstone course in an undergraduate business program and suitable for a wide range of undergraduate business students including those majoring in marketing, management, business administration, accounting, finance, real estate, business information technology, and hospitality and tourism. The text presents examples of familiar companies and personalities to illustrate the different strategies used by today’s firms and how they go about implementing those strategies. It includes case studies, end of section key takeaways, exercises, and links to external videos, and an end-of-book glossary. The text is ideal for courses which focus on how organizations operate at the strategic level to be successful. Students will learn how to conduct case analyses, measure organizational performance, and conduct external and internal analyses.

If you are an instructor reviewing, adopting, or adapting this textbook, please help us understand your use by filling out this form http://bit.ly/strategy-interest

How to Access this Book This text is available in multiple formats including PDF, a low-resolution PDF which is faster to download, Open Document Format (ODT), and ePub. It is also available online in Pressbooks at https://pressbooks.lib.vt.edu/strategicmanagement. Softcover print on demand options are available in color interior (https://www.amazon.com/dp/1949373940) or black & white interior (https://www.amazon.com/dp/1949373894). The main landing page for this book is: https://doi.org/10.21061/strategicmanagement.

Attribution This textbook was adapted for use in Virginia Tech’s Pamplin College of Business capstone course, MGT 4394 Strategic Management, and is shared under a Creative Commons Non-Commercial ShareAlike 3.0 license. It is adapted without attribution to the original 2010 author or publisher at their request. It is adapted from Mastering Strategic Management which was published by the University of Minnesota Publishing in 2015 as an adaptation of the 2010 version. University of Minnesota Publishing reformatted the original text, and replaced some images and figures to make the resulting whole more shareable but did not otherwise significantly alter or update the original 2010 text.

Powerpoint slides are available at http://hdl.handle.net/10919/102735
A testbank only for instructors is also available at http://hdl.handle.net/10919/104179

Instructor Resource Portal in OER Commons
https://www.oercommons.org/groups/strategic-management-instructor-group/5209

Table of Contents
Chapter 1: Mastering Strategy: Art and Science
Chapter 2: Assessing Organizational Performance
Chapter 3: Evaluating the External Environment
Chapter 4: Evaluating the Internal Environment
Chapter 5: Synthesis of Strategic Issues and Analysis
Chapter 6: Selecting Business-Level Strategies
Chapter 7: Innovation Strategies
Chapter 8: Selecting Corporate-Level Strategies
Chapter 9: Competing in International Markets
Chapter 10: Executing Strategy through Organizational Design
Chapter 11: Leading an Ethical Organization: Corporate Governance, Corporate Ethics, and Social Responsibility
About the Author / Editorial and Production Teams
Version Notes
Glossary

This work is published by Virginia Tech’s Pamplin College of Business in association with Virginia Tech Publishing.

Suggested Citation Kennedy, Reed. (2020) Strategic Management. Blacksburg, VA: Virginia Tech Publishing. https://doi.org/10.21061/strategicmanagement CC BY NC-SA 3.0

Contributors
About the Previous Author
The publisher of the 2010 version of this book requested that they and the original author not receive attribution.

This Version
Primary Contributor: Reed B. Kennedy
Reviewer / Contributors: Eli Jamison, Joseph Simpson, Pankaj Kumar, Ayenda Kemp, Kiran Awate, and Kathleen Manning
Cover Design, Illustration, and Alternative Text; Student Reviewer: Kindred Grey
Research and Editorial Assistant; Student Reviewer: Kathleen Manning
Managing Editor: Anita Walz
Production Editor: Robert Browder
Copyeditors: Grace Baggett, Lauren Holt

ISBN 978-1-949373-94-3 (print-color)
ISBN 978-1-949373-89-9 (print-black & white)
ISBN 978-1-949373-96-7 (ebook-PDF)
ISBN 978-1-949373-95-0 (ebook-Pressbooks)
https://pressbooks.lib.vt.edu/strategicmanagement
DOI: https://doi.org/10.21061/strategicmanagement

Accessibility Virginia Tech Publishing is committed to making its publications accessible in accordance with the Americans with Disabilities Act of 1990. The HTML and screen reader–friendly PDF versions of this book utilize header structures and include alternative text which allow for machine-readability.

Subject:
Business and Communication
Material Type:
Textbook
Provider:
Virginia Tech
Provider Set:
VTech Works
Author:
Awate Kiran
Jamison Eli
Kemp Ayenda
Kennedy Reed
Kumar Pankaj
Manning Kathleen
Simpson Joseph
Date Added:
05/11/2023
Strategic Management (Business 501)
Unrestricted Use
CC BY
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This course is the capstone of the business major, because it incorporates elements from all of the core courses you should have already completed. Almost every topic should be familiar to you to some degree; however, Strategic Management ties them all together. This course begins with an introduction to the field and the definition of some important terms and concepts. You will then move on to identifying goals and formulating strategies before addressing implementation topics. This course will conclude with strategies for the 21st century. This course should be taken after all core courses have been completed and, ideally, near the end of your completion of the elective courses.

Subject:
Business and Communication
Management
Material Type:
Activity/Lab
Full Course
Homework/Assignment
Reading
Syllabus
Provider:
The Saylor Foundation
Date Added:
05/11/2023
Strategic Marketing in the Global Forest Industries - Third Edition
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CC BY-NC
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The forest industry is increasingly global and every marketer of forest products should have a global perspective. As a natural resource-based industry, the forest industry has an especially high profile role in environmental protection and is increasingly involved in climate change mitigation and management. Global forests are not only important because they provide a source of industrial raw material, but also because of the various other human needs they satisfy. A forest products marketer should have a basic understanding of the role that global forests play in society. Major societal trends are impacting the external environment within which the forest industry operates. We provide an overview of global forests and a brief description of the markets for the main categories of the forest industry.

Subject:
Business and Communication
Marketing
Material Type:
Textbook
Provider:
Oregon State University
Author:
Eric Hansen
Heikki Juslin
Date Added:
05/10/2023
Student Debt Crisis
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Educational Use
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This lesson is divided into two student readings. The first reading compares the scope of the present student debt crisis with the past and discusses what has changed. The second reading explores some proposals for dealing with the student debt crisis. Discussion questions aimed at getting students to think critically about the student debt problem and its possible solutions follow each reading.

Subject:
Business and Communication
Economics
Finance
Social Science
Material Type:
Activity/Lab
Lesson Plan
Reading
Provider:
Morningside Center for Teaching Social Responsibility
Provider Set:
Teachable Moment
Date Added:
12/04/2011
Sumpter Valley Gold Dredge
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Educational Use
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Western Mining History presents a short history of a dredging unit from Sumpter Valley used during the Gold Rush. The dredge was a mining technology brought into use after 1890. Western Mining History is an historical site that provides databases, information on mining, mining towns, gold and Photos and maps of the western United States. Consider becoming a member or making a donation to help further the work of the site.

Subject:
Anthropology
Business and Communication
Cultural Geography
Earth and Space Science
Economics
English Language Arts
Finance
History
Physical Geography
Physical Science
Reading Informational Text
Social Science
Sociology
U.S. History
Material Type:
Primary Source
Reading
Provider:
Western Mining History
Provider Set:
Mining History
Date Added:
02/06/2023
Supply Chain Management Simulation Activity
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CC BY-NC-SA
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A free online simulation that demonstrated the bull-whip effect, and the complexities of supply chain management, responding to changes in customer demand.

Subject:
Business and Communication
Economics
Management
Marketing
Social Science
Material Type:
Activity/Lab
Data Set
Simulation
Provider:
Science Education Resource Center (SERC) at Carleton College
Provider Set:
Starting Point (SERC)
Author:
Michelle Kunz
Date Added:
04/12/2023
Supply and demand
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CC BY-SA
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In microeconomics, supply and demand is an economic model of price determination in a market. It postulates that, holding all else equal, in a competitive market, the unit price for a particular good, or other traded item such as labor or liquid financial assets, will vary until it settles at a point where the quantity demanded (at the current price) will equal the quantity supplied (at the current price), resulting in an economic equilibrium for price and quantity transacted.

Subject:
Business and Communication
Management
Marketing
Public Relations
Material Type:
Case Study
Lecture
Teaching/Learning Strategy
Textbook
Date Added:
05/10/2023
Sustainability Driven Innovation
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CC BY-NC-SA
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Are you prepared to find strategic opportunities for sustainability-driven innovation within your business or organization? This engaging course will prepare you to do just that. BA 850 will give you the tools and practical experience needed to discern consumer and organizational needs related to sustainability, to create unique offerings to meet sustainability needs, and to develop innovative processes necessary to test and refine sustainable solutions.

Subject:
Agriculture and Natural Resources
Business and Communication
Environmental Studies
Marketing
Material Type:
Full Course
Provider:
Penn State's College of Earth and Mineral Sciences
Author:
Andrew James
Date Added:
05/10/2023
Sustainability, Innovation, and Entrepreneurship
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CC BY-NC-SA
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This book is suited for the Entrepreneurship or Innovation course with an emphasis on Sustainability or for a course devoted entirely to Sustainability.

What are the trends and forces underlying the changing character of the business-environment relationship? How they are creating significant entrepreneurial opportunities for individuals and companies? Around the world, the movement toward “sustainable development” has caused many firms to adopt policies and practices that reflect what is sometimes called a “sustainable business” or “triple bottom line” approach. “Triple bottom line” refers to the demonstration of strong performance across economic, social, and environmental indicators. Those measures serve as indicators of fiduciary responsibility to a growing set of concerned investors and therefore can help ensure access to capital. They also enable innovators to lower costs, create strategic differentiation, reduce risk, and position themselves for competitive advantage over rivals less attuned to trends.

The deep roots of sustainability thinking are now evident in widespread and increasingly visible activities worldwide, and Sustainability, Innovation, and Entrepreneurship explores this evolution; its necessity, its implications and its progression.

Subject:
Business and Communication
Economics
Social Science
Material Type:
Textbook
Provider:
The Saylor Foundation
Provider Set:
Saylor Textbooks
Author:
Andrea Larson
Date Added:
01/01/2011
Sustainability and Non-Market Enterprise
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CC BY-NC-SA
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The primary goal of this course is to provide a toolset for characterizing and strategizing how nonmarket forces can shape current and future renewable energy markets. The course approaches the exploration and explanation of key concepts in renewable energy and sustainability nonmarket strategies through evidence-based examples. Main topics for the course include: a sociological approach to markets, renewable energy markets, nonmarket conditions, complex systems analysis, and renewable energy technology and business environments. Because renewable energy costs are higher than fossil fuel cost per unit of energy, the main arguments in support of renewable energy, thus far, are functionally nonmarket in character, i.e., environmental (e.g., climate change), political (e.g., energy independence), and/ or social (e.g., good stewardship).

Subject:
Applied Science
Business and Communication
Economics
Engineering
Marketing
Social Science
Material Type:
Full Course
Provider:
Penn State's College of Earth and Mineral Sciences
Author:
Erich Schienke
Date Added:
05/04/2023