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Ali Alanazi
Class: BUCP-597-9F1-Policy & Strategy-2023SP
Instructor: Dr. Arthur C. McAdams
April 17, 2023
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1)The world population is currently at 8.028 billion people.
The countries that have the most people are:
1 China
1,439,323,776
2 India
1,380,004,385
3 United States
331,002,651
2)The value of the annual global economy is $104 Trillion
3)The countries with the largest annual GNP are :
1) United States. $23 trillion
2)China
$ 16 trillion
3)Japan.
$ 5 trillion
4)The majority of US GNP is generated by Finance, insurance and real estate sector.
5)US companies with the largest market cap are
1)Apple. $2.6 trillion
2)Microsoft $2.1 trillion
2)Alphabet $1.4 trillion
6) Scientific method is the process of establishing facts through experimentation and testing. The
steps in the scientific method include seeing, forming a hypothesis, making a prediction,
conducting an experiment, and finally analyzing the result.
7)The Peter Drucker Six steps of decision making include Situation, Objective, Alternatives,
Consequences, Decision, and Implementation.
8)Stakeholders are any people, groups or companies that have an interest in a business venture or
project and can be impacted by it. Examples of investors, employees, customers, and
government.
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9)The most important stakeholder in any business venture is the customer. They are the source
and the determinant of success.
10) The lifecycles of a product are introduction, growth, maturity, and decline. Introduction stage
is when the product is first introduced to the customer. The growth stage is the period of demand
from the customer. Maturity is when the product is profitable when revenue exceeds cost.
Decline is when the market share of the product begins to decline. The lifecycle is affected by
factors such as technology, innovation and changing customer tastes.
11)Clayton’s Christensen theory of disruptive innovation describes the process by which a
product takes root in simple applications at the bottom of the market and them moves up the
market.
12) The porter's five forces are Threat of new entrants, Bargaining power of buyers, Bargaining
power of suppliers, Threat of new substitutes, and Competitive rivalry.
13) Boston Consulting Group product portfolio classification include dogs, cash cows, question
marks and stars.
14) Value proposition entails target market, customers, products and the process.
15) First mover, Fast follower, Adopter, Laggard and Luddite describes the types of adopters for
products
16) Systems thinking in game theory is described as that way of understanding the system as
a network of complex relationships rather than a collection of distinct parts.
17)Strategy is the plan for achieving a certain goal. It is important because it details the steps s
that will be used to achieve the goal.
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18) The mission and vision statements are statements that are concise, inspiring and clearly state
the values and the direction of the company.
19)Being strategic means planning and having a clearly defined way of action. Being
opportunistic means waiting for things just as they are and then taking advantage of the
situations.
20) SWOT analysis is examining Strengths, Weakness, Opportunities and Threats in a company.
In a TOWS , the analysis entails examining Threats and Opportunities first and then moving to
Weaknesses and Strengths. PESTLE analysis involves examining Political, Economic,
Sociological, Technological, Legal and Environmental factors that affect a business.
21)Advantages of centralization include increased control, accountability and it becomes easier
to work towards one goal. The disadvantage of centralization is that there is reduced creativity
and inflexible decision making.
Advantages of decentralization include flexible decision making and increased creativity. The
disadvantages include the lack of control, accountability and this complicates the focus on the
goal.
22) Quality management is the overseeing of the activities and actions that must be undertaken to
conserve quality, value and excellence. The quality gurus are Joseph Juran, W Edwards Deming,
and Armand Feigenbum.
23)Corporate dashboards are a visual representation of the company to monitor its progress and
trends. The Balanced Scorecard is a material that is used by companies to identify and improve
any internal functions and external outcomes.
24)Efficiency is used to refer to how well something has been done while effectiveness sis used
to refer to how useful that thing is.
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25) The efficiency trap is used to refer to the endless desire to get more things done and, in this
process, people end up taking up extra work and tasks.
26) There is always a tradeoff, and a person should always decide. Fast and good = expensive
while Cheap and fast = low quality.
27)Leadership is about setting goals and ensuring that they are achieved. Management is about
the role of controlling the group to achieve an objective. Governance is about accountability and
ensuring organizations are run in an effective manner. Leadership is most important because it is
about influencing people to achieve the goals.
28)Vital executive duties include planning managerial actions, overseeing daily operations,
coming up with strategies for the companies, evaluating accountability and measuring
performance.
29)Corporate social responsibility is the accountability of the business to the stakeholders,
especially the public. The Triple Bottom Line is a metric that focuses on three areas which are
the people, profits, and the planet. Environmental, social, and corporate governance entails
evaluating the needs and generating value for all the business stakeholders.
30)I will measure the value of my life depending on whether I achieved my goals. Some of the
goals that I will use to measure the value of my life include education, family and career goals.
`If I achieve these goals, I will consider myself to have achieved the maximum value of my life.