Pages 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 390 391 392 393 394 395 396 397 398 399 400 401 402 403 404 405 406 407 408 409 410 411 412 413 414 415 416 417 418 419 420 421 422 423 424 425 426 427 428 429 430 431 432 433 434 435 436 437 438 439 440 441 442 443 444 445 446 447 448 449 450 451 452 453 454 455 456 457 458 459 460 461 462 463 464 465 466 467 468 469 470 471 472 473 474 475 476 477 478 479 480 481 482 483 484 485 486 487 488 489 490 491 492 493 494 495 496 497 498 499 500 501 502 503 504 505 506 507 508 509 510 511 512 513 514 515 516 517 518 519 520 521 522 523 524 525 526 527 528 529 530 531 532 533 534 535 536 537 538 539 540 541 542 543 544 545 546 547 548 549 550 551 552 553 554 555 556 557 558 559 560 561 562 563 564 565 566 567 568 569 570 571 572 573 574 575 576 577 578 579 580 581 582 583 584 585 586 587 588 589 590 591 592 593 11844 result(s) returned

Conclusion

This free course provided an introduction to studying the arts and humanities. It took you through a series of exercises designed to develop your approach to study and learning at a distance and helped to improve your confidence as an independent learner.


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Understanding and managing risk
This free course, Understanding and managing risk, provides an introduction to financial risk management. The processes of risk identification, risk measurement and risk management are explored. The course then goes on to examine reputational risk and operational risk. It concludes with an examination of the subject of behavioural finance and what this can contribute to our understanding of risk taking and risk management.Author(s): Creator not set

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Employee engagement
Engagement is a key buzzword in 21st century management. Strategic human resource management rests on the belief that people are the key to achieving competitive advantage. Employees need to be seen as assets to be developed, not costs to be controlled. This free course explores three key themes: employee engagement, employee involvement and collective aspects of employee relations.
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4.13.2 Example: an ‘intelligent’ email system

Let us work through an email example of making a system ‘smarter’. We are all familiar with the standardised fields in an email system: From, To, Subject. The computer needs the To/From information, expressed in a standard format, to direct the message to its addressees and allow them to reply. It has no concept of who the sender and recipient are, or what the Subject field means. We can imagine simple knowledge-level email categories which add status information to t
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4.13 Technologies and explicit knowledge

Knowledge-based systems have the ability to analyse specific kinds of information in order to take action. Since we have earlier defined knowledge as arising out of the interpretation of information as mediated by representations, we can claim that in a limited sense such systems can ‘know’ things: they have a representation of part of the world, and they have some rules that allow them to analyse that representation, from which they can decide on a course of action. In that sense, they h
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2.5 Design implications

The difficulties just described have very practical implications when it comes to designing technologies. Consider the following quotations:

in selecting any representation we are in the very same act unavoidably making a set of decisions about how and what to see in the world …

a knowledge representation is a set of ontological commitments. It is unavoidably so because of the inevitable imperfections of
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2.2 Standardised products

While Theodore Levitt's (1983) classic article about the globalisation of markets accepted that there are fundamental disparities across different local contexts that have to be accommodated (for example, Japan's auto exporters had to adjust to the fact that the USA and continental Europe, unlike Japan, drive on the right), he argued that there was an underlying uniformity in human tastes. Levitt's vision of the globalisation of markets was that it created opportunities for firms to offer glo
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Conclusion

The aim of the first section was to introduce you to the concept of the market-led approach to marketing (also referred to as pan-company marketing or marketing orientation) and to differentiate it from ‘marketing department marketing’. I used examples and case studies to make you think about the applicability of this concept to commercial (for-profit) and non-profit organisations, and gave you activities to help you apply it in your own organisation.

Five of the learning outcomes w
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4.3.2 Operational excellence

Companies that pursue this [value discipline] are not primarily product or service innovators, nor do they cultivate a deep one-to-one relationship with their customers. Instead, operationally excellent companies provide middle-of-the-market products at the best price with the least inconvenience. Their proposition to customers is simple: low price and hassle-free service.

(Treacy and Wiersema, 1996)


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4.2 Narrowing the focus

Offering a unique value proposition involves designing a value-driven operating model. This is a combination of operating processes, management systems, business structures and culture that will give the organisation the ability to deliver superior value. The value-driven operating model is the means of delivering the value proposition.

Organisations that are market leaders have value-driven cultures and management systems that treat all employees as ‘part-time marketers’ (Gu
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2.4 Marketing as a management process

This last definition is the one that most modern marketing writers support. Piercy (1997) makes a distinction between ‘marketing plan marketing' – the activities that traditional marketing departments do – and the concept of ‘going to market’ – a much more general management issue. He writes:

‘Marketing’ belongs to marketing specialists but ‘going to market’ is a process owned by everyone in th
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Learning outcomes

After studying this course, you should be able to:

  • describe the difference between marketing as a function and the concept of being market led

  • evaluate whether an organisation is market led

  • evaluate the relevance of marketing concepts to organisations, whether commercial (for-profit) or non-profit

  • identify customers and consumers

  • list the tangible and intangible elements of products and services.


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1.2 Working abroad

The extract from a newspaper article in Example 1 provides insight into the problems of working abroad.

Example 1

Working abroad is often considered the chance of a lifetime. Living and working in a foreign country with all expenses paid; what more could anyone want?


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4 Conclusion

This unit looked at the question of whether the financial markets are efficient in the sense that prices demanded are fair and reflect all known and relevant information about investments. The Efficient Markets Hypothesis defines such efficiency at three levels, depending on how much information is in fact incorporated into prices. The weak form states merely that the current price already reflects all information incorporated into previous prices, so that each successive price move is a reac
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Keep on learning

Study another free course

There are more than 800 courses on OpenLearn for you to
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5 Conclusion

In a financial context, risk is a synonym for uncertainty – the possibility that the actual outcome will differ from the mean expected outcome. It is therefore a neutral rather than a negative concept. Investors are risk-averse in the sense that they require more return for taking on more risk. Risk itself is measured by the standard deviation of actual returns around the mean expectation. In the real world, investment risk is created by a number of different factors that affect the certain
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1 What does ‘life sciences’ mean?

During the twentieth century, particularly in its second half, the provision of human healthcare changed significantly because of scientific and technological developments. Before then, medical practice was limited and scarcely differentiated from other trades; in fact, barbers often acted as surgeons or dentists. Throughout the 1900s, there were major advances in most countries in sanitation, nutrition, vaccination, surgery, medicines and medical devices. At the same time, there was an incre
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2.1 Exercising judgement

To understand how we make decisions, it is useful to start with the ways in which we make judgements about information we are presented with. Let's start this course with an activity designed to get you exercising judgement. The answers are at the end of the questions but please arrive at your own answers before checking them!

The questions in this activity are adapted from Bazerman (1998).


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Keep on learning

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There are more than 800 courses on OpenLearn for you to
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