1. Planes Financieros Introduction to Management and Finance (Ph6012) M. en I. Alejandro Flores M. Instituto Mar de Cortés Week 3

2. Planes Financieros Introduction to Management and Finance (Ph6012) M. en I. Alejandro Flores M. Instituto Mar de Cortés DYNAMISM  Week 3 CHANGE idea Person  CHOICE

3. Planes Financieros Introduction to Management and Finance (Ph6012) M. en I. Alejandro Flores M. Instituto Mar de Cortés THE THREE DIMENSIONS OF CHOICE Week 3 Cultural Emotional Rational Dimensions of choice (PURPOSE) Culture is the default dimension of a choice If I don’t consciously choose, then culture makes the choice for me.

4. Paradigm change Planes Financieros Introduction to Management and Finance (Ph6012) M. en I. Alejandro Flores M. Instituto Mar de Cortés Sub optimization Game change Week 3 The evolution of the game Inertia Imitation

5. Planes Financieros Introduction to Management and Finance (Ph6012) M. en I. Alejandro Flores M. Instituto Mar de Cortés Week 3 Imitation Inertia Sub optimization Game change

6. Planes Financieros Introduction to Management and Finance (Ph6012) M. en I. Alejandro Flores M. Instituto Mar de Cortés Week 3 The Global Markets

7. Planes Financieros Introduction to Management and Finance (Ph6012) M. en I. Alejandro Flores M. Instituto Mar de Cortés Week 3 What is a market ?

8. Planes Financieros Introduction to Management and Finance (Ph6012) M. en I. Alejandro Flores M. Instituto Mar de Cortés Week 3 Defining “global” The Nokia Cell phone Example Headquarters @ Salo Presence in 150 different countries Distribution and sales. Main components made in: Certifications by:

9. Planes Financieros Introduction to Management and Finance (Ph6012) M. en I. Alejandro Flores M. Instituto Mar de Cortés Week 3 A market is a social structure for exchange of rights, which enables people, firms and products to be evaluated and priced. *Source: http://en.wikipedia.org/wiki/Market According to Wikipedia*: Markets are formed from two MAIN elements (but not the only ones): DEMAND SUPPLY

10. Planes Financieros Introduction to Management and Finance (Ph6012) M. en I. Alejandro Flores M. Instituto Mar de Cortés Week 3 What is a competition? In economic terms… key concepts… The 3 “E”s Efficiency, effectiveness and effectivity. Production of goods/services  sold in markets Customer satisfaction Continuous improvement

11. Planes Financieros Introduction to Management and Finance (Ph6012) M. en I. Alejandro Flores M. Instituto Mar de Cortés Week 3 The 3 “E”s … difference Efficiency …in resource managing. *Avoiding dead time, non used resources Effectiveness … in the achievement of goals *The minimal cost/least number of unplanned consequences to achieve a goal. Effectivity. … to generate an impact in the environment * Having the desired effect…

12. Planes Financieros Introduction to Management and Finance (Ph6012) M. en I. Alejandro Flores M. Instituto Mar de Cortés Week 3 Example for the 3 E’s. Efficiency (Eficiencia) Effectiveness (Eficacia) Effectivity (Efectividad) Kill a fly with…. X X