comm 387 telecom management – Flashcards
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defining management
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process of accomplishing organizational goals through the coordinated and efficient use of scarce human and material resources
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POMC
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Planning, Organizing, Motivating Controlling
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Management skills
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basic competencies needed by managers
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management functions
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tasks performed by managers
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management roles
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"personas"assumed by managers as they interact with different internal and external constituencies
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3 Roles
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Interpersonal- Figurehead, Leader, Liaison Informational Decisional- Entrepreneur, trouble shooter, resource allocator, negotiator
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Information chain production chain
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production Aggregation, Distribution Transmission, Distribution Consumption
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defining a "market"
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-Geographic Region -product -Mode of delivery or platform
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dual product markets
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advertising funded markets produced two "products", content and audiences
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monopoly
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one producer, local cable and phone companies (often)
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Oligopoly
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few producers, Major tv Networks, major film studios.
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pure competition
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many producers, products are not perfect substitutes.
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monopolistic competition
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many producers, not subs. -music industry and artists.
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ways of measuring monopoly power
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CR4, CR8, Hirschman- Hirfindahl index
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Market share
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firm revenue divided by industry revenue
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calculations for CR4 and CR8
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top 4 and top 8 just add up numbers or market share,
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HHI
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hirschman hirfandel index sum of the squared products of market share. so 25=625, 15=225, if a market share exceeds 1350 it is considered oligopolistic
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collusion
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price fixing
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pure competition
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requires no product differentiation and no barriers to entry otherwise monopoly or oligopoly may result
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monopsony vs oligopsony
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only one buyer for a product, and only a few buyers for a product
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Costs
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fixed=initial startup costs that does not change level of output variable= costs that increase directly as output increases total=sum of fixed and variable costs marginal costs= additional costs to increase output by the smallest possible increment average costs=total cost divided by number of units by output
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media products
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have high first copy costs and low reproduction costs. -producers have an incentive to repurpose media to other forms like dvd's and tv called windows
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strategic alliances
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- formal mergers and informal alliances. -
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syndication
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selling the right to air something on broadcast television
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scientific management
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frederick w taylor ergonomics
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administrative management
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henri fayol management as a process; which follows rules
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fayols 14 principles
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Organizational structure -division of work, unity of command, centralization Treatment of workers - equity, initiative, fair renumeration Obligations of workers - discipline, subordination of personal interest
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bureaucratic management
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max weber hierarchy, control, seniority, policies and procedures, merit based
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HR school
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elton mayo -attention from managers improves morale and productivity
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maslows hierarchy
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physiological, safety, social, self esteem, self actualization
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herzbergs hygiene and motivation factors
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Hygiene- (External) salary, labor conditions, company policy Motivators- (internal) what employees get out of work, achievement, recognition, advancement
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theory x and y
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Doug McGregor -X emhpasis on authority and control -Y integrating needs of worker and firm
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Theory Z
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William Ouchi -employees take an active approach to work
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operations management
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emphasis on math and stats forecasting, inventory controls, beakeven analysis
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drucker
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management and MBO management by others
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reengineering
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putting together multifunctional teams customized solutions for clients
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classical school
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focus on the structure and process based on engineering, sociology
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behavioral school
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focus on people based on psychology
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management sciences school
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focus on computers and process control
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modern management school
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focus on outcome based on systems theory and organizations
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lotteries
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cannot broadcast, with some exceptions like state sponsored lotteries and non profits
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payola
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unreported payment of money for broadcasting a program
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plugola
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undisclosed on air promotion of activity in which station or employee has an interest
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code of ethics
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-for professional bodies such as journalists, lawyers, and doctors -could be enforced through membership requirements, example american medical association, but has no legal standing
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mission statements
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-for any business, example psu -may include business objectives and service targets in addition to ethical guidelines -has no legal standing, but can be enforced internally.
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the golden mean
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no extremes
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categorical imperative
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what if everyone did the same?
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utilitarianism
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the greatest good of the greatest number
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egalitarianism
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choose actions that even the worst off would accept
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relativism
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the individual decides
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social responsibility
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be aware of the impact of your actions
