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Management
Prof : Christiane Bode, INSEAD management, energy ?
Office hours : Mondays, 4-5 pm, 4th floor, B2-O1
Christiane.bode@unibocconi.it
TA : Francesca Rizzi, Francesca.rizzi@unibocconi.it (responsible for
projetcs)

1. Global introduction
there is one and only one social responsibility of business-to use it
resources and engage in activities designed to increase its profits Milton
Friedman

never mind P/E : 5 great ROE stocks Forbes

organic vs acquisition : wich way to grow? Forbes

what is management ?
lead, solve and anticipate responsible

leading a team and its resources while being aware of your actual
responsibilities and anticipating the challenges of tomorrow

textbook definition : a range of decisions (2 times : now and its

consequences) associated with the acquisition (technical progress) ,
allocation (eco concept about the use of resources and production factors
in order to satisfy at short and long term the needs of consummation and
population) and integration of resources (human, physical, financial)
required to perform a certain economic activity (action that involves the
production, distribution and consumption of goods and services at all
levels within a society)

economic activity :
Technical transformation : eg transformation of raw, data and
materials (big data + statistic ) education, consulting
Transactions : financial exchanges, base of commerce
Support activities : facilitating transformation and transaction

Why do we engage in economic activities ?

Perform ? goals
Are motivated to engage in activities because doing so fulfils a need
Need as a lack of something , most dangerous people : already satisfied or
no goals

Maslows hierarchy of needs :

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not a triangle
3 poles, Proust sick and doing his book not the norm
can be on the top and wanted another things (advertising)

goods can satisfy needs, capitalism basis : can all needs be satisfied with
goods ? (especially tops needs in Maslows classification eg friends
file:///Users/Jules/Documents/Amiti aritote .docx)

people needs goods and services

Goods :
Economics Non-economic

Car Fresh air (not always) rainwater

(illegal to collect, companies have
been trying)

Primary Non primary = time dependant

Drink and eat Big bottle in nightclub, 10 houses
similar but really fast in this category such
as TV not similar

Complementary Substitues
Only fulfil a need when combined Moto vs car (not exactly) = fulfil
eg printer or ps4 or razor or the same needs, depends on
nespresso, being cool ? the use
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Differentiable
Variety of kinds (suits)
Better because of the possibility of
being new (by the quality)
personalize, luxury, distinction
Commodities
Same features (water provider, net
provider) break the market
(differenciation by the price) no
competition

Private Publics
Oil shell Military, justice

Consumer Non consumer