Sinopsys of Theodore Levitt

Theodore's life

Levitt was born in 1925 in Vollmerz. A decade later his family moved to Dayton, Ohio. He served in World War II, received his high school diploma through correspondence school and then earned a bachelor's at Antioch College and a Ph.D. in economics at Ohio State University. His first teaching job was at the University of North Dakota.

In 1959 he joined the faculty of the Harvard Business School. Later that year, he became world renowned after publishing Marketing Myopia in Harvard Business Review where he asks "What business are you in?", a phrase that demands one account for the significance of the job one does.

He is a four-time winner of the McKinsey Awards competitions for best annual article in the Harvard Business Review; winner of Academy of Management Award for the outstanding business books of 1962 for Innovation in Marketing; winner of John Hancock Award for Excellence in Business Journalism in 1969; recipient of the Charles Coolidge Parlin Award as "Marketing Man of the Year," 1970; recipient of the George Gallup Award for Marketing Excellence, 1976; recipient of the 1978 Paul D. Converse Award of the American Marketing Association for major contributions to marketing and recipient of the 1989 William M. McFeely Award of the International Management Council for major contributions to management.

Financie Glossary

• Joint action: Title value that represents the economic rights of an investor in a company's share capital. Each common share entitles all their holders equal rights.
• Shares outstanding: subscribers and paid shares that are held by investors.
• Preferred shares: title property value that takes precedence over the common shares in connection with the payment of dividends. These actions dividend rate is fixed at the time of issue and can be fixed or variable.
• Bank acceptance: order written and accepted by a bank to pay a sum determined at a future date.
• Current assets: set of accounts of a company's assets that anticipate its conversion into cash within less than a year. They are usually constituted by box and banks, accounts receivable, inventories, etc.
• Fixed assets: permanent assets that are typically required for carrying out the usual turn of a company. They are usually constituted by machinery, equipment, buildings, land, etc.
• Financial assets: assets that generate financial returns.
• Intangible assets: intangible, type such as patent assets.
• Ad valóren: tariff established as a percentage of the value of the invoice for the goods.
• Depreciation: Partial or full payment of the principal of a loan.
• Linear depreciation: depreciation in which each method is deducted a fixed amount of the obligation.
• Regression analysis: statistical method for estimating the behavior of a variable based on the record of other variables.
• Sensitivity analysis: simulations of scenarios through which seeks to observe the changes in the model results based on variations of your main variables.
• Anti-dumping: Legal action to protect domestic markets from unfair competition from abroad, for the use of prices that do not cover production costs.
• Annuity: Stream regular funds and the same amount during a certain number of periods.
• Financial leverage: Ratio of total debt to total assets. Proportion of the total assets has been financed with loans.
• Exchange rate appreciation: movement toward the low exchange rate expressed as a number of national currency per unit of foreign currency. Also known as exchange rate revaluation.
• Tariff: Tariff of tax that a tax on the import or export of goods and services.
• Arbitration: Process by which can be very short term gains for the simultaneous existence of different prices for the same product, in the same or in different markets.
• Leasing: financing mechanism for the acquisition of fixed assets through a contract of lease with purchase option. Provides regular contributions that can cause major tax incentives that finance the purchase of the asset by debt.
• Operating lease – rental of goods where the contract not stipulates terms of purchase option at lease end. Not exieste the intention of buying good but its temporary use.
• Risk aversion: term referring to the situation in which an investor, exposed to alternatives with different levels of risk, prefers one with the lowest risk level.
• Balance of payments: accounting expression which reflects transactions of a country with the rest of the world, as also the accumulation of international currency reserves over a given period.
• Balance of trade: State of the activity of international transactions of goods from a country - balance between exports and imports over a period of time which is usually a calendar year.
• Bankruptcy: State of insolvency of an individual or a company in which there is no ability to pay its obligations as they were originally agreed.
• Corporate Banking: Set of financing and other services that a bank offers companies.
• Personal Banking: Financing activities and services of a bank to meet the needs of the individual.
• Central Bank: Official institution of the national management of liquidity and the means of payment in the economy.
• Second floor Bank: Bank that channels e financing operations

Exercise week 2 - Describe 3 products of the bank

The products of the bank are there:

Internet Services

The Internet is a global system of interconnected computer networks that use the standard Internet Protocol Suite (TCP/IP) to serve billions of users worldwide. It is a network of networks that consists of millions of private, public, academic, business, and government networks, of local to global scope, that are linked by a broad array of electronic, wireless and optical networking technologies. The Internet carries a vast range of information resources and services, such as the inter-linked hypertext documents of the World Wide Web (WWW) and the infrastructure to support electronic mail.

Credit Card



A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services. The issuer of the card creates a revolving account and grants a line of credit to the consumer (or the user) from which the user can borrow money for payment to a merchant or as a cash advance to the user.

A credit card is different from a charge card: a charge card requires the balance to be paid in full each month. In contrast, credit cards allow the consumers a continuing balance of debt, subject to interest being charged. A credit card also differs from a cash card, which can be used like currency by the owner of the card. Most credit cards are issued by banks or credit unions, and are the shape and size specified by the ISO/IEC 7810 standard as ID-1.

Insurance

In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the insurance; an insured, or policyholder, is the person or entity buying the insurance policy. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.



Anglia activities week 1

Anglia Club Online