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This lecture explores the essential functional competencies in business management, covering R&D, operations, marketing, finance, and human resources. Learn about the purpose and hierarchy of R&D, developing integrated R&D value chains, operations strategy in globally networked production environments, digital operating models, marketing in the physical-digital era including the 4Ps framework, granularity of sales, product-market grid analysis, financial leadership principles, key financial goals, human resources leadership, and how organizational structures need to evolve in modern business contexts.
