Features of Business Management and Organization

Business Environment Individual

1. 0 Advantages to organization

1. 1 What's an organization?

Managers are the ones who operate in group. Organization can be an specific or group of men and women that collaborate to accomplish certain commercial goals that its customers would be unable to reach independently. Every business have a management framework that determines romantic relationships between the several activities and the members, and subdivides and assigns roles, responsibilities, and authority to handle different tasks. Organizations are open systems in that they influence and are affected by the surroundings beyond their limitations. So according compared to that organization should have pursuing features.

Vision

A assertion of what a company wishes to perform throughout its operations. It is a declaration of an company's goals for the midterm or long-term future

E. g. :- Apple Corporation's Vision-

"To produce a contribution to the entire world by making tools for your brain that progress humankind. "

Mission

A assertion of the purpose of a company, organization or person, its reason for existing.

E. g. :- Unilever's mission-

"To add Vitality alive. We meet everyday needs for nutrition; health and personal treatment with brands that help people look good, feel good and get more out of life. "

Objectives

A specific result that a person or organization aims to achieve in just a time frame with available resources.

E. g. :- Unilever goal is to increase their profit by 35% end of the entire year 2014

Goals

An observable and measurable end result having a number of objectives to be achieved within a far more or less fixed timeframe.

E. g. :- Unilever goal for 2020

  • To improve health and well-being, reduce environmental impact and source 100% of your agricultural recycleables sustainably and improve the livelihoods of people across our value chain.

Values

Value statements define the organization's basic idea, ideas and ideals. in addition they set the moral firmness for the organization.

1. 2 Organisation categories

There are other ways to categories the organizations. We can divide organizations in to three types as characteristics, legal form and by size (Body 01).

(Shape 01- Organization Categories) Sole Trader

A business owned or operated by one individual is a lone proprietorship. Within a sole proprietorship, the dog owner invests capitol, makes all decisions, and will get all gains. Owners in a sole trader however may have significantly more difficulty than greater organizations obtaining loans. More significantly, exclusive traders are in person liable for their money if their businesses are unsuccessful. A purpose of an Sole Trader is to give a service for a client and charge to the service.

Partnership

Partnership is the relation between the folks who have agreed to share the profits of a business carried on by all or some of them acting for all or an enterprise owned by several people can also be a relationship. The partners discuss the duty for financing, working and managing the business enterprise. Usually income are divided compared to the money that each partner has committed to the business enterprise.

Private limited company

Private companies main purpose is increase the revenue; these organizations are had by shareholders by purchasing company shares, there may be minimally one shareholder and maximally fifty shareholders in the business. Profit and loss will be shared between shareholders at the business general meeting. The company should be named their company name along with (PVT) Ltd term.

2. 0 Stakeholders of your organization

The people and organizations that contain a pastime in the strategy of the business are called stakeholders. Stakeholders normally include shareholders, customers, personnel and the neighborhood community.

(Figure 02- Stakeholders)

2. 1 Stakeholders of the D-MAC Bookshop

2. 3 Stakeholder Analysis

What is stakeholder research?

Stakeholder examination is methodology of systematically gathering and studying qualitative information to ascertain whose pursuits should be taken in to account when developing and /or putting into action a policy or program. And this can be done by using the stakeholder mapping.

Stakeholder mapping

2. 4 Identifying the key stakeholders of D-MAC Bookshop

  • Managers
  • High salaries
  • Profit maximization
  • Bonuses
  • Job security
  • Status and progress of the business
  • Employees
  • High pay
  • Job security
  • Pleasing the customers
  • Promotion prospects
  • Job satisfaction and motivation
  • Customers
  • Safe and reliable products
  • Value for money
  • Innovation
  • Product availability
  • Customer service
  • Suppliers
  • A long term romantic relationship with the firm
  • Prompt payment
  • Frequent and regular orders
  • Large size and value of contracts
  • Growth of the business
  • Competitors
  • To compete by all lawful means
  • To differentiate its products
  • Keeping up with innovation

If an organization must achieve the goals and targets with efficiently and effectively, first of all the business have to satisfy the targets of stakeholders. So group has to do something to attain it. Those the following,

Employees

  • Speak to them respectfully
  • Make attract full remuneration packages
  • By giving bonus offer and other allowances
  • By adding medical and entertainment allowance
  • Providing job securities

Customers

  • By providing quality products.
  • Providing products regularly.
  • By presenting truthful information about their products.
  • By giving discount rates and gift ideas.
  • Providing other customer services.

Government

  • By paying taxes & other payment correctly
  • And provide some really helps to government sector

3. 0 Responsibilities of an organization

4. 0 Economic systems

"Economic climate is an planned way in which a state or region allocates its resources and apportions goods and services in the national community" a world in which all humans desires are instantly fulfilled is hard to imagine. Successful resources are limited while human wants are unrestricted. Scarcity occurs] because individuals wants exceed the levels of creation possible with the limited time and resources that are available. Because of the scarcity every country needs a system to determine how to work with its recourses productively. There three basic questions that must solve by any financial system.

Three basic economical problems-
  1. What to produce? -what varieties of goods and services should be produced
  2. How to produce? -what successful resources are being used to create goods and services
  3. For whom to create? -who gets to have the goods and services

The way a culture right answers these questions decides its monetary system. You will discover tree economic systems.

  1. Command Economy
  2. Free Market Economy
  3. Mixed Economy

4. 1 Order or planned Economy

Economic system where the government largely decides what goods and services will be produced, who will have them and the way the economy will increase. Where the means of development are stake managed and the allocation of resources are maintained by centralization.

What to create? - The goods and services produced in a command economy are those which the government authorities choose to create to produces.

How to create? - The federal government chooses the technique of production it can escort resources including labor, to whatever activity it chooses

Whom to produce? - The end result of economy is allocated in what the government recognizes fit. E. g. : it could try to send out goods and services equally to be able to minimize inequality.

4. 2 Free Market Economy

Economic system in which decisions about what to produce and in what quantities are chosen by the marketplace, that is, by buyers and vendors negotiating prices for goods and services. Where the competitive interaction of several producers and consumers without any intervention of by federal, provide the pushes of demand and supply which allocate resources through the price mechanism.

What to create? - Generally there is an economic incentive for the company to choose to produce the most profitable goods and services and these will be those that are in higher demand.

How to create? - There is an incentive for organization to find the development method which is minimal costly and therefore is the most profitable.

Whom to create? - People who get the products and services stated in a free of charge market are those who are will and in a position to pay the purchase price for them.

4. 3 Mixed Economy

Economic system where allocation of resources is made by the marketplace and some by the government. Where resources are allocated by an assortment of free market segments and government treatment. Simply in such a type economic there is the occurrence of private economic flexibility and centralized planning with the goal of avoiding the problems associated with both economic systems.

5. 0 Government of UK

Economy of UK changes each year. Matching PWC publication in UK their economy has grown high in days gone by year and they are looking to keep that growth in 2014 as well. The government of UK control buttons the economy in various ways. Firstly through the legal standard issuing by parliament that creates new laws and regulations. One other way is through design of subsidies that induce goods and services for people. And thirdly through taxation.

5. 1 UK Federal Policies

Every government have their own aims and objectives to carry out their financial system. mains goals in UK authorities are improve the economic growth, to keep up full career, to stabilize exchange rates, control the inflation also to improve the quality lifestyle of individuals in the country. To achieve these main aims the federal government uses two main strategies.

  • Fiscal policy
  • Monetary policy

5. 2 Fiscal Policy

Fiscal policy is the utilization of government spending and duty policies to energize or long term contract macroeconomics activity. This includes taxation and how government adjusts its costs. fiscal insurance plan changes in the taxing and spending of the government for reason for expanding or contacting the level of aggregate demand.

5. 3 Monetary Policy

The activities central bank, currency mother board or other regulatory committee that determine the scale and rate of progress of the amount of money supply and interest rates. This includes rates of interest and credit handles.

5. 4 The impact of Fiscal and Monetary policy on business organizations

In UK monetary policy is managed by the lender Of England. Regarding to Loan company of England economic coverage called as monetary stability. Monetary balance means secure prices and self confidence in the money. Secure prices are described by the government's inflation focus on, which the lender looks for to meet through the decisions delegated to the monetary policy committee, explaining those decisions transparently and putting into action them effectively in the amount of money markets.

In England fiscal policy is called as financial balance. Financial stability entails detecting and reducing risks to the financial system as a whole. This is pursued through the bank's financial and other operations, including lender of last resort, oversight of key infrastructure and the surveillance and policy jobs delegated to the financial plan committee.

In UK largely fiscal policy and monitory insurance policies have an affect on organizations. By fiscal insurance policy federal government is influencing business by receiving taxes.

E. g. :- tax, vat, BTT,

By monitory plan the central loan company will raise the interest for the deposits, then government will get increasingly more money, they will raise the interest rate for loans, then organizations won't going to barrow lending options from the lender likewise government effect the organizations, and some of sociable responsibility will influence a business.

6. 0 Types of Market Structures

Market structure is utilized to describe the amount of buyers and vendors operating in a market. The magnitude to which the market is concentrated in the hands of a tiny numbers of buyers and/or sellers and the degree of collusion or competition between clients and/or sellers. We can identify four types of market structures

1) Perfect Competition - Perfect competition is market structure where competition reaches its greatest possible level. There are large numbers of buyers and sellers, and none begin effect prices.

2) Monopoly- a firm that is the lone producer of a best for which there are no close substitutes.

3) Oligopoly - are sectors dominated by a few businesses whose decisions are strategically connected; obstacles to entry tend to be significant

4) Monopolistic Competition- requires easy accessibility and exit directly into industries where many potential suppliers compete vigorously with producers of close, however, not perfect replacement for their "brand- name" products

According to the above mentioned information following desk can be explain the types of market composition.

Perfect

Competition

Monopoly

Oligopoly

Monopolistic

Competition

No. of Firms

infinite

one

many

few

Product Type

Homogeneous

Unique

Homogeneous or Differentiate

Differentiate

Freedom of Entry

Unrestricted

Restricted or blocked

Restricted

unrestricted

Control over

Price

None

Total

Significant

Some

Size of Firms

Small

Large

Small

Very large

Profit

Normal

Economic profit.

Short & long run

Losses on track economic in short &long run

Economic in short run normal over long run

Implications

For demand curve

Horizontal

(price taker)

Downward sloping more inelastic than oligopoly

Downward sloping relatively inelastic

Downward sloping but relatively elastic

Possible consumer demand

Highly elastic

Highly inelastic

Inelastic

Elastic

6. 1 Charges and result decisions of market structures

Generic office materials, most agricultural and few relatively homogeneous goods are made by Perfect Competitive markets. Each buyer or seller is too insignificant to solo handedly affect the full total demand or supply of the goods. There performing as price takers in the forex market they haven't any choice but to accept the price set in the market. The demand is flawlessly flexible in perfect competition. The producer tires to sell goods for a high price he won't be in a position to sell because other rivals also reselling for the same price. The demand curve of monopoly market slops down; prices will be inversely related to variety demanded. Any organization with market electricity must lower its price to sell more if it can charge only one price at time. Market vitality is a firm's ability to alter the price tag on its productivity because of insufficient competition or too little perfect substitutes because of its products.

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