Intro to Business Management
The 4 Business Functions
Human Resources, Operations Management, Finance and Accounts, Marketing
This sector is state-owned and controlled. It provides essential goods and services.
Public Sector
These are the long-term goals of an organization, often expressed in the organization's mission statement. They are a general statement of an organization's purpose and intention and tend to be qualitative in nature.
Aims
Any individual or group that affects an organisation or is affected by it.
Stakeholder
This is an organization set up to raise money to help people in need or to support causes that require funding
Charity
These are the 4 inputs/factors of production
Land, Labour, Capital and Enterprise
This type of organization is found more commonly in less developed nations
External Factors in a SWOT analysis that the company cannot control themselves
Opportunities and Threats
This type of stakeholder has less influence due to it not formally being a part of the company
External stakeholder
These consist of individuals with a common concern (such as environmental protection) who seek to place demands on organizations to act in a particular way or to influence a change in their behaviour.
Pressure Groups
This sector involves businesses that generate and share information. Examples include information technology, R&D, consultancy and scientific research.
Quarternary Sector
An Annual General Meeting between shareholders is most common in:
Corporations
A reason for organizations setting ethical objectives
Developing workforce, Improving marketing, Preparing for the future, or avoiding damaged publicity
Employees can do this when they feel as if they need representation in the company
takeover of privately owned corporations, industries, and resources by a government with or without compensation.
Nationalization
Businesses combine combine human, physical and financial resources to create goods and services in order to do this
Satisfy the Needs and Wants of Customers
Having better tax benefits compared to other company structures is a feature of being:
A Limited Company
Something that is decided by senior management and not easy to reverse
Strategies
Loss of motivation may lead to conflict between:
Managers and employees
Someone within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through using 'entrepreneurial talents' such as risk-taking and innovation.
Intrapreneur
The contents of this are: The business, the product, the market, the finance, the personnel, and the marketing
Business Plan
A co-operative(a group of people acting together to meet the common needs and aspirations of its members, sharing ownership and making decisions democratically) is most commonly seen in this industry:
Agriculture
The riskiest market strategy in Ansoff's Matrix
Diversification
When a bank decides to fund a business, it is the business' responsibility to:
Ensure the repayment of principal and interest of loans
this concept applies to those businesses that consider the interests of society by taking responsibility for the impact of their decisions and activities on customers, employees, communities and the environment.
Corporate Social Responsibility