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How is your preparation for Business paper 1 tomorrow?
- Thread starter Sijan92
- Start date
Questions...help needed:
Q. what a business needs to succeed?
Q. Qualities an entrepreneur is likely 2 need 4 success?
Q.*** advantages and disadvantages of family business?
Q. **** Mintzbeg's roles of Management
please help needed esp in ** questions....please
any help wud be appreciated....please
Q. what a business needs to succeed?
Q. Qualities an entrepreneur is likely 2 need 4 success?
Q.*** advantages and disadvantages of family business?
Q. **** Mintzbeg's roles of Management
please help needed esp in ** questions....please
any help wud be appreciated....please
okkay, i would answer them serially
1. Finance, profit, a steady market, skilled staffs and workers
2. Experience, skills, knowledge, has to be smart to make proper decisions
3. Adv- Families are more commited to their business. Dis- family values are considered above business values resulting to inefficiency.
4. Motivation, Communication, representation of the organization, seeking for opporuinities and threats, choosing between various alternatives
1. Finance, profit, a steady market, skilled staffs and workers
2. Experience, skills, knowledge, has to be smart to make proper decisions
3. Adv- Families are more commited to their business. Dis- family values are considered above business values resulting to inefficiency.
4. Motivation, Communication, representation of the organization, seeking for opporuinities and threats, choosing between various alternatives
IS THIS ENOUGH 4 Mintzbeg's roles of Management
Theory on Organizational Forms
The organizational configurations framework of Mintzberg is a model that describes six valid organizational configurations:
Entrepreneurial organization
Machine organization
Professional organization
Diversified organization
Innovative organization
Missionary organization
Regarding the coordination between different tasks, Mintzberg defines the following mechanisms:
Mutual adjustment, which achieves coordination by the simple process of informal communication (as between two operating employees)
Direct supervision, is achieved by having one person issue orders or instructions to several others whose work interrelates (as when a boss tells others what is to be done, one step at a time)
Standardization of work processes, which achieves coordination by specifying the work processes of people carrying out interrelated tasks (those standards usually being developed in the technostructure to be carried out in the operating core, as in the case of the work instructions that come out of time-and-motion studies)
Standardization of outputs, which achieves coordination by specifying the results of different work (again usually developed in the technostructure, as in a financial plan that specifies subunit performance targets or specifications that outline the dimensions of a product to be produced)
Standardization of skills (as well as knowledge), in which different work is coordinated by virtue of the related training the workers have received (as in medical specialists - say a surgeon and an anesthetist in an operating room –responding almost automatically to each other’s standardized procedures)
Standardization of norms, in which it is the norms infusing the work that are controlled, usually for the entire organization, so that everyone functions according to the same set of beliefs (as in a religious order)
Theory on Organizational Forms
The organizational configurations framework of Mintzberg is a model that describes six valid organizational configurations:
Entrepreneurial organization
Machine organization
Professional organization
Diversified organization
Innovative organization
Missionary organization
Regarding the coordination between different tasks, Mintzberg defines the following mechanisms:
Mutual adjustment, which achieves coordination by the simple process of informal communication (as between two operating employees)
Direct supervision, is achieved by having one person issue orders or instructions to several others whose work interrelates (as when a boss tells others what is to be done, one step at a time)
Standardization of work processes, which achieves coordination by specifying the work processes of people carrying out interrelated tasks (those standards usually being developed in the technostructure to be carried out in the operating core, as in the case of the work instructions that come out of time-and-motion studies)
Standardization of outputs, which achieves coordination by specifying the results of different work (again usually developed in the technostructure, as in a financial plan that specifies subunit performance targets or specifications that outline the dimensions of a product to be produced)
Standardization of skills (as well as knowledge), in which different work is coordinated by virtue of the related training the workers have received (as in medical specialists - say a surgeon and an anesthetist in an operating room –responding almost automatically to each other’s standardized procedures)
Standardization of norms, in which it is the norms infusing the work that are controlled, usually for the entire organization, so that everyone functions according to the same set of beliefs (as in a religious order)
Socialenterprise: A b. with mainly social obj that reinvests most of its profits into benifiting the society rather than maximizing the returns to its owners
TBL: 3 main obj of b.:
-Planet
-People
-Profits
How business objectives change over time?
A business may change its objectives over time due to the following reasons:
A business may achieve an objective and will need to move onto another one (e.g. survival in the first year may lead to an objective of increasing profit in the second year).
The competitive environment might change, with the launch of new products from competitors.
Technology might change product designs, so sales and production targets might need to change.
TBL: 3 main obj of b.:
-Planet
-People
-Profits
How business objectives change over time?
A business may change its objectives over time due to the following reasons:
A business may achieve an objective and will need to move onto another one (e.g. survival in the first year may lead to an objective of increasing profit in the second year).
The competitive environment might change, with the launch of new products from competitors.
Technology might change product designs, so sales and production targets might need to change.
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any one has tips for tommorow???
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an idea on some expected question for tommorow