Private sector Public sector Is a government owned business, and a private sector Is a privately owned business. E. G. Private-Bunting’s Public-health safety Enterprise -A project or undertaking, typically one that is difficult or requires effort. -Initiative and resourcefulness. Investment -The action or process of investing money for profit or material result. -A thing that is worth buying because It may be profitable or useful in the future. Economy-The wealth and resources of a country or region, esp.. In terms of the production and consumption of goods and services.
Summaries:Owners/Shareholders: Own a equines runs. Managers: People who are employed on behalf of its owner, to over look the succession of the business. Limestone/Lenders: Individuals, financial institutions or even other businesses who are able to fund the business. Public Sector: Government owned businessperson Sector: Privately owned boisterousness’s: Initiative and resourcefulnesslnvestment: Putting something within a business with the intention of getting something out of detection: Wealth and resources of an entire countertenors/Shareholders:A business is the property of it’s owner’s.
The owners receive profit from the business. Shareholders usually have shares for large businesses hoping for a rise in the share price. Managers:Employed to direct the business on behalf of its owners. Managers do not normally receive a share of the profits and business. Instead they are paid a salary in return for their managerial work. Some may benefit from a bonus and profit sharing schemes or packages linked to the performance of the business. Investors/ lenders: Whether small of large, business owners can raise funds through external investors – individuals, financial institutions or even other businesses. In terms of impasses, additional investments can also be sought from the owners of the company – the shareholders. Outside investors therefore have a stake in the business’s performance. Employees:Staff have a stake in organizational performance, including the business’s profitability. The work environment, opportunities for employees and Job security are all dependent on business viability.
Because of the link between profitability and employment levels, the trade union movement also shares the interest of employees and employers in terms of organizational performance. Suppliers:Businesses buy inputs from other businesses. These include:Plant (buildings)Raw materialsEnergyComponentsMachinery and equipment’s ovoviviparous outsourced services (egg. Maintenance, marketing)The suppliers of these inputs have a financial stake in an ongoing flow of orders and reliable payment from the buyer; they, therefore, have a strong interest in the continuing viability of an organization to which the make sales.
Customers:The goods and services produced by businesses are bought and used by customers who may be individuals or even other organizations. Customers have a stake in performance that delivers products of acceptable price and quality for their repose. Government:Governments of all political parties recognize that the country’s standard of living is closely tied to business performance. Successful businesses not only provide Jobs and generate wealth; they also contribute to the government’s taxation revenue.
All three levels of government in Australia are important players in promoting and supporting business performance, with the federal government usually having the highest stakes because of its impact and influence on broad economic conditions. Local Community:May communities have a substantial stake in business performance n their local area. Large organizations provide employment and training; supply goods and services that might otherwise be difficult to obtain; and are often part of the community life. International Community:The international community is increasingly seen as a stakeholder in business activities and the octal responsibility of large organizations. It has a stake in large organizations behaving as good ‘global corporate citizens’ and will, when necessary, express concerns about pricing, climate change, natural resource use (sustainability) and employment practices. There is a great degree of interdependence between these stakeholders in rage businesses – they rely on one another in many ways. However, there is also potential for tension and conflict arising from their different interests and perspectives.
For example, in the case of pay levels, there is often tension between owners or managers against employees or unions. Despite both groups having a stake in organizational performance and profitability, industrial conflict can occur over how the fruits of business success are divided. Conflict can also exist between managers and customers over Value for money. ‘ For example, the direct stake of managers and owners in profit can lead to cost-cutting which sometimes improvises product quality or safety of customers.
I * 7th of February 2013 * Business organization and management * Business Goals * The first business goal is to make a profit. Provide some type of need or desire. Businesses in the modern day wish for their business to change or benefit the world. * “Goals are communicated in an organizations mission, value and vision. ” * “Managers and employees develop strategies and ensure that the goals and objectives are achieved. ” * * What are our objectives? * What are our strategies to achieve those objectives? * What changes are required within the organization to achieve those objectives? Plan simulation for Avoidance”) * Objectives: * -Better network service around Australia * -More client benefits * Strategies: * -Build more towers * -partner with other stores (5% off all recharge at any Coles and 7-eleven stores) * Impact: * -More customers are satisfied with the benefits 8th of February 2013 Goals, Values and Mission Mission and values: “A simple and brief statement that outlines the reason the business exists, which is usually accompanied with a list of values” Vision: “A vision that a company/business strives to achieve in the future” Self mission statement: To love God and all of his creations.
To bring Glory to his name, and have fun doing so. But to make a positive impact in the world, before its all over. A vision is only a vision when there is a plan otherwise its Just a hallucination. Objectives, Specific steps that are need to be achieved in order for the vision to become a reality. 3 questions for the business Reasons for establishment? Challenges in the business Problems with the business? Distinguish between the concepts of efficiency and efficiency? Effectiveness: The degree to which something is successful in producing a desired result Efficiency: a state or quality of being efficient.
Effectiveness is the how successful the business is (achieving objectives) Efficiency is how well the business runs in terms of resources and cost production. * What is the purpose of performance indicators (Kepi’s)? The purpose for the KIP system is to show whether or not the employees are working as required. And to benefit both the business and the employees, to keep the business running as most efficient as possible, and the employees working to the best of their ability, with the inclination of rewards. What is the word benchmarking mean, and how does it relate to the business world?
What they do? The RASPS remains an independent animal welfare charity, striving to educate the community on its responsibilities and continuing to protect and enhance the welfare of animals. * What does it do with its profits? All profits made by this business will help provide support to animals in need on the Gold Coast. -improving the welfare of their local community -providing rewarding work opportunities to employees -protecting and maintaining the environment -helping the unfortunate -providing a 21st, 25th of February 2013 C.