...What is Business? Meaning Definitions Features of Business Post : Gaurav Akrani Date : 3/04/2011 10:56:00 PM IST No Comments Lables : Economics What is Business? Meaning Human beings are continuously engaged in some activity or other in order to satisfy their unlimited wants. Every day we come across the word 'business' or 'businessman' directly or indirectly. Business has become essential part of modern world. Image Credits © Mohddeeb. Business is an economic activity, which is related with continuous and regular production and distribution of goods and services for satisfying human wants. All of us need food, clothing and shelter. We also have many other household requirements to be satisfied in our daily lives. We met these requirements from the shopkeeper. The shopkeeper gets from wholesaler. The wholesaler gets from manufacturers. The shopkeeper, the wholesaler, the manufacturer are doing business and therefore they are called as Businessman. Definitions of Business Stephenson defines business as, "The regular production or purchase and sale of goods undertaken with an objective of earning profit and acquiring wealth through the satisfaction of human wants." According to Dicksee, "Business refers to a form of activity conducted with an objective of earning profits for the benefit of those on whose behalf the activity is conducted." Lewis Henry defines business as, "Human activity directed towards producing or acquiring wealth through buying...
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...organisation I am now going to talk about a business for my task. The business that I choose was Cafeeast Oxford, I am going to talk about the relationship between different processes and functions for the organisation. Process – A process is a collection of related tasks introduced in response to an event that achieves a specific result for the customer of the process Function – this is an activity that is natural to or the purpose of a person or a thing. Aims/Goals – In my business, the aim and objective of Cafeeast is to become a recognised business, for this to enable as a business we would need to do more advertising so it can attract our customers which subsequently can spread to the wider community. Also the important thing in a business which is to keep customers happy making sure that they are comfort in their zone while they are waiting for their food to be served. Making a good image on a brand name can gather a lot of potential customers to visit the business. The important thing in a business is to make it the best out of all your competitors to sell high quality products such as fresh food fast which will give the urge to customers to come. Structure – There are three main types of pyramid organisation structures, functional product and matrix. In a functional organisational structure the company arranges its departments by various like, finance, accounting and marketing. The business I choose is a small business which means the organisation structure...
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...Managing Business Activities to achieve results Lecico Egypt Ceramic Task 1: 1.1 evaluate the interrelationship between the different processes and functions of the organization Introduction * Lecico is one of the world’s largest sanitary ware manufacturers and a significant tile producer in Egypt and Lebanon. With over 50 years of operation, Lecico has developed into a major exporter by producing competitively priced sanitary ware to exacting European quality standards. * Today, Lecico is one of the largest suppliers of sanitary ware to Europe and the Middle East. A business process * Is a collection of related, structured activities or tasks that produce a specific service or product for a particular customer or customers It may often be visualized as a flowchart of a sequence of activities with interleaving decision points or as a Process Matrix of a sequence of activities with relevance rules based on data in the process. How do Organizations Improve? * Major changes must start at the top * Ultimately, everyone must be involved * Effective change requires a goal and knowledge of the current process * Change is continuous * Change will not be retained without effort and periodic reinforcement * Improvement is continuous Why Business Process Management? * Symptoms of Poor Business Process Management and Design * No standard process/method for addressing how to define business requirements...
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...Ethical and Socially Responsive Business Morisha Mack Business- 100 Professor Lizzie M. Lewis-Clemons September 2, 2013 Code of Conduct There are many high standards and principles that a business must set in order to be and remain successful. Many companies outline their expectations in a code of conduct. A code of conduct is a document written by a company that defines the ethical standards of the organization and gives employees information on how to handle situations within the organization. It is not only important that a business writes a code of conduct, but it is imperative that the principles are carried out by everyone within the business from the CEO to the employees. “While the primary goal of all businesses is to be profitable, they must also promote ethical and social responsibility throughout their organizations and their corresponding customer and supplier networks.”(Kelly, McGowen &Williams).(2013) Chipotle Mexican Grills’ Code of Conduct Chipotle has a code of conduct that assures its ongoing success. Some of the key components are its Vision Statement and its Anti-Discrimination and Harassment Policies. An organizations’ vision statement expresses its values as well as frameworks operating procedures. Chipotles code of conduct begins with its vision statement and is based primarily on Integrity. “Chipotle is a company based on Integrity. Integrity is about being real and being honest. It means doing the right...
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...Contents Acknowledgement 4 Introduction 5 TASK 01 6 UNDERSTAND THE IMPORTANCE OF BUSINESS PROCESS IN DELIVERING OUTCOMES BASED UPON BUSINESS GOALS AND OBJECTIVES. 6 1.1 6 Evaluate the interrelationship between the different processes and functions of one of the following companies. 6 Interrelationship between supply chain and procurement department and other departments 6 1.2 9 Justify the methodology to be used to map processes to the organization you have selected in question 1.1 goals and objectives. 9 Process identification 9 Information gathering 9 Interviewing and mapping 10 Analysis 10 1.3 11 Evaluate in own words the output of the process and the quality gateway for the company selected in 1.1 11 output of the process 11 Environmental sustainability 11 Quality gateway 12 Task-02 13 BE ABLE TO DEVELOP PLANS FOR OWN AREA OF RESPONSIBILITY TO IMPLEMENT OPERATIONAL PLANS. 13 2.1 13 Design plans which promote goals and objectives for own area of responsibility for internal and external customers for short term and long term plan. 13 Become clear on the result you would like to realize 13 Break objectives into small 13 Determine the objectives for every goal 13 Put your goals and objectives into time frames 14 Review your goals 14 Put your list in a very place that's simply accessible 14 Return to your lists when every time frame 14 2.2 15 Write objectives which are specific, measurable, achievable, realistic and...
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...M&LF3 Manage business processes Overview | What this Unit is aboutThis Unit is about managing business processes to make sure the organisation delivers outputs that meet customers’ needs and stakeholders’ needs, and organisational and legal requirements.Who is the Unit for?The Unit is recommended for middle managers.Links to other UnitsThis Unit is linked to Unit B1. Develop and implement operational plans for your area of responsibility and E17. Outsource business processes in the overall suite of National Occupational Standards for Management and Leadership. | M&LF3 Manage business processes Skills | Listed below are the main generic ‘skills’ that need to be applied in managing business processes. These skills are explicit/implicit in the detailed content of the Unit and are listed here as additional information. * Communicating * Information management * Analysing * Assessing * Presenting information * Influencing * Persuading * Negotiating * Problem-solving * Prioritising * Thinking systematically * Thinking creatively * Reviewing | M&LF3 Manage business processes Performance CriteriaYou must be able to: | 1 Design processes that deliver outcomes based on organisational goals and aims. 2 Ensure processes and resources are sustainable and effective in their use. 3 Identify and provide the resources you need. 4 Take account of influences that may affect and shape how processes work. 5 Link processes so...
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...Overview The IMF works to foster global growth and economic stability. It provides policy advice and financing to members in economic difficulties and also works with developing nations to help them achieve macroeconomic stability and reduce poverty. What we do The IMF promotes international monetary cooperation and exchange rate stability, facilitates the balanced growth of international trade, and provides resources to help members in balance of payments difficulties or to assist with poverty reduction. Membership The IMF has 187 member countries. It is a specialized agency of the United Nations but has its own charter, governing structure, and finances. Its members are represented through a quota system broadly based on their relative size in the global economy. How we do it Through its economic surveillance, the IMF keeps track of the economic health of its member countries, alerting them to risks on the horizon and providing policy advice. It also lends to countries in difficulty, and provides technical assistance and training to help countries improve economic management. This work is backed by IMF research and statistics. Collaborating with others The IMF works with other international organizations to promote growth and poverty reduction. It also interacts with think tanks, civil society, and the media on a daily basis. Organization & Finances The IMF has a management team and 17 departments that carry out its country, policy, analytical, and technical...
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...By Syriah Grossett Unit 37 P1 Task 1 (P1) Explain the ethical issues a business needs to consider in its operational activities What does business ethics mean? Business ethics is a form of applied ethics it deals with ethical rules and principles within a business or commercial context, the various moral or ethical problems that can arise in a business setting, and any special ethical duties or obligations that apply to people who are engaged in commerce, including workers and managers, customers and suppliers, and the larger group of people who have some interest in the business. Ethical issues affect all businesses, if a particular business is becoming a victim of bad ethical problems it could close down because the public perception would be very low. But if a company focuses on good ethical actions like recycling and only buying fair trade produce it would increase their popularity with consumers and boost sales. Tesco Tesco PLC is a multinational grocery and general merchandise retailer. After Walmart, Tesco it is the second-largest retailer in the world measured by profits and the second-largest retailer in the world measured by revenues. It has stores in 12 countries across Asia, Europe and North America and is the grocery market leader in the UK, the Republic of Ireland, Malaysia, and Thailand. Tesco mission statement is 'To create value for customers to earn their lifetime loyalty'. We deliver this through our values, 'No-one tries harder for customers'...
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...And Report Writing Undertake A Business Project And Report The Findings And Recommendations To The Stakeholders Of The Business BUSINESS RESEARCH CASE THE PROBLEM: Your client has recently acquired an existing business however has limited management experience and has done very little research on the business before purchasing it. He is now encountering a number of strategic challenges that seem unsurmountable. He wants to find solutions to the many challenges the business is undergoing. The Client now recognises that the success of his business relies on effective and efficient planning and management of the business work activities. This involves understanding the interrelationship of business processes and the implementation of operational plans, quality, and health and safety systems; and developing the skills needed to design and implement operational systems to improve effectiveness and efficiency to achieve the desired results for the business. The Client now believes that business research and management and leadership expertise are the key to improving the business. He has contracted your management firm with the aim to gain reliable information as a basis for good strategic management and leadership decisions and the expertise to implement these decisions. THE TASK: You are a senior partner in a management firm. Your company provides business research and consultation services to clients. The management firm engages in business research to study and analyze new...
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...other items in safe deposit boxes * sales, distribution or brokerage, with or without advice, of insurance, unit trusts and similar financial products as a “financial supermarket” * cash management and treasury * merchant banking and private equity financing * traditionally, large commercial banks also underwrite bonds, and make markets in currency, interest rates, and credit-related securities, but today large commercial banks usually have an investment bank arm that is involved in the mentioned activities. Types of loan provided: Secured loan - borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan Mortgage loan - money is used to purchase the property Unsecured loan - loans that are not secured against the borrower's assets (e.g bank overdraft) Trade services and finance: Citibank offer a full suite of trade solutions to support your business growth and expansion. Dedicated trade advisors to handle your queries and provide timely updates to your trade transactions Trade services: Full range of trade services from documentary collections to LC advising and confirmation and banker's guarantee Trade finance: Full range of trade financing options to...
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...HUMAN RESOURCE MANAGEMENT INSTITUTE PEARSON BTEC HND IN BUSINESS – HRM/MANAGEMENT UNIT NO: 15 UNIT TITLE: MANAGING BUSINESS ACTIVITIES TO ACHIEVE RESULTS UNIT CODE: J/601/0946 NAME: MOHAMED ABOOBUCKER JAZEER AHAMED ASSIGNMENT TITLE: MANAGING BUSINESS ACTIVITIES Introduction The Managing Business Activities has included term Managing and Business Activities. The Business Activities is any actions undertaken by individuals or companies, such as buying, selling, marketing, or any activity that is engaged in for the primary purpose of making a profit. Business activities can include things like operations, marketing, production and administration. Also known as business operations, Managing Business Activities is, The Business Activities effectively managing by the related parties to achieve the organizational goals and objectives. This module will be cover all over the part of Managing Business Activities with suitable examples. LO1 1.1 Organizational Process Organizing, like planning, must be a carefully worked out and applied process. This process involves determining what work is needed to accomplish the goal, assigning those tasks to individuals, and arranging those individuals in a decision‐making framework (organizational structure). The end result of the organizing process is an organization - a whole consisting of unified parts acting in harmony to execute tasks to achieve goals, both effectively and efficiently. A properly implemented organizing...
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...Managing Business Activities to Achieve Results Edexcel BTEC level 4 in AMS-LONDON College By Lodoisambuu Bazar To Francis Nwofor Table of Content Task 1 1.1. Evaluate the interrelationship between the different processes and functions of the organization 1.2. Identify and justify the methodology you would use to map processes to the organization’s goals and objectives 1.3. Evaluate the output of the process and the quality gateways Task 2 2.1. Design plans which promote goals and objectives for own area of responsibility 2.2. Write objectives, which are specific, measureable, achievable, realistic and time based to align people and other resources in an effective and efficient way 2.3. Implement appropriate systems to achieve objectives in the most efficient way, on time, to budget and meeting organizational standards of quality 2.4. Carry out work activities meeting the operational plan through effective monitoring and control Task 3 3.1. Design systems to manage and monitor quality standards specified by the organization 3.2. Demonstrate quality culture to ensure continuous monitoring, evaluation and development of the process 3.3. Recommend improvements which align with the organization’s objectives and goals and which result in improvements 3.4. Report on the wider implications of proposed changes within the organization Task 4 4.1. Carry out risk assessments as required by legislation, regulation and organizational requirements ensuring appropriate...
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...Amar Al-Salhi ادارة و دعم نشاطات العمل P1 اوصف المهام التي تدعم الاقسام الوظيفية داخل الشركات و وصف كيف تتفاعل هذه الاقسام لتحقيق اهداف الشركة. شركة الكهرباء الوطنية: شركة الكهرباء الوطنية وهي مسؤولة عن نشاطات شبكات النقل والتحكم في المملكة الأردنية الهاشمية. رؤية شركة الكهرباء الوطنية: الارتقاء بمستوى الشركة على جميع الصعد إلى المستويات العالمية بحيث تصبح في مصاف أفضل شركات الكهرباء الإقليمية والدولية. رسالة شركة الكهرباء الوطنية: توفير الطاقة الكهربائية الآمنة, والمحافظة على اعتمادية النظام الكهربائي, واستمرارية تزويد المستهلكين بالطاقة الكهربائية المطلوبة وبأسعار اقتصادية تبعاً للمعايير الدولية ومتطلبات البيئة, وتبادل الطاقة الكهربائية مع الدول الأخرى, وترسيخ العمل المؤسَسي في الشركة, والاستثمار الأمثل للبيئة التحتيَة لشبكة النقل الكهربائي لخدمة المجتمع, والمساهمة في نقل التكنولوجيا, واجتذاب الاستثمارات الوطنَية والأجنبيَة في قطاع الكهرباء, وخلق فرص عمل للكفاءات الوطنيَة. قسم الجودة والسلامة العامة: في مجال التصنيع هي مقياس للتميز أو حالة الخلو من العيوب والنواقص والتباينات الكبيرة عن طريق الالتزام الصارم بمعايير قابلة للقياس وقابلة للتحقق لإنجاز تجانس وتماثل في الناتج ترضي متطلبات محددة للعملاء أو المستخدمين. قسم الجودة والسلامة العامة لشركة الكهرباء الوطنية: قامت شركة الكهرباء الوطنية بالعديد من اإلجراءات الهادفة إلى تطوير العمل وتحسين األداء وتحقيق شروط السالمة العامة والصحة المهنية والبيئة. قسم شؤون المالية و المحاسبة: هي أحد أهم أفرع المحاسبة المختصة بتسجيل وتصنيف وتلخيص وتفسير...
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...normally experienced in a country from the activities from the government and also the government in this situation will make decisions and keeping best interests in mind for people. Government initiatives are when the government can support business through grants and tax reductions. The government have their own initiatives for companies like Asda and these are the health eating and fit for life. These are campaigns that Asda will try to support then try to receive more funding from the government for advertising etc. Also when the government chooses investment finance this then involves selling part of your business shares to an investor. The investor will then take a share of any profits or losses Asda make. The government may change the tax rates up or down in an effort to try an boost the economy. An example of this is VAT which means all non-food will need their labels changing which could potentially increase profitability. `The international monetary fund describes itself as ‘an organisation of 188 countries that works to foster global monetary cooperation. It also works to secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. Legal Impacts The legal impacts are that Asda must follow the law. The legal frameworks is where the business chooses the way it operates. This will determine who has what role and share to the business. It will also determine relationships...
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...Describe the social implications of business ethics facing a selected business in its different areas of activity For this task I am going to use Tesco plc. The social implications for Tesco direct to the actions of the organisation having consequences on society and there are many areas of activity that the business does that have implications on society. Finance Tesco plc. has many subsidiaries one of these is Tesco bank which is a private limited company meaning it is a free enterprise, so it has the freedom to operate for profit competitively without interference from the government and as it loans money to UK residents over 18, the company could choose their own APR rates which is the percentage the customer must pay back on their loans. depending on how these APR rates it could have very beneficial or damaging consequences on society as many families could be in debt and not afford to pay it back so their life style would have to change and then society would change on a whole, however this would look bad on the company and their stores would lose business through the product of bad publicity so they must show that they care about they’re customers by putting reasonable rates. Bribery There could be bribery within Tesco Plc. for an unfair advantage in the market because they could bribe other companies for information or business contracts or even mergers. However this would be unfair and would be a disadvantage to the competition and the company would be winning...
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