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Business Studies - People (Job titles (Managing Director (Directs and…
Business Studies - People
Departments in a business
Accounting and administration
Recording and reporting the cash flow transactions
Personnel
Attracting, maintaing and motivating employees
HR
Maximisation of an organisation's productivity via the optimisation of its employees effectiveness
Marketing
Promotes business and drives sales of its products/services
Sales
Plans, organises and administers sales
Purchasing (procurement)
Buys all the materials, components and supplies with the benefit of bulk buying
Production (operations)
Plans, organises and carries out the manufacturing of the firm's product
Job titles
Managing Director
Directs and supervises the activities of staff
Operations Director
Assists upper management in setting goals that promote company growth
Personnel Director
Develops organisation strategies by identifying and researching HR issues
Marketing Director
Looking after your company's image and brand and also standing within the market place
Sales Director
Looking to grow the business, responsible for sales which go towards making profit
Company Secretary
Must ensure the company complies with legal and financial rules applying to it and has a robust corporate governance structure
Finance Director
Providing strategic and financial guidance to ensure that the company's financial commitments are met
ICT Director
Managing information-technology / computer systems
Types of employment
Flexible working
Suits an employee's needs
Temporary work
Person only works for a short period of time for an employer
Working from home
People working partly at their place of work and partly at home
Working whilst mobile
When people work while they are on the move
Self-employed
When people work as their own business selling their work to buyers who may be consumers or other businesses
Part time
Less than 35 hours a week
Full time
35 hours or more a week
Organisational structure
Firms are either organised either by functions/departments or products
Information travels both ways, however directions only travel down the hierarchy
Flat hierarchy
Typical of smaller businesses
Advantages
Promotions are a large progression
Employees feel equal
Increased delegation
Speeds up communication
Disadvantages
Increases span of control
Less promotion opportunities
Tall hierarchy
Advantages
Narrower span of control - not as many subordinates
Many promotion opportunities which will motivate workers
Disadvantages
Communication takes longer
Leadership and management styles
Authoritarian
Advantages
Very clear directions
Decisions made quickly
Close supervision ensures quality standard
Disadvantages
No consultation, little delegation
Lack of responsibility / trust may be demotivating
Workers may not feel valued
Appropriate business
Something very detailed or precise such as engineering, factory work, production processes
Democratic
Advantages
Workers are motivated as their voices are heard
Workers understand decisions being made
Gets views of people nearest the customer
Disadvantages
May not be best decision for the business
DEcisions take long to make
Objectives and policy are best decided by the board of directors and senior managers
Appropriate business
Small businessses where communication is easy, creative-type or team production
Paternalistic
Advantages
Workers are motivated as their voices are heard
Workers understand decisions being made
Decisions right for the business more likely to be made
Disadvantages
If leader overrides majority view - backlash
Over identification with leader (very rare)
Appropriate business
Something detailed and precise such as engineering, factory work, production processes
Laissez-faire
Advantages
Those who run the business day to day know how to work effectively better than a manager
Motivated by feeling of responsibility and trust
Leaders can delegate
Disadvantages
No clear direction, poorly defined role or goal
Potential loss in efficiency
May not be hard-working without clear tasts or close supervision
'Cliques' starting
Appropriate business
Where people are highly skilled/competent, high expertise
Very motivated workforce
Motivation
Financial
Wage
Based on an hourly rate
Salary
Based on yearly figures
Time rate
Payment for each hour worked to complete a job
Over time
Payment when a job cannot be completed in the normal time ; higher rate than normal usually
Piece rate
Payment for the number of products finished ; encourages speed over quality
Bonus payments
Extra payments if a job is finished early or by a specified deadline
Commission
Low basic wage plus a percentage of the value of items sold / made
Performance related pay
A form of payment by results, where pay is linked to achievment of targets
Profit sharing
Extra payments based on company profit levels over a given period
Fringe benefits
More likely to be received by managers than workers ; company car, private healthcare etc
Non-financial
Praise
Award schemes
Working conditions
Job rotation
Good promotional opportunities
Motivation theories
Taylor
'a fair days pay for a fair days work'
Mayo
When workers are personally satsisfied, communicated with well, have an input and work together, they are more productive
Biased towards management, could create jealousy especially as it assumes that everyone has the same goal
Maslow
Believed ina hierarchy of needs : Basic needs, safety needs, social needs, esteem needs, self actualisation
Herzberg
Hygiene factors are the bare minimum to be met, they don't incentivise, they only dissatisfy if present : 'Do we like being around here' and work conditions
Motivators are additional and can motivate workers : Advancement, personal growht, status
McGregor
Theory X
Workers can't be trusted or relied upon, and must be heavily supervised and instructed
Theory Y
Workers can be trusted and relied upon to work well of their own accord, they take initivate and enjoy responsibility
Recruitment and selection process
Why recruited
Replace employees who leave
Enable business growth
Reduce skills gaps within the business, need for 'new talent'
How recruited
Needs analysis (Determining the HR requirements)
Task / Activity analysis
Skils analysis
Role analysis
Performance analysis
Methods of recruitment (Mostly external)
(Internal) A noticeboard, word of mouth, emails etc
Employment agencies
Recruitment agencies
Job centres
Internet recruitment
Social media
Visiting schools / unis
Newspapers
Specialist magazines
Word of mouth
[Things to be considered about each method]
Expensive?
How long it takes?
Wide pool of people?
Selecting the right person for the job
CV
Application form
Letter of application
Shortlisting
References
Interview
Testing
Group activities and Assessment centres