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Management - Coggle Diagram
Management
NOT-FOR-PROFIT ORGANISATIONS
Require revenue
Incur expenses
Consists of people
Must be ‘managed’
Produce a product or service
Strive to satisfy consumers
Two types
Charities
Tax exempt
not to extract profit
Staffing
Volunteers
Paid staff
below market rates
market rates
Government organisations
goods/services
Merit goods
Public goods
value maximisation
Exist for taxpayers’ benefit
strict budget
Funded through tax
key to success is produtive
INCORPORATED ORGANISATIONS
Legal entity
Limited Liability
Grow greater investments
Entice investors
Types of Incorporated Organisations
Private
Shares
owned by private individuals
N/A for the public
Public
Shares
purchased through stock exchange
a consequence of growth
Advantages
Limited Liability
Access to greater capital
Disadvantages
Legal Constraints
Weak asset base
Limit funding sources
Not entitled to 100% profits
Management (hierarchy)
Mid-management
Directors
CEO/ MD/ GM
Chairperson
Shareholders
Employees
Social Responsibility Management
rules and regulations restricted
Two views
classical view (conventional)
socio-economic view (sustainable)
determining how organizations fits
THE EXTERNAL ENVIRONEMNT, STAKEHOLDERS & MANAGEMENTOF ORGANISATIONS
Stakeholders
internal group
external groups
affect organisational outcomes
The external environments
General
legal and pollical
social culture
economy
technology
global
demographic
Specific
suppliers
competitors
consumer
public pressure groups
Non-incorporated organizations
unlimited liability
minimum documentation requirements
sole proprietors
limited skill set
lesser captial
fast decision making
poor economies of scale
boss of himself
high profit
partnership
wide skill set
shared capital
agreements in decision making
legal contract as binding agreement
shared profits
termination if partner is lost
division of tasks