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1. Business Organization, gantt chart diagram - Coggle Diagram

- - - - Vision
        
        Definition of Vision: expresses that goal in order to inspire everyone involved with the firm. Vision statements are often somewhat idealistic
      - Mission
        
        Definition of Mission: Mission statements complement vision statements by explaining what the organisation does, right now, at the present time, in order to achieve its vision.
    - - Aims are broad and general goals that the organization would like to accomplish
      - Objectives are more specific and to be completed in a shorter time horizon
    - - Specific: The objective should be clear and focused
      - Measureable: Quantitative objectives are easier to manage and fulfill
      - Attainable: The target should not difficult or it will demotivate employees
      - Relevant: An objective assigned to an individual employee should relate to his job, so that it is within his control to meet it.
      - Time specific: The time horizon for accomplishing the objective should be defined
    - - Strengths
        
        HR: Highly trained, skilled and educated
        
        Finance: Strong finances, adequake capital
        
        Marketing: Strong brands, loyal customers
        
        Operations: Mordern Facilities, efficient, low cost production
      - Weaknesses
        
        HR: Poor management, unskilled, unqualified
        
        Finance: Inadequate financing, cash flow problems
        
        Marketing: Low brand awareness and brand loyalty
        
        Operations: Outdated facilities, inefficient, high cost production
    - - Environment: Many organizations are going beyond existing legal requirements for environmental protection
      - Community: Many corporations support the communities where they operate by financially sponsoring local charities, clubs and events.
      - Labour relations: Employees rights are protected by laws and regulations
      - Supplier relations: Companies may refuse to work with suppliers who do not treat their workers fairly
    - - Ansoff Matrix
        
        Increasing risk goes further downwards are outwards represented by the red arrows
      - Existing markets and new markets are on the left column
      - Existing products and new products are on the top column
      - Potential Growth Strategies:
        
        Market Penetration
        
        The market penetration strategy is usually considered the least risky growth strategy as it often does not entail making large investments
        
        Product Development
        
        involves selling new products in the organisation’s existing market, often to existing customers
        
        Market Development
        
        involves selling existing products to new customers
        
        Diversification
        
        onsidered the most risky growth strategy, as it involves selling new products in a new market
    - - Developing a talented and productive work force: Treating employees well is likely to improve motivation, morale, and productivity
      - Improving marketing: Being a good corporate citizen can have advantages in terms of markeing
      - Preparing for the future: Many corporations that are the most forward thinking in terms of environment objectives and practices hope to prepare themselves for changes in economics or regulations that may seem inevitable
- - - - Purchasing
        
        Larger corporations buying from suppliers in bulk will be able to negotiate lower prices
      - Managerial
        
        Larger corporations will more likely attract specialised professionals who can provide expertise that can help improve the company
      - Financial
        
        Large corporations can negotiate lower interest rates in loans
        
        Banks will more likely give loans to corporations as compared to sole traders
      - Marketing
        
        Larger corporations may be able to negotiate lower prices for more airtime
      - Technological
        
        Investing in new technology to help make production/sales more efficient and effective
  - - - Managerial issues
        
        Corporation is too big
        
        Conflicts of interest between levels of hierarchy
      - Increase in size of workforce
        
        Employees are not apart of decision-making - feel unimportany
        
        Employees feel alienated - motivation goes down
      - Communication breakdown
        
        Chain of command is too long
        
        information takes very long to reach employees
  - - - Managers & employees
      - Marketing
      - Regulations
      - Competitiors
      - Financing
      - Economies of scale
        
        Limited potential for Eos
- - - - Advantages of a Sole Trader: Get all the profit, makes all the decisions has all the control, relatively easy to set up
      - Disadvantages of a Sole Trader: All the cost and risk are on the indivual
    - - Advantages of partnerships.
        
        Easier to raise funds as a partnership
        
        Confidentiality
        
        More parters more expertise
        
        silent partnerships: provides funds and benefits, but not the running of the business
      - Disadvantages of partnerships
        
        Unlimited liability
        
        conflict between partners
        
        profit must be shared
        
        finances constrained to the number of partners
      - 1.2.4 Other types of Partnerships:
        
        Public private partnerships
        
        Public Private Partnerships
        
        Advantages
        
        Ensure the necessary investments into public sector and more effective public resources management
        
        Ensure higher quality and timely provision of public services
        
        Mostly investment projects are implemented in due terms and do not impose unforeseen public sectors extra expenditures
        
        Disadvantages
        
        Infrastructure or services delivered could be more expensive
        
        PPP project public sector payments obligations postponed for the later periods can negatively reflect future public sector fiscal indicators
        
        PPP service procurement procedure is longer and more costly in comparison with traditional public procurement;
    - - Advantages of corporations
        
        limited liability
        
        independent legal identity
        
        can raise large funds by selling shares
        
        death or change in ownership does not largely affect the business
      - Disadvantages of corporations
        
        administratively difficult and expensive to create
        
        potential for conflict of interest due to large numbers
        
        financial accounts must be published
        
        selling shares dilute ownership
      - 1.2.4 Other types of corporations
        
        Cooperatives: organisation that is owned by its members who come together to work towards a common interest. Cooperatives are run democratically, with members having a say in important decisions.
        
        Advantages
        
        straightforwards, inexpensive
        
        All members are at stake, increasing chances of success
        
        democratic, equal voting rights
        
        governments may provide financial assisatance
        
        Disadvantages
        
        difficult to attract potential members and shareholders
        
        limited resources as financial strength is dependent on member contributions
        
        members may not be highly motivated as profits are split thin
        
        large number can equal inefficiency
        
        some members that have larger responsibilities still only have one vote
        
        Microfinance:
        make financial services available to individuals whose needs would otherwise not be met by traditional financial institutions like banks.
        
        Advantages of Microfinance
        
        allows those in poverty to become financially independent
        
        entices entrepreneurship
        
        economic responsibility
        
        Disadvantages to Microfinance
        
        earning profits from the poor can be seen as unethical
        
        small scale, inefficient in transforming communities and societies
        
        Public Limited: Public Limited Companies are able to advertise and sell its shares to the general public. Usually on the stock market
        
        Advantages of public limited companies: Greater access to capital, limited liability, there is no legal number of shareholder so more investors can become shareholders.
        
        Disadvantages of public limited companies: Shareholder may disagree, share holder are unevenly distributed, shareholder might not get much say (depends on the number of shares they own)
        
        Private limited: Advantages of a private limited company: Stocks are sold to family members who are more trust worthy then investors on the stock market, business
        
        Advantages of a private limited company:
        
        Stocks are sold to family members who are more trust worthy then investors on the stock market, business
        
        Shares bought without preexisting agreement between owners
        
        more finances
        
        Disadvantages of a private limited company:
        
        the debt is shared with the family that runs the business or the small shareholder group,
        
        personal belongings can be lost, stocks cannot be sold to other people on the stock market which means there is less funding.
        
        Non-governmental organisations (NGOs) are non-profit organisations that usually state their purpose or mission as benefiting society or the environment.
        
        Advantages of NGOs: They have the ability to experiment freely with innovative approaches and, if necessary, to take risks. They are flexible in adapting to local situations and responding to local needs and therefore able to develop integrated projects, as well as sectoral projects.
        
        Disadvantages of NGOs: Paternalistic attitudes restrict the degree of participation in programme/project design. Restricted/constrained ways of approach to a problem or area.
        
        Charities: Are non-profit social enterprises that provide voluntary support for good causes
        
        Advantages of a charity: tax relief, funding, public trust and recognition
        
        Disadvantages of a charity: restriction and requirements depending on country or state laws, no equity investment, unpaid board
- - - - Interests: Working environment, salary, employment security, participation in business and conditions of employment
    - - Interest: Decision-making power, dividends/profit, share price and
        security of investment
    - - Interests: Employment security, salary and benefits offered
  - - - Interests: Working environment of employees.
    - - Interests: Speed of payment, fairness of treatment, health of company.
    - - Interests: Job creations, tax payment, impact on society/economy.
    - - Fairness about prices they also gain if the do a strategic alliance
    - - Wants cheaper products
    - - Care about individual interests -payment of debts
- - - - Political factors relate to how the government intervenes in the economy.
        
        tax policy
        
        labour law
        
        environmental law
        
        trade restrictions
        
        tariffs
        
        political stability
    - - deciding factors on whether your business is legitimate or not
        
        safety law
        
        employment law
        
        consumer law
        
        labour law
        
        health law
        
        discrimination law
    - - refers to the natural environment.
        
        quality and quantity of available fresh water
        
        climate change
        
        recycling and disposing of waste products
    - - factors that help a company to decide what is a good or bad business deed
        
        morality
        
        duties
        
        behaviour
        
        integrity
    - - considers the business’ business cycle.
        
        eg. businesses will respond to improving living standards by adapting their product offerings.
    - - refers to part of a company’s competitive environment.
        
        Commercialisation of affordable personal computers
        
        emergence of the internet and mobile phones
        
        tablets and smartphones.
    - - relate to the way people live and what they believe and value.
        
        religions
        
        cuisine
        
        family
        
        life
        
        demographic
        
        healthcare
- - - - Physical (raw materials etc)
      - Human (people required to run a business)
      - Financial (funds needed to set up & invest in a business)
      - Enterprise
    - - Goods - physical
        
        cupcakes, petrol
      - Services - intangible
        
        education, healthcare
  - - - ransforming raw materials into finished or semi-finished products (processing, manufacturing)
    - - delivery of services such as education, health care, travel and tourism
    - - extracting raw material from the earth (eg. fishing, mining)
    - - Engaged in the creation or sharing of knowledge and information
- - - - advantages
        
        enable managers to review all tasks and find the most efficient order for successful completion
        
        detailed planning of chart helps to ensure that schedule is achievable
      - disadvantages
        
        for projects that require many tasks the chart can become very complex
        
        does not offer a good solution when dealing with the triple constraints of time, cost and scope
      - a visual representation of a project's schedule in which a series of horizontal lines shows the amount of work planned in certain periods of time
    - - advantages
        
        reduces opposition and resistance to change
        
        helps to identify people most affected by change
      - disadvantages
        
        analysis may not result in a consensus among the group - could cause a division in the group between those who support and oppose an idea
        
        in most cases the analysis is based on assumptions not facts - so the interpretation of evidence can not be seen as an objective
        
        forcefield analysis diagram
      - an analytical process used to map the opposing forces within an environment, such as a business, where change is taking place
    - - advantages
        
        consider all avail options
        
        identify costs, benefits and probabilities for each option
      - disadvantages
        
        does not take qualitative factors into account
        
        misleading as estimates seem reliable
      - visualisation of complex information to make decisions in the face of uncertainty. it is used to integrate probabilities
    - - advantages
        
        visualisation of complex problems
        
        simple to use and understand
      - disadvantages
        
        does not provide a solution
        
        does not rank in terms of importance
      - determines the origin of the problem it is a visual tool useful in brainstorming