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3.4 - Coggle Diagram

- - - - business uniforms
      - A well know figurehead as a role
        model
      - Ceremonies, rituals and customs
        e.g. awards evenings
      - The training culture e.g induction
        and on-going
    - - Core organisational values, e.g. sta
        wellbeing
      - Workplace procedures, e.g. meeting
        etiquette
      - Business specific language e.g. calling
        workers 'team members' or 'partners'
      - Decision making approach
  - - - Have a 'can do' attitude and are enthused by their work
      - Have a strong belief that the business is a force for good
    - - A 'them and us' attitude may exist between workers and management
      - Employees may doubt the sincerity of the corporate mission
      - High levels of staff turnover and low commitment amongst sta may exist
  - - - Power lies with those with task-related skills
      - Teams are created and dissolved as projects are started and completed
      - emphasis on adaptability and teamwork
    - - individuals with extensive experience and skills are loosely brought together
      - These individuals have significant levels of power to determine their own decision making procedures and often work autonomously
      - common in professional services such
        as accounting and law
    - - decision-making is carried out by one or a small number of powerful individuals
      - A competitive atmosphere between workers vying for power
      - Most communication is by personal contact
      - Few rules exist to determine decision-making procedure
    - - key decisions are made by those with specic job roles
      - Power lies with those with particular job titles rather than those with desirable skills
      - clear hierarchical structure
      - Employees are expected to adhere to rules and understand their place in the hierarchy
      - may find it difficult to adapt to rapidly changing
        market conditions
  - - - Family-owned businesses are more likely to take a longer-term approach
      - Large public limited companies are likely to adopt a shareholder approach
  - - - Increase productivity
      - Improve innovation and creativity
      - Face a particular challenge
      - Follow the direction of a new leader
- - - - Employees
        
        have job security and be compensated fairly for their work and have a safe working environment
      - Managers and Directors
        
        They want to meet the company's goals and objectives while maximise profits and minimise costs while ensuring that the company operates efficiently
      - Business owners
        
        They will want all, or a share of the profit and will want the business to be succeed
    - - Customers
        
        receive high-quality products or services at a fair price
      - Shareholders
        
        maximise their returns on investment
      - Suppliers & creditors
        
        to pay what it owes promptly and in full
      - The local community
        
        for the business to have a positive impact on the community
      - Local and national government
        
        promote the public good and protect the interest of citizens
      - Pressure groups
        
        promote a specific cause or
        agenda
  - - - likely to decrease profits as competing stakeholder needs may require solutions that involve increased costs (e.g. meeting employees' needs by paying higher wages will increase salary costs)
      - but will be more socially accepted by media and customers
    - - Maximising profits in order to increase dividends and improve the share price
- - - - maximise short term profit
      - prioritise short term supply contracts
      - invest less in human resources ( training)
      - pursue rapid external growth rather than organic
      - maximise returns to shareholders
      - problems caused =
        
        Loss of profitability and competitive edge as lucrative long-term opportunities are ignored in favour of short-term priorities
        
        produce and analyse very regular financial reports means that
        managers lack time to consider longer-term corporate strategies
        
        Reliance on short-term contracts with suppliers and workers is likely to lead to higher than necessary costs as benets such as bulk buying discounts cannot be achieved
      - minimise research and development investment
    - - Conducting ongoing investment in research and development, innovation and new product development
      - less emphasis on frequent financial reporting
      - Valuing and investing significant resources into the recruitment, training and retention of staff
      - Establishing and nurturing meaningful and lasting relationships with suppliers
  - - - process
        
        analyse data & ideas
        
        make an evidence based decision
        
        gather data & ideas
        
        implement the decision
        
        identify and set objectives
        
        monitor and review decision
    - - more risky but may required in certain circumstances
        
        Where quick decisions need
        to be made
        
        Where the nature of the industry means that subjective decisions are normal (music / fashion)
        
        Where there is a lack of data to support evidence-based decision-making or where data conflicts