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This document discusses different types of information and communication methods used in business. It describes primary, secondary, internal, and external sources of information and written, verbal, pictorial, graphical, and numerical forms of communication. The document also discusses how ICT can improve communication through methods like email, fax, video conferencing, and the internet. Managers must choose the appropriate communication method based on factors like whether a message is short or long, urgent, or being sent internationally.Standard Grade Business Management - Operations
Operations involves transforming inputs through production processes to create outputs for consumers. Production managers make key decisions about what to produce, how to produce it, and where to produce it. They also manage relationships with suppliers and control stock levels to meet demand while minimizing costs. Businesses use various techniques like quality control, quality circles, and total quality management to ensure high quality outputs.
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There are several ways to measure success in business, including achieving profit and sales goals, having good relationships with stakeholders and the community, leading innovation through new ideas and discoveries, achieving growth through expansion or mergers, providing high quality products and services, efficiently managing resources to maximize profits, gaining large market share, and achieving financial targets like profits or breaking even. These measures of success tie into the objectives of different types of organizations.
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Standard Grade Business Management - Business Location
When deciding on a business location, companies must consider several important factors:
- Access to raw materials, skilled labor forces, transportation infrastructure and potential customers all impact a location's viability.
- Costs like rent, wages and transportation must be weighed against location benefits such as local grants, tax incentives and an existing supplier network.
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Standard Grade Business Management - How Do Businesses Start?
There are several ways for businesses to obtain financing both internally and externally. Internally, businesses can generate financing through reinvesting profits, selling assets, or an owner investing savings. Externally, common sources include loans, overdrafts, leasing agreements, trade credit, issuing shares or debentures, small business loans, and sometimes grants. A business must consider the costs, risks, and benefits of each financing option depending on the amount needed and what the money will be used for.
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The document discusses different types of organizational structures and management styles. It describes hierarchical organizational charts that show reporting relationships within a company from the top-level executives down to front-line workers. These charts can be flat, with few levels, or tall, with many layers between top and bottom. The document also outlines three management styles: autocratic, where managers make all decisions; democratic, where managers involve workers in decision making; and laissez-faire, where managers give workers independence.
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Standard Grade Business Management - Stakeholders
The document discusses stakeholders of a business. Stakeholders include owners, directors/managers, employees, inland revenue, suppliers, and customers. Each stakeholder has a different interest in the success of the business. For example, owners want high profits while customers want low prices. The document also discusses how businesses can impact the local community through social and economic costs and benefits such as job creation, infrastructure spending, pollution, and property taxes.
Standard Grade Business Management - Aims and Objectives of Business
Businesses exist for several main reasons: to develop new ideas through entrepreneurship; to make a profit by selling goods and services; and to provide public services or support charitable causes. The typical aims of for-profit businesses are survival, growth, maximizing profits, increasing market share, efficiency, and quality. However, some businesses also aim to improve conditions for workers, suppliers, local communities, or the environment. Charities similarly aim to help more people, collect more donations, and recruit more volunteers. Public sector organizations focus on providing quality and efficient services while cutting costs and securing adequate funding.
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There are three main types of businesses or organizations: public sector, private sector, and voluntary sector. The public sector is owned and run by the government to provide essential services to the public, such as health, education, and infrastructure. It is funded by taxpayer money. The private sector consists of for-profit businesses owned and run by individuals or shareholders, with goals of profit and growth. The voluntary sector includes non-profit organizations like charities that aim to help particular groups through fundraising and donations.
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The document provides an overview of what businesses do and different types of businesses. It defines a business as an organization that involves people and resources to produce goods or services. Goods are tangible items that can be seen and touched, while services are intangible things done for others. The main aim of most businesses is to make a profit by satisfying human needs and wants. Businesses can be categorized by size, market, ownership, and products. The document also discusses the chain of production and how raw materials are transformed into finished goods that are sold to customers.
Standard Grade Administration - Arranging and Paying for Travel
The document discusses travel arrangements for business trips. It covers who arranges travel, common reasons for business travel, and information the travel arranger needs to plan trips like destination, dates, accommodation requirements. It also discusses methods of transport, their pros and cons, and how to book and pay for travel and accommodation.
Standard Grade Administration - Storage and Retrieval of Information
A good filing system should be simple, quick, economical, compact, accessible, safe, expandable, and adaptable. When deciding on a filing system, factors to consider include costs, training requirements, space required, and overall benefits to the organization and employees. Electronic storage has advantages like quick access and sharing of information, but also risks like equipment failure, power loss, viruses, and human error.
Standard Grade Administration - The Mail Room
The document discusses mail handling procedures in organizations. It describes how mail is dealt with depending on the size of the organization and volume of mail. Large organizations typically have a dedicated mailroom equipped with tools like scales, franking machines, photocopiers and sorting areas. Procedures are outlined for receiving, opening, sorting, and distributing both incoming and outgoing mail as well as special delivery options and communicating information internally and externally.
Standard Grade Administration - Reception Services
The document provides guidance on setting up an effective reception area and outlines the responsibilities of receptionists. It describes qualities of a good receptionist and duties such as welcoming visitors, making appointments, and operating the switchboard. Receptionists are expected to maintain records like a visitor log and staff sign-in/out book. The document also covers security procedures for receiving and monitoring visitors.
Standard Grade Administration - Safe Working Practices and Procedures
Potential office hazards include slipping, falling, lifting injuries, and electrical hazards. Employers must provide a safe working environment under the Health and Safety at Work Act 1974 including hazard control, protective equipment, first aid, and accident recording. The Display Screen Equipment Regulations require ergonomic workstations, breaks, and eye exams. RIDDOR requires reporting of deaths, injuries keeping employees off work for more than 3 days, and dangerous occurrences to the HSE within set timeframes.
Standard Grade Administration - Office Layout
There are two main types of office layouts - traditional cellular offices and flexible open-plan offices. Cellular offices have permanent walls and doors separating individual employee workspaces, providing privacy and security but less communication. Flexible offices are open-plan without walls, allowing for easier communication but less privacy and more distractions. When deciding a layout, factors like organization size, work type, space, and cost must be considered to best suit the business needs and employee welfare.
Standard Grade Administration - Functions of Departments
The document discusses the key functions and departments within typical business organizations. It describes the main roles and responsibilities of the purchases, human resources, finance, sales and marketing, computer services, and administrative support departments. Each department works to fulfill an important business function and is led by a manager who oversees staff with specialized job titles and duties.
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Standard Grade Business Management - Information and Communication Technology
Standard Grade Business Management - Information and Communication Technology
Standard Grade Business Management - Human Resources
Standard Grade Business Management - Human Resources
Standard Grade Business Management - What is a Successful Business?
Standard Grade Business Management - What is a Successful Business?
Standard Grade Business Management - Why Do Businesses Fail?
Standard Grade Business Management - Why Do Businesses Fail?
Standard Grade Business Management - Business Location
Standard Grade Business Management - Business Location
Standard Grade Business Management - How Do Businesses Start?
Standard Grade Business Management - How Do Businesses Start?
Standard Grade Business Management - Business Organisation
Standard Grade Business Management - Business Organisation
Standard Grade Business Management - Business Growth
Standard Grade Business Management - Business Growth
Standard Grade Business Management - Aims and Objectives of Business
Standard Grade Business Management - Aims and Objectives of Business
Standard Grade Administration - Arranging and Paying for Travel
Standard Grade Administration - Arranging and Paying for Travel
Standard Grade Administration - Storage and Retrieval of Information
Standard Grade Administration - Storage and Retrieval of Information
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Standard Grade Administration - Reception Services
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Paper: https://doi.org/10.1007/978-3-031-61000-4_16
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