Business Objective and Functions Flashcards
What does SMART stand for?
Specific, Measurable, Achievable, Relevant, Time-bound
What are Physical Standards, Cost Standards and Quality Standards?
Physical = e.g units produced Cost = cost of units produced Quality = variety of standards (e.g. consumer satisfaction)
Types of power.
Coercive, Reward, Legitimate, Expert, Referent, Negative
Coercive = punishment Expert = based on qualifications Referent = personality Negative = power to disrupt operations
Types of manager
Line, Staff, Functional, Project
Line = over a subordinate Staff = advice to another Functional = authority in certain area (e.g. IT) Project = over a project
Each is 2 of: Flexibilty/Control AND Outward/Inward looking
Human Relations Culture
Open systems culture
Internal Process culture
Rational Goals Culture
Human Relations = Flexible/Inward
Open Systems = Flexible/Outward
Internal Process = Control/Inward
Rational Goals = Control/outward
Scientific Management
One best way of doing a task
Theory X and Y
X - individuals avoid work
Y - individuals need rewards
Herzberg Hygeine and Motivating
Hygiene = context of job Motivating = content of job
Belbin Team Roles
Leader, Shaper, Plant, Evaluator, Resource-Investigator, Company worker, Team worker, Finisher
Shaper = committed to task, Plant = ideas, Resource-Investigator = adds to ideas, Company worker = specifics
Four C’s of Human resource management
Commitment, Competence, Congruence, Cost-effectiveness
Marketing Orientation
Sales Orientation
Production Orientation
Product Orientation
Customer
Selling
Making stuff
Love one product
What is the marketing mix?
And the 4 P’s…
Set of controllable marketing variables that a firm blends to produce the response it wants in the target market
Product, Price, Place, Promotion
Servicing Marketing Mix
1) 4Ps
AND 3 more Ps
Product, Price, Place, Promotion,
People, Processes, Physical Evidence
Procurement Mix
Quality, Quantity, Price, Lead Time
Disadvantages of Organisational Chart
No informal relationships,
Needs constant updating
Key building block of Simple Structure Machine Bureaucracy Professional Bureaucracy Divisionalised Adhocracy
Simple Structure - Strategic Apex Machine Bureaucracy - Technostructure Professional Bureaucracy - Operational Core Divisionalised - Middle Line Adhocracy - Operational Core
Key Features of Machine Bureaucracy
Jobs grouped by common feature
Clear lines of reporting
Formal procedures and paperwork
Slow decisions
Rigid
Divisionalised
e.g virgin
good for
Divisionalised
e.g virgin
good for growth
allocation over central costs tricky
Adhocracy
e.g. KPMG
often 2 bosses
Dilution of authority
Tall/Flat business
Tall inhibits delegation, good decision making
