Business Objective and Functions

Question 1

Organisation

Answer 1

arrangement for the controlled performance of collective goals

Question 2

Buisness

Answer 2

Org orientated towards making a profit for its owners

Question 3

Sustainability

Answer 3

ability to meet needs of present w/o compromising ability of future generations meeting their needs

Question 4

Corporate responsibility

Answer 4

actions of a biz in achieving sustainability

Question 5

Primary biz objective

Answer 5

profit maximisation to increase shareholder wealth

Question 6

Secondary biz objective

Answer 6

~ market position
~ product dev
~ technology
~ e’ee and mgt

Question 7

Mission

Answer 7

Biz basic function in society

Question 8

SMART

Answer 8

Specific
Measurable
Achievable
Relevant
Time-bound

Question 9

Qualitative goals

Answer 9

aims

Question 10

Quantitative goals

Answer 10

objectives

Question 11

Power

Answer 11

ability to get things done

Question 12

Coercive power

Answer 12

power of force or physical punishment

Question 13

Reward (Resource) power

Answer 13

based on access to or control over valued resources

Question 14

Expert power

Answer 14

based on experience, qualifications or expertise

Question 15

Referent (Personal) power

Answer 15

Based on force of personality or charisma

Question 16

Negative power (Handy)

Answer 16

Power to disrupt operations

Question 17

Line manager

Answer 17

authority over a subordinate

Question 18

Staff manager

Answer 18

give specialist advice to another manager or department

Question 19

Functional manager

Answer 19

Hybrid of line and staff authority, manager has authority in certain circumstances in other department

Question 20

Project manager

Answer 20

authority over project team members