Chapter 12 Flashcards
what is an organizational structure
the method in how work flows through an organization
Collaboration
imply two or more people working towards a common goal
GAAP
Generally Accepted Accounting Principles
accounting rules for preparing, presenting, and reporting financial statements so an organization and its investors can have a standard set of reports regarding a business’ well being
core business functions
- accounting
- marketing
- human resource
- research and development
- production
human resource departments
recruiting and hiring new employees, evaluating and managing personnel, tracking personnel data, administering payroll and pensions and sometimes providing advice to employees regarding work-related issues
Marketing departments
focus on customers and have core responsibilities like advertising and branding a business’ products and services.
4 P’s of Marketing
Products-the actual goods and services a business produces and how they relate to customer’s needs (warranties, guarantees, and customer support)
Place- how a product or service is delivered to a customer
Promotion- the advertisement of a business’ products and services, as well as promotion and publicity
Price- refers to what a product costs, or at least what a business is willing to exchange for their products
Research and development (R&D) departments
take a creative and systematic approach to evolve a business’ original idea and devise new ones
Production departments
-prepare these goods and services to be sold commercially
-focus their attention on the most efficient and cost effective way to produce goods and services to maximize profits
Business collaboration
involves two or more people or departments working towards a common business goal.
facilitated by the exchange of data and information.
Data and information exchange software
techniques can be categorized as electronic computing tools
collaborative software and techniques
management tools
Project Management Software
provides a business with a collaborative road map for organizing and managing resources to schedule a project from start to finish
Knowledge Management Systems
collaborative systems that organize, create, and distribute a business’ collective knowledge
3 types of formats for collaboration within a business
-functional
- divisional
- matrix
functional
when in a business all departments have their own area grouped together (acct. one floor, finance another floor, etc)
pros- collaboration, productivity, and training are easier and faster
cons- communication and jealousy and morals can lost with other departments
divisional
opposite of functional
pros- created accountability, creates transparency
cons- communication gets lose, translation is lost, cost more to operate, can cause jealousy from other groups
Matrix
combination of both
pros- reliability, accountability
cons- costs a lot
who has committed accounting fraud
ENRON
difference between marketing and advertising
marketing is identifying the need of a product in a certain area while advertising is advertising the product in that area
how do departments stay connected and collaborate?
emails, meetings, memos, powerpoints, etc
