Unit 4 Flashcards
Organisational Structure
Organizational structure is the way a business arranges its hierarchy, roles, and communication flows, impacting efficiency and decision-making.
What does Span of Control mean?
The “span of control” is the number of employees a manager directly oversees. (A wide span of control > means one manager supervises many employees)
What does Chain of Command mean?
The “chain of command” is the formal line of authority within an organization, showing who reports to
＞
whom.
What does delayering mean?
Delayering is the process of reducing management levels in an organization to create a flatter structure, improving communication, efficiency, and adaptability
What does delegation mean ?
Delegation is when a manager assigns tasks or responsibilities to a subordinate, allowing the manager to focus on higher-level work and empowering employees to develop skills and take responsibility.
What does Responsibility mean?
Responsibility is the duty to complete tasks and be accountable for the outcomes.
What is a Tall organisational structure?
. There is a long chain of command with more layers of management
Decentralisation ?
Decisions are made closer to ensure consistent practices and policies customers
might prefer consistency from location-location.
Job analysis ?
Job analysis will also involve collecting and interpreting information about the positions .
Part- time employment ?
In contrast part-Time employment relates to any number of hours un under
The full-Time working week.
Job share (benefit)
Employers benefit from the experience and skills of two people rather than just one.
On-The-Job Training .
.Training while working
Pros: professional instruction new skills
Cons: expensive,no immediate workplace relevance
Benefits of training.
.Improves productivity
.Boosts employee motivation
.enhances retention
Non-Financial methods of motivation
.job enlargement , job enrichment ,Training ,Management Style
Fringe benefits (examples)
Items that are given to employees whilst they work in a business ( cars,travel and childcare provision)
Market research
.focus groups
.survey internet
.Questionnaire
.interviews
Qualitative data
. Based on opinions attitudes and beliefs focus groups and interview.
(Benefits & Drawbacks of Qualitative data)
Benefits - essential for important new products
Drawbacks -expensive to collect and analyse
Quantitative (Benefits & Drawbacks)
Benefits- Data relatively easy to analyse
.Numerical data provides insights into relevant trends
Drawbacks- Focuses on data rather than explaining why things happen.
.does not explain he reasons behind numerical trends
Market size
.value /volume of their own market share
.who their existing
Marketing Mix
. How a business combines its product its price uses promotion and the place of sale in order to be successfull
Changes in Marketing Mix
.The marketing Mix of a business will lead to evolve as the business grows and the environment it operates changes.
Factors that affect marketing Mix
.level of competition
.Market segment
.type of product
.Amount of finance available
Advantages of using intermediaries.
.Access to larger number of customers for the producer
..saves costs for the producer.
Disadvantages of using intermiediaries
.increased price at each level
.producer may lose control of how and where the product is sold.
Price skimming
Price skimming involves setting a high price before other competitors come into the market
Advantages of price skimming
.potential for high profit which can help to pay for research and development costs
Disadvantages of price skimming
.price skimming cannot last for long as competitors soon launch rival products
Price penetration advantages
.builds customer usage and loyalty can help develop long term profitability by having higher sales and a higher market share.
Price penetration disadvantages
.it may be difficult to raise the selling price in the future
Competitive pricing
.prices charged by competitors
.strong competition
.Cheapest provider
Competitive pricing (adv)
.selling prices should be line with rivals, so prices should be competitive and therefore attract customers
Competitive pricing (disadv)
.strategies other than price , may be needed to attract customers e,g ., providing better quality , excellent customer service or better availability.
Pricing based on costs
-Cost is an important influence on pricing
-Over time, a price must be more than related
