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BUSS1001 Week 1: Understanding Business

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3/11/2012

BUSS1001 Understanding Business
Week 2: What is Business? Associate Professor Philip Seltsikas Associate Dean (Undergraduate)
THE UNIVERSITY OF SYDNEY

BUSINESS SCHOOL

Preview of today’s lecture

›What is Business? - Narrow view - More complex view ›Assessment 1

2

What is business? The narrow view

›‘Any activity that seeks to provide goods and services to others while operating at a profit’ (Nickels, McHugh and M H h 2010 p. G 14) d McHugh 2010, G-14).

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1

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…show more content…

WHAT?

Organizational building blocks
› › › › Mission, Vision, Goal, Purpose Strategy Collection of assets Configuration of Assets - into a structure (s) - to enact business processes Management (decision making & control) - using structure - using policies & procedures - using rewards & punishments
DON’T NORMALLY SEE DON’T NORMALLY SEE



Where did these companies come from?

WE SEE SOME OF THESE or ASPECTS OF THEM M

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Someone is at the controls – Keeping it running and navigating the environment

10

What is a BUSINESS?

› ‘Structure’ – multiple meanings › This is ‘part of’ understanding Business Structure › Organisational Structure will help us understand: ‘What is a Business’?

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Dimensions of Organizational Structure
› › › › › › Job specialization Departmentalization Span of control Chain of Command (c.f. hierarchy) Line functions and staff functions (front office/back office) Power and authority

› ›

Divisionalization Centralization / Decentralization

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Organization Chart

CEO

CFO

CIO

COO

Marketing Director

IT Manager

Sales Director

Production
…show more content…

› Key aspects of the capacity of organisations to effectively shape their own destiny include the decisions that they make about: k b t

 Strategy  Structure; and
BUSS1001 Understanding Business

 Behaviour
BUSS1002 The Business Environment

Business: key player in society
• Is a major change agent • Has the potential to be a ‘force for good’ g prosperity • Drives growth and p p y

Society
• Impacts on business • Is constantly changing and so, must business change • Affects what businesses do and how they do it

What is business? A broader perspective

›Transformation of inputs into outputs to produce goods and services that meet needs and wants in the society [adapted from Wetherly and Otter 2011]

For-profit businesses Private P i t sector t Types of business activity Public sector Non-profit organisations Government organisations

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Purpose of a ‘For-profit’ business organisation

›Maximising returns on debt and


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