Preview

Concepts, Definition & Origin Summary

Satisfactory Essays
Open Document
Open Document
741 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Concepts, Definition & Origin Summary
University of London

Introduction to Business & Management

Examination
2013/2014

Topic: Unit 1.1

Concepts, Definition & Origin
Summary

Concepts, Definitions & Origins

1 Why do organisations exist and its objectives

2 Origin of Organisation
Since time immemorial (early days) organization have been in existence [Hammurabi].

3 Organisation
Definition - Is a social entity that provides the necessary structures to achieve specific aim – Is this definition acceptable for organization ????
This is a generic term which applies to all institutions
Problem with this definition – whether organizations is Profit / Non-Profit / Public Sector Organisation
A definition has to be arrived at – Why? To have better governance/mgt of organization.

4 Business
Definition - It is a commercial enterprise of any establishment that trades in goods & services
This definition was applicable in the early days of business
Barter is a form of trade
Business was not in exchange of money but for goods

Problem Definition does not refer to non-profit / public sector - definition considers trade in terms of exchange of money; not true; trade can be in exchange of value - therefore definition cannot apply to non-profit and public sector.

A definition has to be arrived at - why? so as to have better governance of organizations

5 Why All Organizations are Commercial Enterprises?
During WW1 & WW2, markets and countries were isolated. Isolation provided protection. As a result, organizations need not have to be run as businesses Greatest change is in Information Technology. Internet and networking enabled the world to become more integrated. The way we operate was revolutionized by IT.

• Work of WTO ( World Trade Organisation ) has made the world more global and integrated

• National govts have privatized public firms and deregulated industries

• Trading blocs have been established and have become

You May Also Find These Documents Helpful

  • Good Essays

    dynacorp

    • 1581 Words
    • 7 Pages

    It is defined as that which sees the organization as an arena for competition and conflict among individuals, groups and other organizations whose interests…

    • 1581 Words
    • 7 Pages
    Good Essays
  • Satisfactory Essays

    BUSN 115 Midterm Exam

    • 291 Words
    • 2 Pages

    1.1. (TCO 1) The amount of money a business takes in during a given time period by selling goods and/or selling services.…

    • 291 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    -The exclusive possession or control of the supply or trade in a commodity or service.…

    • 532 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Busi 3103 Notes

    • 5946 Words
    • 24 Pages

    - Organization: social entities that are goal directed, deliberately structured and linked to the external environment…

    • 5946 Words
    • 24 Pages
    Good Essays
  • Good Essays

    It sets the standard for what is and is not done within an organization, and serves as an example for what type of behavior will be rewarded. For example, where I work, at the Office of Information Technology, in the Networked Information Services division, the group on campus that manages the BU Web, our director has us devote a lot of time to maintaining our internal procedures. His idea is that a new employee should be able to read those procedures, starting on his or her first day, and not have to ask anyone anything in order to start working. He verbally criticizes any employee that takes up another employee’s time asking for instructions on how to do something, and demands an explanation of the person that wrote the procedure, about why it was not well enough written. Therefore, the procedures are well maintained, but collaboration is hindered. Employees who ask each other for help typically do so in whispered…

    • 1262 Words
    • 6 Pages
    Good Essays
  • Good Essays

    one business should be profit-making, e.g. Marks & Spencer; one business should be not-for-profit, e.g. Malcolm Arnold Academy…

    • 1174 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    Part 2: What is an Organisation? 1. 2. 3. How do we finding ‘meaning’ in the various definitions of organisations? What are the characteristics of an organisation? Has organisation changed over time? How does this impact our learning of languages of organisation and management?…

    • 2163 Words
    • 9 Pages
    Satisfactory Essays
  • Powerful Essays

    The ‘components’ (the people who are a part of, and the ultimate goals) of the organisation (organisation being the operative word), need to have structure and need to be organized, or there will be no organisation. That is why work standards are put in place. Everyone who is a member of the organisation needs to agree with, and comply with their organisation’s work standards, in order for the agreed standards to be effective, and for to achieve the goals of the organisation.…

    • 1151 Words
    • 5 Pages
    Powerful Essays
  • Good Essays

    terms and concepts

    • 1068 Words
    • 3 Pages

    Understanding Business Research Terms and Concepts Quiz 2, Grunig Match the letter of the answers on the right to the questions on the left. Each answer can be used more than once. Questions AnswersWhich type of research design is appropriate for the following example A company wants to discover if changing from mail advertisements to TV advertising will increase sales at its furniture stores. ____Symmetrical relationship Longitudinal Exploratory Convergent interviewing Cross-sectional study Projective technique Causal Critical incident Descriptive Quota matrix Trend stationary Reactivity response Within-groups Which type of research design is appropriate for the following example The regional director wants to know which banking services are being offered by competitors in the region. ____Which type of research design is appropriate for the following example The manager wants to know what the reasons are that customers buy from his shoe store. ____Which type of research design is appropriate for the following example A consultant wants to know what the average level of patient satisfaction is for hospitals in a city. ____Which type of research design is appropriate for the following example A car dealer wants to know if having one of their representatives call recent new car purchasers would increase the level of satisfaction customers feel with their purchase. ____Multiple ChoiceSelect the best answer and enter it in the blank. EXAMPLE __C_ What color is the sky A) brown B) pink C) blue D) green ____ Which of the following is the most important consideration in…

    • 1068 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Many large organizations or businesses of any type use a format or structure to follow to set this into motion. Without these rules the company would not have any type of organization or structure to follow and not considered a reputable company of any kind. Certain requirements must be met and followed by the employees to ensure they are doing a good job for the company. As both types of structure have rules, one just more defined than the other; in this case the bureaucratic organization has a different much more alienated view than the formal structure of a basic company.…

    • 1107 Words
    • 5 Pages
    Good Essays
  • Better Essays

    References: Arrow, Kenneth J. (1974). The Limits of Organizations. New York, Norton and Company, Inc.…

    • 1307 Words
    • 4 Pages
    Better Essays
  • Powerful Essays

    Organisational Behaviour

    • 4218 Words
    • 17 Pages

    An organisation is defined as a clearly bounded group (or groups) of people interacting together to achieve a particular goal in a formally structured and co-coordinated way.…

    • 4218 Words
    • 17 Pages
    Powerful Essays
  • Satisfactory Essays

    The technological change that has had the largest effect on the life in this country is the internet. The internet has afforded this country many opportunities these opportunities have been positive and negative.…

    • 397 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    The Financial Crisis

    • 3376 Words
    • 14 Pages

    terms of power within the organizations? Were the models used inadequate to deal with new…

    • 3376 Words
    • 14 Pages
    Good Essays
  • Powerful Essays

    Value Chain Model

    • 1679 Words
    • 7 Pages

    an organization is more than a random compilation of machinery, equipment, people and money. Only…

    • 1679 Words
    • 7 Pages
    Powerful Essays