Learning Outcomes Analyze business environments in terms of transformation systems and internal and external environments Identify the most relevant elements of the business environments using PESTLE analysis and Porter’s five forces model Discuss the classical‚ human relations and systems approaches to organizations Describe and compare the various structures that may be used within organizations. The business as a transformation system Transformation Process: Businesses utilize the inputs
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The External Environment affects the internal operations of all businesses. What’s happening in the world of politics‚ economics‚ socially and technologically impacts how a business has to act in order to survive. External elements that affect the inner working of a business are known as PEST factors. ‘PEST’ is an acronym for Political‚ Economic‚ Social and Technological. Politics may affect the ability of a business to achieve its aims and objectives and changes in laws may mean a company has
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Human Resources Management in the Global Environment 1 Human Resources Management in the Global Environment Today’s job market is rapidly becoming globalized and more companies are entering into international markets in a variety of ways. Some companies are building plants in other countries‚ some companies are exporting products overseas‚ and some are entering into alliances with foreign companies. No matter how the involvements begin‚ the reality is that in today’s world‚ managing global
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Assessment Submission Form Student Name Student Number Assessment Title Module Code Module Title Module Co-ordinator Tutor (if applicable) Date Submitted Date Received Grade/Mark Pre Course Assignment (PCA) BMGT2003L Project Management Dr. Frank Wiengarten A SIGNED COPY OF THIS FORM MUST ACCOMPANY ALL SUBMISSIONS FOR ASSESSMENT. STUDENTS SHOULD KEEP A COPY OF ALL WORK SUBMITTED. Procedures for Submission and Late Submission Ensure that you have checked the School’s
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Q3. What is Environment? Why is it essential for management students & practitioners to study environment & its management? Answer:- Environmental Protection Act (1986) defined “Environment as the sum total of water‚ air and land‚ their interrelationship among themselves and with the human beings‚ other living beings and property.” The important things in the environment that we value are called ‘Natural Resources’. There are 2 types. 1. Renewable Natural Resources: - They grow naturally when we
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OPERATIONS MANAGEMENT IN SERVICE AND MANUFACTURING ENVIRONMENTS In defining an organization we usually come across two major categories of organizations. First Manufacturing organization and the other Service organization. Both‚ above-mentioned organizations are completely different from one another and hence the role of operations management is different in both. Operations management is mainly concerned with making the proper use of available resources of the organization. Resources available
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Planning‚ organizing‚ leading‚ and controlling—the four management functions—are seen in a variety of business environments. Different factors can have an impact on these four management functions. The factors are: globalization; technology; innovation; diversity; and ethics. These factors as they apply to Wal-Mart‚ one of the leading retail stores in the world‚ will be examined in this paper. During the past decade‚ retail markets have undergone many changes in their processes‚ services‚ and formats
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Internal Control Definition Internal control is broadly defined as a process‚ effected by an entity’s board of trustees‚ management‚ and other personnel‚ designed to provide reasonable assurance regarding the achievement of objectives in the following categories: 1. Effectiveness and efficiency of operations 2. Reliability of financial reporting 3. Compliance with applicable laws and regulations 4. Safeguarding of assets Internal control consists of five interrelated components:
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plan. As to strategic management which refers to the management of company’s strategy‚ it includes strategy formulation and strategy implementation these two aspects. The strategic management is a domain that addresses the main expected initiatives generated by the business owners‚ including allocating of resources‚ improving corporate business achievement; and it specifies the mission‚ vision and objectives for the company‚ to develop the policies and plans. Strategic management is a proceeding process
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Like internal validity‚ there can also be threats to external validity‚ & this can be an explanation of how researchers may be wrong in making a generalisation. For instance‚ researchers may conclude that the results of their study (which was done in a specific place‚ with certain types of people‚ & at a specific time) could be generalised to another context. For instance it could have been at another place‚ with different people‚ at a later time‚ even if these factors are only slightly different
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