Economic Objectives Business is basically an economic activity‚ its primary objectives are economic. The economic objectives of a business are to earn sufficient profit to give reasonable reward to the investors of capital and to provide funds for expansion and diversification. The main economic objective of business may be described as under: (a) Earning Profit: Business activity is undertaken for earning profit. Profit is the basic incentive to business pursuits. It is the most important objective
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Stakeholders can be defined as all entities that are impacted through a business running its operations and conducting other activities related to its existence. The impact can be direct in the case of the business’s customers and suppliers or indirect in the case of the communities in which the business chooses to place its locations. Businesses must consider the needs and expectations of its stakeholders‚ though it need not consider them to be of equal importance. Certain stakeholders such as owners
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power against stakeholders e.g. customers‚ employees‚ suppliers‚ public‚ communities”. Do you agree or disagree? Explain what you answer is and why have you reached that conclusion. You are to include a clear rational argument for your case that has strong examples to support your thinking. Unlike shareholders who are solely interested in return dividends and share price growth‚ stakeholders have wide variety of interests in how companies operate. Freeman (1984) stated that stakeholders are‚ “any
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Abstract In this report‚ purposes of corporations are investigated under two different approaches on corporate value maximization: Shareholder Approach and Stakeholder Approach. So‚ firstly both approaches are defined briefly. Secondly‚ compare and contrast of shareholder and stakeholder approaches is made. Keywords: Purpose‚ Corporation‚ Value Maximization‚ Shareholder Approach‚ Stakeholder Approach. Shareholder Approach on Value Maximization: Shareholder approach
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Culture and Organisation (HR0372) Table of Contents Page No 1. Introduction……………………………………………2 2. Identification of central issue……………................3 3. Outline of theoretical framework……………………4 4. Analysis 5.1 Artifacts…………………………………………..5 5.2 Espoused values and beliefs…………………..6 5.3 Basic underlying assumptions…………………8 5. Conclusion…………………………………………….9 6. Recommendations……………………………………9 7. References………………………………………
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is the hierarchical arrangement of lines of authority‚ communications‚ rights‚ and duties of an organisation. It determines how roles‚ power and responsibilities are assigned‚ controlled and coordinated and how information flows between different levels of management. A structure depends on the organisation’s objectives and strategy. There are many influences on an organisation’s structure‚ some of which are: its size‚ task‚ staff‚ age‚ its culture and management style and its legal‚ commercial‚ technological
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In the present society‚ the whole world ’s economy is composed by numerous companies and organisations. The managers are considered imperative to the operation of a company since they have to plan‚ organise‚ lead and control the whole organisation‚ in order to ensure the healthy operation of the whole company. "A manager is someone who coordinates and oversees the work of other people so that organisational goals can be accomplished. "(Robbins‚ Berman‚ Stagg and Coulter 2008‚ p. 8) In general‚ the
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with the focus being on employee satisfaction. This is said to be the start of the HRM movement (Giri‚ 2008). The research question came from an interest in the HRM movement and the link Mayo identified between employee satisfaction and output which in turn affects profitability. Numerous amounts of research and literature support this link‚ however a piece of research carried out by Abbott (2002) indicates that there is an inverse relationship in the technology industry in particular. This is
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whereas the analysis on Apple will provide a more comprehensive understanding on the application of theories from each perspective. PART A: METHODOLOGICAL AND THEORETICAL FRAMEWORK A set of different basic assumption is crucial to identify the differences between the two perspectives which contribute to different understanding of an organization and organizing. Ontology deals with the assumption in relation to reality and study both subjectivists and objectivist standpoint on reality. Epistemology
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this study was to investigate the communication issues that occur with a modern day tourism and hospitality organisation. The research initially indicated that communication skills regarding leadership were greatly affected by the leaders gender. Secondly‚ the communication technique persuasion combined with engaging formal workplace meetings was proven to be greatly beneficial for an organisation. Thirdly‚ communication techniques such as active listening‚ ‘I’ messages and timing was proven to assist
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