Therefore, my dear brothers and sisters, stand firm. Let nothing move you. Always give yourselves fully to the work of the Lord, because you know that your labor in the Lord is not in vain.
The Principles of Henri Fayol
1. DIVISION OF LABOR. This principle calls for the specialization of work. He believed that once a worker is able to master his work, he can produce more because the job is routinary.
2. DISCIPLINE. As a way of organizing the work flow, the firm must set the rules, obligations as well as penalties.
3. UNITY OF COMMAND. This principle follows bible saying “You cannot serve two masters”. In any firm, a worker must only receive one command from one superior. This will avoid conflict of directions hat would lead to misinterpretations.
4. UNITY OF DIRECTION. Just like a sailboat, a firm must have a set of directions. All the members in the organization must have in mind only one direction in mind.
5. SUBORDINATION OF INDIVIDUAL INTEREST FOR THE COMMON GOOD. The employees work for the company. Thus, it is the company which they should serve and not themselves. In any situation, the employees must always think of what we should b good for the company and not for himself.
The principle of HENRI FAYOL explains on how to make the work of the employees more productive and more useful. These principles are related to the passage in the bible in a way that it gives us lesson that in order for us to succeed we should be united and we should be strong no matter what kind of situation we are in. We should do everything that we are capable of so that we can attain and reach our ultimate dream and ambition in our business. We should try in being always cooperative with each other so that in the end of our journey, all our works will not be in vain or useless.
All hard work brings a profit, but mere talk leads only to poverty.
BUSINESS PLANNING FOLLOWS SEVRAL STAGES SUCH AS THE FOLLOWING:
STAGE 1: OBJECTIVE-SETTING. First, you should know the intention of the business plan. Is it for creditor? Or for prospective investors? The reason why this is necessary is that the picture of your business plan must be geared towards satisfying the users.
STAGE 2: BUDGETING. Knowing the objective of the business plan, what are the financial needs of the project? If there is an expansion program, how much sales is projected? To attain the projected sales, what is the cost of raw materials to be purchased, wages to be paid, acquisition of fixed assets and other expenses?
STAGE 3: SOURCING OF FUNDS. Budgeting identifies the amount necessary to accomplish the business plan. After knowing the necessary budget required, where can the firm get funds?
STAGE 4: DRAFTING OF THE PLANS. Here, the ideas are formalized into a formal statement. In strategic planning, the plans would come from the top administration and then the lower level management makes their own operational plans.
STAGE 5: IMPLEMENTATION. Here plans are actualized; the persons accountable for the implementation of the plan must see to it that nobody deviates from what is desired.
From that passage in the bible, I can say that there is really relationship between them because especially in making the business plan, it requires a lot of steps and hard work before you can finish and accomplish it but in order to make your written plans possible, you should also do everything in order for it to be in the real world of business and not just like in the passage that states that it will only leads to poverty or shall we say great mistake and fall
I fear not, for God is with me; I am not dismayed; for He is my God. He will strengthen me, yes, He will help me, He will uphold me with His righteous right hand.
PROBLEMS IN MANAGING AN ENTERPRISE
1) FINANCIAL PROBLEMS. Money will become one of the most important needs in operating the business....