Principles Of Business SBA

Topics: Economics, Entrepreneurship, Insurance Pages: 23 (3514 words) Published: March 9, 2014
CXC CSEC Principles of Business Exam Guide
 
Profile 1: Organizational Principles
Section 2: Internal Organizational Environment
 

SPECIFIC OBJECTIVES

The students should be able to:
CONTENT
1.
Describe the functional areas of a business.
Functional areas of a business:
(a) production
(b) finance
(c) marketing
(d) personnel
2.
Outline the functions of management;
The functions of management:
(a) planning
(b) organizing
(c) directing
(d) controlling
(e) Coordinating
(f) delegating
(g) motivating
3.
Outline the responsibilities of management;
Management responsibilities to:
(a) owners and shareholders (by maximizing      efficiency and creating surpluses); (b) employees (for example, providing adequate      working conditions, training,maintaining good      communication and human relations; (c) society;

(d) consumers;
(e) government.
4.
Construct organizational charts;
The construction of simple organizational charts.
5.
Interpret organizational charts;
The interpretation of simple organizational charts.
6.
Outline the essential characteristics of good leader;
The characteristics of a good leader.
7.
Differentiate among the various leadership styles;
The advantages and disadvantages of different leadership styles. 8.
Identify potential sources of conflict within an organization; Internal sources of conflict.
 
9.
Outline strategies used by employers and employees to gain an upper hand during periods of conflict; Employer strategies, for example, lock out and the use of scab labour; and strategies used by employees for example strike action and work to rule. 10.

Identify strategies for the resolution of conflict within an organization; Conflict resolution strategies including mediation, arbitration and the value of trade union representation. 11.
Establish guidelines for the conduct of good management and staff relations in the workplace; Guidelines for establishing good relations between managers and employees. 12.
Evaluate the role of teamwork in the success of an organization;  
The value of teamwork within an organization:
(a) definition;
(b) advantages;
(c) disadvantages.
13.
Outline strategies for effective communication within an organization; The communication process and strategies for effective communication within an organization. 14.
Explain the concept of a Management Information System (MIS); The concept of MIS in an organization (to manage information for decision-making for example, manual and automated). 15.
Outline the benefits and challenges of a Management Information System in business;  
(a) Benefits of an MIS system, for example:
(i) savings in time, money and      labour;
(ii) improvement in production;
(iii) increased competitiveness.
(b) Challenges of an MIS system, for example:
(i) cost of setting up and maintaining (establishment, maintenance and security); (ii) cost of training (human resource development)
(iii) Human error.
16.
Discuss the personal needs that are satisfied through employment. Economic, social, psychological and physiological needs.

CXC CSEC Principles of Business Exam Guide
 
Profile 1: Organizational Principles
Section 1: The Nature of Business

SPECIFIC OBJECTIVES
The students should be able to:
CONTENT
1.
Explain terms and concepts related to business;
Definition and explanation of the following terms and concepts: (a) enterprise
(b) entrepreneurship
(c) barter
(d) profit
(e) loss
(f) trade
(g) organization
(h) economy
(i) producer
(j) consumer
(k) exchange
(l) goods
(m) services
(n) market
(o) commodity
(p) capital
(q) labour
(r) specialization
2.
Trace the development of instruments of exchange;
Brief history of trading instruments from subsistence economy to money economy, including the use of the following: (a) bills of exchange
(b) credit cards
(c) electronic transfer
(d) tele-banking and e-commerce
3.
State reasons why an individual may want to...
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