PRINCIPLES OF MANAGEMENT REVIEW MATERIAL # RM2014-001 BUSINESS – is any activity involved in the production and distribution of goods and services‚ aimed to meet the economic needs of consumers with an objective of eventually earning profit. ELEMENTS OF A BUSINESS SYSTEM Economics is the study of how society produces and distributes its desired goods and services. It deals how the society uses its resources to produce goods and services. These economic resources to produce are called
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complexity‚ formalisation and centralisation. Complexity refers to thedegree of specialisation of an organisation’semployees‚ how labour is divided‚ thenumber of levels and geographicaldispersion. Formalisation is concerned withthe degree of rules and procedures‚ andcentralisation refers to levels of decisionmaking (Holtzhausen‚ 2002‚ p. 325). The characteristics of organisation structure include work specialisation (the degree to which organisational tasks are subdivided into individual jobs; also
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What is Folklore? This is the question posed in the initial chapter of the book The Study of American Folklore by Jan Harold Brunvand. There are many ways to define exactly what Folklore is‚ but it can be described as unrecorded traditions of people; the content and the manner of communication. Analyzing records and traditions allow anthropologists a glimpse into the common life of the human mind separate from all of the formal records of a people. This area of study wasn’t legitimate or organized
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Understanding Organisations: Understanding the internal and external organisational environments This section covers: Organisational theory Organisation structure Centralisation and decentralization Levels of the organization Mintzberg’s nine design parameters Formal organisational relationships Definition of an organisation: Systems of activities and behaviours to enable humans and their machines to accomplish goals and objectives a joint function of human characteristics and the nature
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Foundation Course Economics OUfc008 2 Open University of Mauritius - Foundation Course in Economics - Module 1 FOUNDATION COURSE IN ECONOMICS Module 1 OUfc 008 April 2013 3 Open University of Mauritius - Foundation Course in Economics - Module 1 ACKNOWLEDGEMENTS Course Author : Vinod Seegoolam Course Reviewer : Dr Chong Wang Cheong Ah Tow OPEN UNIVERSITY STAFF Course Supervisor : Perienen Appavoo (Open School Division) Project Coordinator : Premanand Koonjal (Open School
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Question 2 (a) Identify and explain FIVE (5) roles of Henry Mintzberg’s managerial roles. (15 marks) (b) Describe the following terms: i. Centralisation (2 marks) ii. Span of control (2 marks) iii. Work specialisation (2 marks) iv. Formalisation (2 marks) v. Chain of command (2 marks) [Total: 25 marks] Question 3 (a) Explain the TWO (2) sets of ability commonly
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regulated. For example IKEA a Swedish company is allowed to import its furniture into to the UK without being taxed. IKEA specialises in furniture production and Free trade with the UK enables to specialisation in the production furniture to continue s in which they have a comparative advantage. With specialisation they are able to take advantage of efficiencies generated from economies of scale and increased output. Consumers in the UK benefit in the domestic economy as they can now obtain a greater variety
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Describe how the second industrial revolution of the late nineteenth century differed from the first industrial revolution of the late eighteenth and early nineteenth century. This paper intends to compare the first industrial revolution of the 17th and 18th centuries and the second industrial revolution of the mid-18th and 19th centuries. It will highlight the transformation from the first revolution to the second revolution‚ focusing on the presence of giant firms and role of science and technology
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19/11/2010 Master II Management Financier (Financial Management) Mr Xavier LEPERS References Johnson G.‚ Scholes K.‚ Whittington R. (2006)‚ Exploring Corporate Strategy‚ Prentice Hall‚ 7th edition. Barney J. & Hansen W (2006) Strategic J W. (2006)‚ Management & Competitive Advantage‚ Pearson Education. Garrette B‚ Dussauge P & Durand R (Coord)‚ Strategor‚ 5ème édition‚ Dunod‚ 2009. 2 Chapter 1: Introducing Strategy 3 1 19/11/2010 Chapter 1: Introducing Strategy From competition
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Global Labour Force and the Dawn of the Post-Market era‚ New York: G.P. Putnam Ritzer‚ G Ritzer‚ G. (1995) Expressing America: A Critique of the Global Credit Card Society‚ Thousand Oaks‚ CA: Pine Forge Press Ritzer‚ G Sabel‚ C. (1994) Flexible Specialisation and the Re-emergence of Regional Economies’‚ in A‚ Amin (ed) Post-Fordism: A Reader‚ Oxford: Blackwell Taylor‚ R Thompson‚ P. and McHugh‚ D. (2002) Work Organisations‚ 3rd (ed)‚ Basingstoke: Palgrave Williams‚ C Williams‚ K. Haslam‚ C. Williams
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