ORGANIZATION

• Organization - Is a group of people working together to achieve common goals and objectives.
• Organization Goals - It is a statement of desired future an organization whishes to achieve. It describes what the organization is trying to accomplish.
• How to make goals

  • Specific: Goals should be clear and well-defined, answering the questions of who, what, where, when, and why. They provide a clear focus for the efforts.
  • Measurable: Goals should include concrete criteria for tracking progress and determining when the goal has been successfully achieved. Quantifiable metrics help in assessing the extent of goal completion.
  • Assignable: Goals should be realistic and attainable, taking into consideration available resources, skills, and time. They should challenge individuals or teams but remain within the realm of possibility.
• How to make goals

  • Realistic: Goals should be aligned with broader objectives and contribute meaningfully to the overall mission. They should be worthwhile and support the organization's or individual's vision.
  • Time-Bound: Goals should have a defined timeframe for completion. This creates a sense of urgency and helps in preventing the goal from
• HOW TO MAKE GOALS

  1. Specific
  2. Measurable
  3. Assignable
  4. Realistic
  5. Time-bound
• Efficient Resource Utilization - Organizations provide a structured framework for the efficient allocation and utilization of resources, including human capital, financial assets, and technology. Through

  effective management, organizations ensure that resources are directed towards achieving specific goals and objectives.
• Economic Contribution - Organizations, particularly businesses, are key drivers of economic development. They create jobs, generate income, and contribute to the overall growth of economies. By

  engaging in trade and commerce, organizations stimulate economic activity and innovation.
• Innovation and Progress - Organizations are hubs of innovation and progress. They invest in research and development, driving technological advancements and improvements in products and services. This innovative spirit contributes to societal development and enhances the quality of life.
• Coordination of Efforts - Organizations bring together individuals with diverse skills and expertise to work towards common objectives. They provide a structure for coordinating efforts, promoting teamwork, and achieving synergies that lead to more effective outcomes than individual efforts alone.
• Social Stability and Community Impact - Organizations play a crucial role in providing stability to communities. They offer

  employment opportunities, contribute to social cohesion, and support community development initiatives. Non-profit organizations, in particular, address social issues and contribute to the well-being of society.
• Manager

  • Someone who coordinates and oversees the work of other people so that organizational goals can be accomplished.
• Information System Manager

  • The primary role is to design, manage, and monitor information systems by overseeing a team of specialists who install and maintain hardware and software upgrades.
• Classifying Managers

  • First-line Managers

  Individuals who manage the work of non-managerial employees.

  • Middle Managers

  Individuals who manage the work of first-line managers.

  • Top Managers

  Individuals who are responsible for making organization-wide

  decisions and establishing plans and goals that affect the entire

  organization.
• Levels of Management: How Managers Are Organized

  Top Managers

  • Set Objectives
  • Scan Environment
  • Plan and Make Decisions
• Levels of Management: How Managers Are Organized

  Middle Managers

  • Allocate Resources
  • Over-see First-line Management
  • Report to Top Management
  • Develop and Implement Activities
• Levels of Management: How Managers Are Organized

  First-line Manager

  • Coordinate Activities
  • Supervise Employees
  • Report to Middle Managers
  • Involved in day-to-day operations
• Management - How businesses organize and direct workflow, operations, and employees to meet company goals. The primary goal of management is to create an environment that lets employees work efficiently and productively.
• Managerial Concerns

  Efficiency

  “Doing things right”

  • How well you use your resources
  • Getting the most output for the least inputs
• Effectiveness

  “Doing the right things” -

  • How well you get to your objectives
  • Attaining organizational goals
• Management Functions

  Planning - involves setting goals, establishing strategies, and developing plans to coordinate activities.

  Organizing - is the arrangement of resources to achieve organizational goals.

  Leading - involves influencing and motivating people to achieve organizational goals.
• Controlling - involves monitoring and adjusting organizational performance.

  Staffing - recruiting employees by evaluating their skills, knowledge, and offering them specific job roles accordingly.
• A Firm is a business unit producing goods and services for profit.
• Business is all profit-seeking activities that provide goods and services to generate revenue
• A business firm may be visualized as an institution in society surrounded by environment.

  A business environment refers to the factors or elements affecting a business organization and these forces are identified as Internal and External factors.
• INTERNAL FACTORS

  • Factors or elements within the organization
  • The internal factors are regarded as controllable factors
• EXTERNAL FACTORS

  • factors and elements outside the organization which may affect its performance
  • The external or environmental factors are beyond the control of the business firm
• EXTERNAL BUSINESS ENVIRONMENT:

  GENERAL COMPONENT

  Economic

  Sociocultural

  Political/legal

  Demographic

  Technological
• Internal Includes these factors:

  Resources

  Research and Development

  Production

  Procurement of Supplies

  Products and Services offered
• STAKEHOLDERS:

  1.Customers - those who patronize the organization’s products and services

  2. Suppliers - ensure organization’s continuous flow of needed and reasonably priced inputs or materials
• STAKEHOLDERS:

  3. Employees - who work for another or for an employer in exchange of salaries/wages or other considerations

  4. Shareholders - provide the company with the financial support it needs.

  5. Pressure groups - are special-interest groups that try to exert influence on the organization’s decisions or actions
• PEST ANALYSIS stands for

  Political, Economic, Social, and Technological.
• SWOT ANALYSIS

  It is a technique for assessing the performance, competition, risk, and potential of a business
• SWOT ANALYSIS acronym for

  Strengths, Weaknesses, Opportunities and Threats.
• A sole proprietorship is a type of business organization in which an individual personally owns the business.
• A partnership is formed when two or more persons bind themselves to contribute money, property or industry to a common fund with the intention of dividing the profits and ownership among themselves.
• A corporation is owned by several people, called shareholders, and has a personality separate and distinct from them.
• BASIC FORMS OF BUSINESS ORGANIZATION

  1.Sole Proprietorship

  2. Partnership

  3. Corporation