Sole Proprietorship: A business owned by one person, easy to get into, profits go to the owner, major decisions made by the owner
Office work mainly consists of paperwork, service function, indirectly contributes to profit, helps in the functioning of the whole organization, and the volume of work depends on different factors
Office
Derived from the Latin word "Officium", which refers to "work" or "service" and "facere" which means "to do" or "to make"
Offices are universal and found in various organizations such as banks, department stores, manufacturing companies, supermarkets, medical clinics, law offices, schools, government agencies, etc.
Partnership: Legal association of two or more persons in a business, easy to form, combines talents of several people, conflicts between partners can destroy the company
The modern concept of Office Work
1. JOB ANALYSIS – What to do and how to do
2. COST BENEFIT ANALYSIS – To consider how much investment is required to complete the task
3. STANDARDIZATION – Required to complete tasks and jobs without errors in a decided way
4. WORK SIMPLIFICATION – Required to reduce perplexity, time, and cost in completing a particular task
5. FOLLOW UP ACTIVITIES – Checking errors and correcting them to eliminate repetition
Office Work
1. Handling calls and mails
2. Planning, administration, communication, etc.
3. Accounting, auditing, and budgeting
Forms of Business Organizations: Sole Proprietorship, Partnership, Corporations
Corporations: Governed by a Board of Directors, managed by an Executive Committee, owners are called "stockholders", owners have limited liability, various government regulations requiring disclosure of finances
Persons with technical specializations in organizations
Accountants, systems analysts, programmers, economists, engineers, etc.
Organization chart in corporations
Shows positions in hierarchical order
Owners of corporations are called "stockholders"
Clerical roles
Clerk: A person who keeps records or files
Bookkeeper: Records the accounts and transactions of a business
Typist: Operates a keyboard machine
Stenographer: Skilled in shorthand
Telephone operator: Operates a telephone
Secretary: Executive assistant with office skills
Data entry clerk: Keys in information into a computer