Definitions
Name: Judith González Cardona
NUA: 117532
Task 1 Definitions
Administration
Provide a definition of administration.
It refers to the acts that go into the performance of executive duties, this can refer to running affairs, a business or an organization.
Concepts of Administration
Fayolism
Planning, organization, commanding, coordination, control.
Taylorism
Reducing waste
Mechanisation
Inhumane treatment of working
Universal functions in Administration
All activities to manage a business.
Administering
Executing
Managing
Timing
Ordering
Business
Define Business
A business refers to a physical store retail whose main purpose is to achieve a profit by offering goods or services.
Concepts of Business. (Define them in detail)
Customers: they make the profits of a business possible, they are the people who buy your products or utilize your services.
Sales: it refers to the act of finalizing a transaction within your business - this transaction comes with a financial profit.
Employers: they usually are the owners of the business, but they can also be the ones who manage it, they are in charge of hiring people to help with the daily activities that need to get done.
Employees: people hired by owners/managers to perform everyday tasks.
Stores: physical locations that a business has to operate and make sells.
Websites: online url locations where businesses can sell their products or give information about them.
Goods: physical products that are sold to customers for personal use.
Services: acts that people are hired to get done for someone else.
Objective of Business.
Profiting
Growing an image
Targeting audiences
Types or classification of business. (Define each in detail)
Industry
It focuses on the production of goods, starting out with raw matter and concerning itself with the transformation of it until it becomes a finished product ready for consumption.
Commerce
It’s main focus is the distribution of goods and services locally and internationally. It is a main goal of commerce to ensure the flow of the chains of supply go smoothly.
What does “form of business ownership” refer to? Provide definitions.
It refers to the ownership structure that helps business owners support their goals, and it takes into consideration factors like simplicity, liability, control, financing and taxes.
There are 10 types of business ownership classifications:
Sole proprietorship
Partnership
LLP
LLC
Series LLC
C corporation
S corporation
Nonprofit corporation
Benefit corporation
L3C
Management
Define management.
Management refers to the actions that people or companies take to make sure organizations stay in place along with their employees, they make sure protocols and rules are being followed in an orderly manner.
Functions of management. (Describe them in detail)
Executing orders: these can be from a higher hierarchy, corp, etc.
Keeping the peace: ensuring that the rules stay in place makes sure that the climate labor stays amiable.
Following protocols: making sure that employees and employers follow the protocols helps run the organization easily.
Important areas of knowledge for a business manager. Mentions as many as you know or find.
Technical knowledge
Organizational skills
Leadership
Problem resolution
People skills
Handling stress
Organization
Provide a definition of organization. Be extensive.
An organization refers to a group of individuals who are joined to work together formally in a firm such as a government, partnership, etc. In business, an organization is one or more businesses that are being controlled by a person or a group of people.
It can also refer to the action of putting things into a logical order or taking an efficient approach in order to complete certain tasks - it depends on the context that is being said around the word. The purpose of an organization is to establish a form of work that will work better to achieve the common goals that need to be made.
References
Merriam-Webster. (n.d.). Administration definition & meaning. Merriam-Webster. Retrieved December 28, 2021, from https://www.merriam-webster.com/dictionary/administration
RC, Argwall. Classification of Business Activities. Retrieved December 28, 2021, from: https://www.yourarticlelibrary.com/business/classification-of-business-activities-industry-and-commerce/42018
The blueprint, 2020. 10 Types of Business Ownership and Classifications. Retrieved December 28, 2021, from: https://www.fool.com/the-blueprint/types-of-business-ownership/
I find it interesting that the concepts related to administration are very similar, and at the same time very different. It also seems interesting to me that the administration has been studied for many years, and the related concepts and processes continue to be perfected, because companies and the world are in a constant and fast change
ResponderEliminarProblem solving is undoubtedly a very important skill of a manager. The ability to find solutions benefits organizations especially because the world is constantly changing
ResponderEliminarI think that your definition of business is incorrect, because you mean that it is physical, but no, now most of the buying and selling operations are online.
ResponderEliminar