...STRATEGY: Strategy refers to a plan of action designed to achieve a particular goal. The word is of military origin, deriving from the Greek word strategous, which roughly translates as general. Or Strategy is defined as the comprehensive (complete/broad) & integrated (included/ incorporated) plan to assure that the basic objective of the co or enterprises are achieved. CORPORATE STRATEGY/ STRATEGIC MGMT: It focuses on how managers formulate and implement, and evaluate strategies or plans aimed at developing and maintaining competitive advantage. Here competitive advantage means “the reason some firms enjoy higher levels of performance than their rivals or competitors” FEATURES OF STRATEGY: It includes planning & implementation. It is creative in nature. It is a dynamic & flexible program. It includes all the levels of Org. but maximum efforts are done by Top & Middle Mgmt. Its Life Span is Limited. It is Future Oriented or Forward Looking It offers Broad Guidelines or blueprints to be successful. Strategy is a well defined roadmap of an organization. (mission & Vision are defined). COMPONENTS OF STRATEGY: The strategy statement of a firm sets the firm’s long-term strategic direction and broad policy directions. It gives the firm a clear sense of direction and a blueprint for the firm’s activities for the upcoming years. The main constituents of a strategic statement are as follows: a) STRATEGIC INTENT(PLAN/TGT/GOAL) An organization’s strategic intent is the purpose...
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...Higher Nationals LEVEL Acc QrCdFed e it Issue 4 July 2011 Edexcel, a Pearson company, is the UK’s largest awarding body, offering academic and vocational qualifications and testing to more than 25,000 schools, colleges, employers and other places of learning in the UK and in over 100 countries worldwide. Qualifications include GCSE, AS and A Level, NVQ and our BTEC suite of vocational qualifications from entry level to BTEC Higher National Diplomas, recognised by employers and higher education institutions worldwide. We deliver 9.4 million exam scripts each year, with more than 90% of exam papers marked onscreen annually. As part of Pearson, Edexcel continues to invest in cutting-edge technology that has revolutionised the examinations and assessment system. This includes the ability to provide detailed performance data to teachers and students which helps to raise attainment. This specification is Issue 4. Key changes are sidelined. We will inform centres of any changes to this issue. The latest issue can be found on the Edexcel website: www.edexcel.com References to third-party material made in this specification are made in good faith. Edexcel does not endorse, approve or accept responsibility for the content of materials, which may be subject to change, or any opinions expressed therein. (Material may include textbooks, journals, magazines and other publications and websites.) Authorised by Roger Beard Prepared by Susan Hoxley Publications Code BH029073...
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...ABE Level 5 Diploma Unit Title: The Business Environment Learning Outcome: 1. Understand the significance of the environment on business activity. Please note that the content of this Lecture Guide is listed in its recommended teaching order, rather than in numerical order. Indicative Content: 1.1.1 Explain the business organisation as a transformation process: • Business organisations undergo a transformation process from inputs into outputs, using physical inputs plus finance and skills to produce both goods and services. • Use examples from both manufacturing and service sector organisations to illustrate the process. 1.1.2 Describe the different ways in which a business may structure its activities: • Organisational structures can be based on the functions of the organisation, its product ranges, or geographical regions. Alternatively some less hierarchical organisations may use a matrix structure, especially if the firm is project based. 1.2.1 Discuss the complexity, volatility and uniqueness of an organisation's environment: • The organisation in its environment has to face a wide range of internal and external influences which affect business activity. • The immediate or operational environment interacts with suppliers, competitors, the labour market and financial institutions. • The general or contextual environment consists of economic, political, legal, and social factors. Each functional area of the organisation may be affected. • Whilst organisations have some...
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...What Is Business Environment? Meaning: - The term Business Environment is composed of two words ‘Business’ and ‘Environment’. In simple terms, the state in which a person remains busy is known as Business. The word Business in its economic sense means human activities like production, extraction or purchase or sales of goods that are performed for earning profits. On the other hand, the word ‘Environment’ refers to the aspects of surroundings. Therefore, Business Environment may be defined as a set of conditions – Social, Legal, Economical, Political or Institutional that are uncontrollable in nature and affects the functioning of organization. Business Environment has two components: 1. Internal Environment 2. External Environment Internal Environment: It includes 5 Ms i.e. man, material, money, machinery and management, usually within the control of business. Business can make changes in these factors according to the change in the functioning of enterprise. External Environment: Those factors which are beyond the control of business enterprise are included in external environment. These factors are: Government and Legal factors, Geo-Physical Factors, Political Factors, Socio-Cultural Factors, Demo-Graphical factors etc. It is of two Types: 1. Micro/Operating Environment 2. Macro/General Environment Micro/Operating Environment: The environment which is close to business and affects its capacity to work is known as Micro or Operating Environment. It consists of Suppliers...
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...Unit title Level Credit value Unit code Unit review date Understanding Organisations and the Role of Human Resources 31 4 3HRC Sept. 2011 Purpose and aim of unit This core unit provides an introduction to the role of human resources and learning and development (HR/L&D) within an organisation and the environmental context. By the end of this unit the learner will have developed their understanding of how HR activities support an organisation’s strategy and assist the achievement of business objectives and how these are shaped by internal and external factors. This unit is suitable for persons who: are aspiring to, or embarking on, a career in HR/L&D are working in the field of HR/L&D in a support role and wish to develop their knowledge and skills have responsibility for HR/L&D activities and decisions within an organisation without a specialist function are employees or independent consultants within the field of HR/L&D wish to understand the role of HR/L&D in the wider, organisational and environmental context. Learning outcomes On completion of this unit, learners will: 1 Understand the purpose of an organisation and its operating environment. 2 Understand the structure, culture and functions of an organisation. 3 Understand how HR activities support an organisation. 1 Equivalents in Ireland = 5; Scotland = 6 CIPD unit 3HRC - Version 2 - 17.03.10 1 Unit content Indicative content is provided for each of the learning...
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...Developing an Analytical Job Evaluation System Free of Sex Bias A Systematic Approach to Pay Determination Free of Sex Bias Supplementary Book 1 Supplementary Book 2 Supplementary Book 3 Equal Pay Self-Audit Kit: A Proactive Approach for Employers to Achieve Equal Pay An Easy Read Guide is also available as a quick reference for all users including employers of small business and employees in general. The publications are available at the EOC website. Should you require clarifications on these publications or obtain the hard copies, please contact the Equal Opportunities Commission. Enquiries Fax Email Website : 2511-8211 : 2511-8142 : eoc@eoc.org.hk : www.eoc.org.hk AN ILLUSTRATION ON DEVELOPING AN ANALYTICAL JOB EVALUATION SYSTEM FREE OF SEX BIAS TABLE OF CONTENTS Page Introduction Part 1 Part 2 Part 3 Part 4 Analytical Job Evaluation Selection of Factors for Job Comparison Defining Factor Levels Developing a Scoring System Job Evaluation Template Part 5 Appendix 1 Appendix 2 Introducing a Gender-neutral Job Evaluation System Job Description Template Sample Factor Level Definitions 1 2 7 12 15 19 20 24 25 INTRODUCTION This is a supplementary book to the “Guide to Employers on Equal Pay between Men & Women”. The purpose is to illustrate the mechanism of an analytical job evaluation system that is free of sex bias. The tool presented is not intended to be a prescribed job evaluation methodology for compliance with...
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...What Is Business Environment? Meaning: - The term Business Environment is composed of two words ‘Business’ and ‘Environment’. In simple terms, the state in which a person remains busy is known as Business. The word Business in its economic sense means human activities like production, extraction or purchase or sales of goods that are performed for earning profits. On the other hand, the word ‘Environment’ refers to the aspects of surroundings. Therefore, Business Environment may be defined as a set of conditions – Social, Legal, Economical, Political or Institutional that are uncontrollable in nature and affects the functioning of organization. Business Environment has two components: 1. Internal Environment 2. External Environment Internal Environment: It includes 5 Ms i.e. man, material, money, machinery and management, usually within the control of business. Business can make changes in these factors according to the change in the functioning of enterprise. External Environment: Those factors which are beyond the control of business enterprise are included in external environment. These factors are: Government and Legal factors, Geo-Physical Factors, Political Factors, Socio-Cultural Factors, Demo-Graphical factors etc. It is of two Types: 1. Micro/Operating Environment 2. Macro/General Environment Micro/Operating Environment: The environment which is close to business and affects its capacity to work is known as Micro or Operating Environment. It consists of Suppliers...
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...to survive and prosper in this highly competitive business environment, a firm must engage in strategic planning process that could define its objectives and assess both the internal and external situation; allowing the company to formulate strategy, implement strategy, evaluate progress and able to make adjustment as necessary to stay on track. There are many approaches to strategic planning but typically a three-step process may be used: * Situation - evaluate the current situation and how it came about. * Target - define goals and/or objectives (sometimes called ideal state) * Path / Proposal - map a possible route to the goals/objectives The Strategic Planning Process Mission & Objectives Mission & Objectives Environmental Scanning Environmental Scanning Strategy Formulation Strategy Formulation Strategy Implementation Strategy Implementation Evaluation & Control Evaluation & Control Mission and objectives It describes the company’s business vision. It includes a firm values, purpose and goals that help to pursue future opportunities. Having a business vision helps firm’s leaders to define measurable financial and strategic objectives. Financial objectives involve measures such as sales target. Environmental Scan It involves the following components: * Internal analysis of the firm * Analysis of the firm’s industry (task environment) * External macro environment (PEST analysis) Having to define the internal analysis...
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...BSS003-2 Applied Integrated Business UNIT HANDBOOK 2013 – 2014 Contents 1. KEY INFORMATION 3 1.1 Introduction 3 1.2 Key Staff 3 1.3 BREO Site 3 1.4 Teaching location 4 1.5 Pod supervision 4 2. LEARNING OUTCOMES 4 3. TEACHING AND LEARNING STRATEGY 5 3.1 Approach to Learning 5 3.2 Group Work 5 3.3 Use of Technology 5 4. TRANSFERABLE SKILLS BEING DEVELOPED 6 5. ESSENTIAL AND RECOMMENDED READING 7 6. ASSESSMENT STRATEGY 7 6.1 Overview 7 6.2 Criteria for assessment 8 6.3 Quality of work 16 6.4 A note on Plagiarism 16 7. COURSE TIMETABLE 17 8. GUIDE FOR STUDENTS ON THE UNIVERSITY’S REGULATIONS 18 9. UIF Unit Information Form 19 Unit information form (UIF) 19 1. KEY INFORMATION Unit Title Applied Integrated Business Unit Number BSS003-2 Level of Study 2 CATS Points 60 Prerequisites This module can only be taken in conjunction with level 2 modules: SHR007-2 Leadership and Management AAF002-2 Management Accounting for Business MAR008-2 Marketing BSS003 -2 Management of Business Systems and Process/Operations 1.1 Introduction This unit continues the theme of integration which underpins the level one Business Studies Programme. It consists of projects based on real cases, which enable students to apply the theories and knowledge gained from the level 2 business units in a variety of realistic contexts – in service and production based organisations. The final project will be carried...
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...SYLLABUS INDIAN BUSINESS ENIRONMENT MBA–2nd SEMESTER, M.D.U., ROHTAK External Marks : 70 Time : 3 hrs. Internal Marks : 30 UNIT-I Nature, components and determinatnts of business environment; basic nature of Indian economic system; relation size and growth of public and private corporate sector, social responsibility of business; broad features of India's now economic policy. UNIT-II Trend and pattern of industrial growth; review of industrial policy developments; industrial licensing policy; liberalisation of the private sector; trends and issues in corporate management; growth and problems of the small scale sector; public sector reforms and privatisation the problem of industrial sickness; MRTP Act, SICA and Industrial Disputes Act. UNIT-III Development banks for corporate Sector (IDBI, IFCI, ICICI) - trends pattern and policy; regulation of stock exchanges and the role of SEBI; banking sector reforms, challenges facing public sector banks; growth and changing structure of non bank financial institutions; problem of non performing assets in Indian Banks. UNIT-IV Trend and pattern of India's foreign trade and balance of payments; latest EXIM policy-main features; policy towards foreign direct investment; globalisation trends in Indian economy; role of MNC's; India's policy commitments to multilateral insitiutions - IMF, World Bank and WTO. NOTE : The question paper will be set by the external examiners. The external examiner will set 8 questions...
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...PUNJAB TECHNICAL UNIVERSITY KAPURTHALA Scheme and Syllabus of Masters in Business Administration (MBA) Batch 2012 onwards By Board of Studies Business Administration Punjab Technical University Scheme of (MBA) Batch 2012 Onwards First Semester Course Code Course Title Load Allocation L T P 4 1 4 4 4 4 3 3 28 1 1 1 1 2 2 7 - Contact Hours: 36Hrs. Marks Distribution Internal 40 40 40 40 40 40 40 280 External 60 60 60 60 60 60 60 50 470 Total Marks 100 100 100 100 100 100 100 50 750 Total Marks 100 100 100 100 100 100 100 50 750 Total Marks 100 100 100 100 100 100 100 50 750 Credits MBA 101 MBA 102 MBA 103 MBA 104 MBA 105 MBA 106 * MBA 107 * MBA 108 Principles and Practices of Management Organizational Behaviour Accounting for Management Quantitative Techniques Managerial Economics Business Communication Information Technology for Management Viva Voce Total Course Title 5 5 5 5 5 5 5 2 37 Credits Second Semester Course Code Contact Hours: 34 Hrs Load Marks Distribution Allocation L T P Internal External 4 1 40 60 4 1 40 60 4 4 4 4 3 27 1 1 1 1 6 40 40 40 40 40 280 60 60 60 60 60 50 470 MBA 201 MBA 202 MBA 203 MBA 204 MBA 205 MBA 206 BTHU 101* MBA 207 Business Environment Production and Operation Management Human Resource Management Marketing Management Financial Management Research Methodology Human Values and Professional Ethics Viva Voce Total Course Title 5 5 5 5 5 5 3 2 35 Credits Third Semester Course Code Load Allocation L T P 4 1 4 4 4 4 4 3 27 1 1 1 1 1 6 Marks...
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...Assignment front sheet Qualification | Unit number and title | BTEC Higher National Diploma – Business Management | Unit 1 – The Business Environment | Student name | Assessor name | Mohammed Arif | Mary EC Zafra | Date issued | Completion date | Submitted on | 19/11/2015 | 17/12/2015 | 17/12/2015 | | | Assignment title | BE1: Assignment 2/2 The Business in an Economic, Cultural and Global Environment. (LO3 & LO4) | ------------------------------------------------- Learning Outcome | Assessment Criteria | In this assessment you will have the opportunity to present evidence that shows you are able to: | Task no. | Evidence(Page no) | LO 3 Understand the behaviour of organisations in their market environment | 3.1 | Explain how market structures determine the pricingand output decisions of businesses | | | | 3.2 | Illustrate the way in which market forces shapeorganisational responses using a range of examples | | | | 3.3 | Judge how the business and cultural environmentsshape the behaviour of a selected organisation | | | LO4 Be able to assess the significance of the global factors that shape national business activities. | 4.1 | Discuss the significance of international trade to UK business organisations | | | | 4.2 | Analyse the impact of global factors on UK business organisations | | | | 4.3 | Evaluate the impact of policies of the European Union on UK business organisations. | | | Learner declaration | I certify that the work...
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...with 4 Business divisions, each running multiple Business Units. The Divisions are labelled A, B, C and D with D being the one not matured and has an unstable income flows. Division A is most concentrated with 40 business units whereas Division D is least concentrated with only 5 business units. All expect units 6 and 7 of Division B vows to have management with the required abilities and skills to organize the business operations effectively. Each business unit maintains all its recording and proceeds of transactions, general ledger and other accounting information at the business unit level. Of the many business units, few are to meet the Statutory Audit requirement by the competent state authority. The management teams meet up periodically to discuss the development and performance of business units and divisions in particular along with regular meetings with management at the consolidated level. All activities and performance indicators are adjusted for changes in the business environment and outlook. Alongside the regular meet-ups, Corporate Management team examines the business operations and financial results primarily through 2 key performance indicators. 1. Revenue of each business unit 2. Earnings before taxes Certain business units encounter several problems which lead to disturbing performance indicators. Division D tends to have the highest per Unit revenue mainly because no as such problem has been identified in the business operation at the Unit level in Division...
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...SYLLABUS INDIAN BUSINESS ENIRONMENT MBA–2nd SEMESTER, M.D.U., ROHTAK External Marks : 70 Time : 3 hrs. Internal Marks : 30 UNIT-I Nature, components and determinatnts of business environment; basic nature of Indian economic system; relation size and growth of public and private corporate sector, social responsibility of business; broad features of India's now economic policy. UNIT-II Trend and pattern of industrial growth; review of industrial policy developments; industrial licensing policy; liberalisation of the private sector; trends and issues in corporate management; growth and problems of the small scale sector; public sector reforms and privatisation the problem of industrial sickness; MRTP Act, SICA and Industrial Disputes Act. UNIT-III Development banks for corporate Sector (IDBI, IFCI, ICICI) - trends pattern and policy; regulation of stock exchanges and the role of SEBI; banking sector reforms, challenges facing public sector banks; growth and changing structure of non bank financial institutions; problem of non performing assets in Indian Banks. UNIT-IV Trend and pattern of India's foreign trade and balance of payments; latest EXIM policy-main features; policy towards foreign direct investment; globalisation trends in Indian economy; role of MNC's; India's policy commitments to multilateral insitiutions - IMF, World Bank and WTO. NOTE : The question paper will be set by the external examiners. The external examiner will set 8 questions in all, selecting not more...
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...ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD (Department of Business Administration) Course: Human Resource Management (5532) Level: MBA Semester: Autumn, 2010 CHECKLIST This packet comprises the following material: 1) 2) 3) 4) 5) Note: Text book Assignments # 1 & 2 Course outlines Assignment 6 forms (2 sets) Assignment submission schedule In this packet, if you find anything missing out of the above-mentioned material, please contact at the address given below: The Mailing Officer Mailing Section, Block # 28 Allama Iqbal Open University, Sector H/8, Islamabad. Tel: (051) 9057611, 9057612 Mohammad Majid Mahmood Bagram Course Coordinator ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD (Department of Business Administration) WARNING 1. 2. PLAGIARISM OR HIRING OF GHOST WRITER(S) FOR SOLVING THE ASSIGNMENT(S) WILL DEBAR THE STUDENT FROM AWARD OF DEGREE/CERTIFICATE, IF FOUND AT ANY STAGE. SUBMITTING ASSIGNMENTS BORROWED OR STOLEN FROM OTHER(S) AS ONE’S OWN WILL BE PENALIZED AS DEFINED IN “AIOU PLAGIARISM POLICY”. Course: Human Resource Management (5532) Level: MBA Semester: Autumn, 2010 Total Marks: 100 Pass Marks: 40 ASSIGNMENT No. 1 (Units: 1–4) Q. 1 Why HR is called the most important asset and competitive advantage of any organization in the world? (20) Your Solutions 2 Helping Material HR and Competitive Advantage In order to have an effective competitive strategy, the company must have one or more competitive advantage, factors that allow an...
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