...Task 1 An organization is an entity that exists to achieve a purpose through collective efforts of the people who work in for it. Organizations can be described as systems which are affected by their environment, have a structure that has both formal and informal elements. (Armstrong, 2012) An organization is formally defined as a collection of people working together in a division of labour to achieve a common purpose. This describes a variety of clubs, voluntary, organizations and religions besides as well as entities such as small and large businesses, labour unions, schools, hospitals and government agencies. (G.Hunt et al, 2003) An organization is an arrangement of people pursuing common goals and achieving results following the standard and rules of the business. There are various levels of management and division of responsibility inside an organization each working through their own tasks. Private Limited Company- This is a company which is owned and controlled by shareholders who know each other, they can be friends and relatives. There is no minimum capital required to start up this type of business and their shares are not sold on the stock exchange market. Benefits of being a Private Limited Company (PVT LTD) * In this type of organization the shares are sold to large number of individuals. This leads to large sum of capital which will result in expansion. * All shareholders have limited liability- It means if there is a loss in the business the owners...
Words: 5480 - Pages: 22
...Outcomes) 41 7.6: Best 5 Bs (Leadership Outcomes) 45 GLOSSARY OF TERMS AND ABBREVIATIONS APP: Annual Planning Process 5Bs: AtlantiCare’s five “Bests” or performance excellence commitments – Best People and Workplace, Best Quality, Best Customer Service, Best Financial Performance, Best Growth ARMC : AtlantiCare Regional Medical Center ASC: Ambulatory Surgery Center ASPP: Annual Strategic Planning Process A AAAHC: Accreditation Association for Ambulatory Health Care AAI: AtlantiCare Administrators Incorporated AAP: Annual Action Plan B BFP: Best Financial Performance Big Dots: The system-level measurements or targets for each of the 5 Bs (performance excellence commitments). Business units (and their departments) have measurable action plans and goals that align with/support the Big Dots. ABCs: AtlantiCare’s Best Customer Service Standards– AtlantiCare’s customer service training program. BMI: Body Mass Index ABH: AtlantiCare Behavioral Health BOT: Board of Trustees ACS: American College of Surgeons BP: Blood Pressure ACR: American College of Radiology...
Words: 41167 - Pages: 165