Business Objective This article covers different business objectives such as profit, growth and sales maximisation. Profit maximisation It is vitally important in the long run. It is usually adopted by risk seekers / lovers. It is associated with the owners of the company. Where MC = MR i.e. marginal cost equals marginal revenue. The revenue raised from the selling an extra [...]

Organisational structures Unitary form ‘U form’ It is deemed to be a weak structure as activities extend over several markets. It shows how to monitor performance of function divisions. CEO undertakes long term strategic and operating functions. Departments are organised in a functional line, all report to CEO. Multidivisional form ‘M form’ Problems in allocating funds between divisions Easier to [...]

Management Styles “Management is the process of achieving organisational objectives, within a changing environment, by balancing efficiency, effectiveness and equity, obtaining the most from limited resources, and working with and through other people” Naylor, J (1999) “Managers are the specialised ‘experts’ within work organisations who rationally analyse the tasks for which the organisation was set up” Watson (2002) “property and [...]

Corporate Social Responsibility “Corporate Social Responsibility is the continuing commitment by businesses to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large” (“Making Good Business Sense” by Lord Holme and Richard Watts). CSR is about how companies manage the [...]

Managing Change The expression “change” means that an organisation shifts from one state to another (Ford and Ford 1995).  Apparently, the human race didn’t know that until 1995 when these two geniuses discovered it. There is nothing new about organisational change, but it is fair to note that modern organisations have to change more often and some face changes of [...]