CIMA E1 Course Notes. Chapter 1. Introduction to Organisations

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "CIMA E1 Course Notes. Chapter 1. Introduction to Organisations"

Transcription

1 CIMA E1 Course Notes Chapter 1 Introduction to Organisations

2 1. Organisations Introduction An organisation is a social group of people that is organised and managed in a way that aims to follow a corporate goal or need. All types of businesses follow a structure that is controlled by management who determine how the business performs particular activities and the key roles and responsibilities of it's members. 2. Types of organisation The economy of a country can generally be split into two sectors: the private sector and the public sector. Organisations within these sectors can be profit seeking or not for profit. Profit seeking organisations Profit seeking organisations operate to maximise returns for owners or shareholders. Therefore, profitability is their primary objective. Such organisations can be split into two main groups which are distinguished by the extent of liability the owners have for company debts. Unincorporated the business owners and the business itself hold the same legal identity. This means the owners are held personally responsible for the debts a company may incur. Therefore they are considered to have

3 unlimited liability for the business s debts. The two main types of ownership in this category are: Sole trader one sole owner of the business (wholly liable for debts) Partnership a collection of owners working together (jointly liable for debts) Incorporated the business owners and the business itself have a separate legal identity. This means the owners are not held personally responsible for the debts a company may incur. Therefore they are considered to have limited liability for the business s debts. The two main types of ownership in this category are: Private limited companies shares cannot be issued to the public. Often a smaller company such as a market town retailer. However, can be larger companies looking to retain a high degree of control. For example: Walkers Snack Foods Ltd and New Look Retail Ltd Public limited companies shares can be issued to the public. Usually larger companies who wish to increase funding for business ventures through a public share offering. For example: Tesco Plc and British Airways Plc Not for profit organisations Not for profit organisations do not set out to make a profit for their owners. This does not mean that they are unprofitable, but their aim is to provide a service to their members and subscribers rather than maximise returns for owners. Like profit seeking companies they aim to operate efficiently and to be cost effective. Not for profit organisations include trade unions, charities, co-operatives, mutual organisations, clubs and societies and educational establishments. Not for profit organisations exists in both the public and private sector: Public sector - owned by the state and are responsible to the government for their business activities. Public sector organisations can be in the form of a state owned industry or a government run department. For example, The NHS and The Forestry Commission Private sector similar structure to profit seeking companies in that they are owned by investors and responsible to the shareholders/owners. However, their goals and objectives do not surround profit maximization, rather focus on other goals such as ethical standards and service delivery. For example, Oxfam and Cancer Research UK. 3. Stakeholders As we have seen a profit seeking organisation has a primary responsibility to maximise wealth for its shareholders. However, there are a number of

4 groups which have an interest in how an organisation operates. These groups are called stakeholders. Stakeholders can affect or be affected by an organisations strategy and policies. Therefore, it is important for all organisations to understand their stakeholders and the stakeholders interests. Examples of stakeholders include: customers, employees, suppliers, creditors, debtors, the community, government and unions. Each stakeholder will exert a different level of influence over how an organisation operates. This influence can be positive (supporting or contributing) or negative (blocking or opposing). In the example below the influence of customers is considered: Supporting leaving positive feedback/reviews, championing the brand, extending the reach of the product or service to new customers (friends and family etc.) Opposing leaving negative feedback/reviews, switching to a competitor Participating suggestions for improvement (Research & Development stage or continuous) Classifying Stakeholders To inform decision making and policies it is crucial that an organisation classifies its stakeholders into various groups. This can be done in a number of ways; for example, the organisation can determine whether the stakeholder is internal, external or connected. Internal stakeholders who reside within the company, e.g. managers, employees, board members. External stakeholders who reside outside of the company and are not closely connected with the company s core offering, e.g. government, community, pressure groups Connected stakeholders who are closely connected to the company s core offering, e.g. customers, shareholders and suppliers

5 Mendelow s matrix An additional tool for analysing stakeholders is Mendelow s matrix. The tool recognises that each stakeholder or stakeholder group will have a different level of interest in business activities, as well as a different level of power over how the company operates. Mendelow suggests these criteria (as can be seen in the axes below) are critical in informing how a business builds its relationship with stakeholders and how this should inform decision making. a) Low priority stakeholders with a low level of interest and low power require the least consideration when making business decisions. An example of such stakeholder is an independent contractor hired for intermittent

6 building work. These stakeholders should be monitored, but require minimal effort. b) Keep informed stakeholders with a high level of interest and low power need to be kept informed when making business decisions. An example is the local community or community representatives. They have no great influence on business decision making, but may influence other more powerful stakeholder groups, by protesting or lobbying etc. Therefore, they should be kept informed of relevant decisions and involved in the decision making process where necessary. For example: holding community meetings/outreach work and keeping the community informed through leafleting and newsletters. c) Keep satisfied - stakeholders with a low level of interest and high power should be kept satisfied during business decision making. An example could be national government. Such groups may have no direct interest, but have the potential to move to (d) if the business activity concerns or involves them. Stakeholders in this sector should be monitored and kept involved in the decision making process. For example: consultation with government on environmental issues and complying with regulations. d) Key players - stakeholders with a high level of interest and high power must be consulted with throughout the decision making process. An example, for a profit seeking, private sector organisation, would be shareholders. It is critical to keep this group informed and involve them in decision making. For example: conducting regular board meetings where shareholders views can influence decision making and updating shareholders regularly with strategic plans. Stakeholder conflicts It is crucial that an organisation realises its stakeholders have different sets of need and expectations. These needs and expectations may result in conflict between stakeholders. Therefore, it is critical to understand such conflicts when making decisions and to resolve these wherever possible. Some examples of stakeholder conflicts are:

7 Cyert and March propose four ways a company can look to resolve stakeholder conflict: Satisfying holding negotiations between key stakeholder groups and arriving at an accepted compromise Sequential attention focussing on stakeholder groups in order based on the importance of action Side payments when a stakeholders needs cannot be met initially they are compensated in some way as a compromise Exercise of power when a compromise or action cannot be agreed upon it is resolved by a senior figure who exercises their power to force through a decision Stakeholders and not for profit organisations As discussed in a profit seeking organisation the shareholders will be the key stakeholders. However, for a not for profit organisation other stakeholders will be most important. Due to the competing demands of a variety of stakeholders, the organisation must manage expectations and balance demands. Below is an example of a charity, its stakeholders and their competing demands: Stakeholders in not for profit companies exercise influence in the following ways: Objectives and goals without the need for objectives based on profit, goals and objectives may vary depending on stakeholder influence. For

8 example, donors may require objectives based on delivery of funds to beneficiaries Strategies in terms of how the company operates as a whole, again profitability will not be a key strategy. However, there may be a focus on efficiency and effectiveness of service and also compliance with ethical standards Management style and practice how employees are treated is likely to be of critical importance given the nature of low paid employees and volunteers. There may be an impetus to manage in an open and democratic style with few levels of hierarchy Mintzberg Academic Henry Mintzberg identified 5 key areas of a business, each with their own unique contributing factors towards effective production and operations. Like the Cousins strategic wheel (discussed later in the chapter) they must all be considered when aligning operational strategy as they are all interlinked and thus will affect each other: The strategic apex control the direction and strategy of the firm, they are usually the directors and senior managers, the middle line then take these goals/strategies and turn them into tasks and jobs that they then designate to the operational core who then conduct the day to day operational jobs such as procurement and sales. These three categories are assisted by the technostructure that design and standardise work processes and outputs (such as quality control etc.) these may be roles such as accountants and engineers. Finally the support staff make up the rest of the organisation, these workers supply the general infrastructure that allows the businesses to operate in a sustained and maintainable environment; this encompasses many roles from legal teams to canteen/cleaning staff.

9 Some functions such as finance can take on roles in two different areas in this case (i) technostructure rules for company approach to finance and budgeting (ii) support staff providing financial information to both internal and external stakeholders. 4. Dimensions of Organisations There are two different types of dimensions in organisational design; structural and contextual. Structural dimensions describe the internal characteristics of an organisation, whereas contextual dimensions focus on everything that shapes the structure of the organisation. Both types of dimensions have a number of factors that impact the design structures of organisations: Structural Dimensions: Specialisation Specialisation focuses on grouping. Organisations often split into departments and this is done through specialisation. Specialisation encourages efficiency because it may require less training to become an efficient worker, thus encouraging an increase in productivity. Formalisation Formalisation is about the number of rules, policies and procedures that a business follows. Formalisation is more commonly found in highly regulated working environments such as hospitals and nuclear power stations where health and safety is at a high risk. Whilst formalisation ensures that the organisation is following legal standards and safety regulations, it can mean that the organisation is restricted to change. Size The structure of an organisation can be highly dependent on the size of the organisation itself. Smaller company's such as as single retail store or a restaurant tend to hold a rather simple structure. Larger organisations tend to acquire a more formal structure where tasks are highly specialised and detailed rules and leadership influence work procedures. As a result, the basic design dimensions of larger organisations are generally formalised, specialised, standardised and complex. Contextual Dimensions: Technology Technology can play an important role in the structure of an organisation, in addition to determining how work flows through a business. With the introduction of computer networking, businesses encouraged their

10 employees to work as groups. As a result, employees were not restricted to work in the same room or even the same building. Technology is also impacting businesses in a way that can eliminate unnecessary jobs such as file clerks, saving valuable time and money to businesses. At the same time, this also means that there is a need for IT technicians as a department to maintain and grow the computer network. As technology proceeds to take over many jobs in the workplace, the form of organisational structure also changes within it. Environment The business environment may have an impact on a company's organisational structure. Environments can be described as either stable or dynamic: Stable Environment In a stable environment, there are minimal or subtle changes. The business is able to predict the organisational performance and may feel confident with the consumers' wants and needs because they are likely to remain consistent for a long period of time. An example of an organisation that may be in a stable environment is a manufacturer of cleaning products such as Nicols. Dynamic Environment In a dynamic environment, the organisation performance tends to be less predictable. Customers' desires are continuously changing, resulting in great difficulty for businesses to keep up with such high demands. It is important for businesses in dynamic environments to keep technology up-to-date, in order to maintain some control. An example of an industry that functions in a dynamic environment is electronics. With technology continuously developing, the competition for electronics industries continues to build competitive pressures, a long with the changing desires of customers. Generally, organisations operating in stable environments tend to use a more automated structure. This approach ensures efficiency, to cope with the minimal changes that will benefit the long-term performances. In contrast, organisations operating in dynamic environments are more likely to use a more integrated structure because it allows the organisation to respond to change much more productively. Culture Business culture is a key element in business relating to the behaviour, ethics, etiquette, communication, social media and more. It can have a strong impact on the organisational structure and strategic direction of a business. Culture plays a significant role in management decisions and

11 choices, along with business functions. Businesses using a hierarchical structure, will reflect a culture where freedom is discouraged. On the other hand, if a company's organisational structure is decentralised, the culture is likely to be more independent and personalised as a result of the shared power and authority. 5. Organisational Structure Organisational structure is the arrangement of roles, responsibilities and reporting relationships within an organisation. This arrangement is designed to ensure the most efficient and beneficial coordination of activities, management of people and measurements and control, according to the activities of the organisation. There are four main types of organisational structures: Functional Functional organisational structure is a structure where the organisation is grouped into functional areas, such as IT, marketing and human resources. A functional structure allows employees to focus on their most knowledgeable and skilled subject. It can be argued that functional structures allow greater operational efficiencies whereby employees with shared skills and knowledge are grouped together. Divisional Divisional organisational structure like functional structures, consists of several teams (divisions) focusing on a single product or service line. However, it differs from a functional structure because divisions are more independent than departments. Geographical Geographic organisational structure is typically used in companies with operations that are distributed over a large region. For example, national or international offices. Regional managers are given complete authority over their region. Matrix Where the organisation is divided into multiple reporting lines; or a structure where individuals may have more than one superior is classified as a matrix structure. For example, a manufacturer of consumer goods may have three divisions: foods, personal care and cleaning products. It may also be divided into three structural divisions such as sales, marketing and distribution. Each employee will therefore work in two divisions, one functional and one product. In this case, an employee might be a unit of

12 the sales division as well as the foods division, both of which are controlled by two different managers. 6. Forms and Functional Boundaries Vertical and Horizontal Structures As explained earlier, an organisations structure determines how roles are allocated, how work is divided and who is in position of authority. Evidently, there are a number of different structures that a business can adopt. To explain further, the structure that a business chooses to operate in can depend on the business goals and objectives. Most companies operate with a vertical structure, however some may favour the horizontal structure. Vertical Vertical organisational structures focus on a strict hierarchical layering system, meaning that power of authority remains at the top of the system. This may apply to the organisation as a whole or to a specific project, team or department within the company. Employees in this type of structure report to the person directly above them. Advantages of Vertical Structures: Efficient Decisions can be made quickly Responsibility is in the hands of the person in the highest chain of command. Clearly defined duties Specialised tasks: less need to learn new tasks and skills Disadvantages: Strict: many rules to follow Employees may feel that their input isn't important. Horizontal Horizontal organisational structures allow employees across horizontal lines to have similar input into how the organisation is run. This means that the organisation holds a less-defined chain of command where employees have no set duties; instead employees might work in teams where equal input is encouraged. Instead of employees reporting to a single person of authority, there is the option to report to several supervisors.

13 Advantages: Fewer rules-based Employees have more power: encouraging employee satisfaction Employees feel a stronger sense of identification: part of a team. Disadvantages: Less efficient A lot of time and resources spent making decisions Bigger need to learn skills: high stress levels for employees Closed and Open Systems Systems are generally described as a group of interacting units or elements that have a common purpose. Systems in organisations can be classified as open or closed systems: Open systems Open systems interact with other systems or the outside environment. Open systems have open boundaries that allow feedback exchanges from inside and outside the business. The controllers of open systems concentrate on their external and internal environment and customer needs and reactions. Unlike closed systems, open systems are not restricted to one specific way to accomplish goals and they can reach similar results with different conditions and operations. Closed systems Closed systems are not determined by external influences like the environment, external resources, competition and suppliers to name a few. This type of system allows managers and organisational theorists to analyse problems through examination of the internal structure of a business with little influence of the external environment. Outsourcing Outsourcing is the process of 'going out' to find the 'source' of what a business might need. When businesses require a certain expertise or skill that they may not have within their organisation, one option is to turn to external sources. It may be the case that, these tasks can be performed by in-house employees however there may be financial advantages that come from outsourcing.

14 An example of outsourcing is an organisation using an external call centre company that may even be located overseas. The main reason to outsource is because it often saves organisations a substantial amount of money. Many companies, like call centres, are able to work for a considerable amount cheaper because they don't have to provide benefits and incentives; whilst also reducing risks and office space. Another advantage of outsourcing is the fact that companies can seek for the best experts for specialised work, without having to train their current employees, which may take up a lot of time. Of course, there are some disadvantages to outsourcing. An obvious drawback is the fact that the business will have less direct oversight and control over the product or service that it is purchasing, which can be a massive threat towards the company and its customer. Outsourcing overseas can also be a problem, one major problem is the language barrier. Security can also create issues for the organisation that is outsourcing it's private information. Alliances Alliances in business is the process of two or more firms joining together to combine talents or strengths in order to grow. Alliances tend to have similar goals for a specific purpose such as improving customer service and reducing costs. Both businesses usually have a team that shares the agreement of sharing risk and opportunity. There are five basic types of alliances: 1. Sales alliances: selling products or services that compliment one another. 2. Solution-specific: an agreement to develop and sell a particular business solution together. 3. Geographic-specific: an agreement to market products and services in a particular geographical location together. 4. Investment: the agreement to combine funds for shared investment. 5. Joint venture: an agreement to share control, profit and loss in a particular economic undertaking. Small business wanting to grow look for alliances because such partnerships can quickly and cheaply provide access to technology, expertise, marketing, production, distribution and other capabilities. The opportunity to grow is clear within alliances because new markets are reached because each partner's distribution channels are open to market.

15 Virtual Network Structures The virtual network structure is an organisation structure where a firm outsources a number of its major processes to different companies and coordinates their activities from it's headquarters to gain proficiency in the competitive market. Managers in a virtual network structure spend a lot of time coordinating and controlling external relations. The virtual network structure lowers costs and encourages flexibility because it uses the help of external (usually larger) companies. However, a business using a virtual network structure can lose control over the processes that they may assign to others.

16 Free Study Texts Free, high quality and concise online Study Texts for all subjects Study Text also available as a book on Amazon, and ebook for download on Amazon and the ibookstore Objective Test Question Packs Objective tests linked to the Study Texts on a chapter by chapter basis practise CIMA exam style questions as you complete each chapter of the text Mock Exam Objective Tests Mock Exams Tests designed to emulate the 2015 CIMA exams Perfect exam practise! Video Tuition Guides Comprehensive online tuition videos teaching you the full exam syllabus in a clear, concise and understandable manner Case Study Exam Courses Join our online courses for the operational, managerial and strategic case study exams including: 2 Full Day Interactive online Masterclasses to support and focus your study Full course notes Course videos You full guide to passing the case study exams Exam technique video guide designed to maximise your marks Video analysis of the latest Preseen Case Study 3 full, computer-based mock exams based around the latest preseen and designed to emulate the real CIMA computer exams Marking and with detailed feedback from our team of experienced markers Student forum so our expert case study teams can answer all your questions All with our unique pass guarantee scheme Or buy any element of the course individually it's up to you! Find out more at

0450 BUSINESS STUDIES

0450 BUSINESS STUDIES CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education MARK SCHEME for the May/June 2014 series 0450 BUSINESS STUDIES 0450/11 Paper 1 (Short Answer/Structured Response),

More information

Types of Business Organisation

Types of Business Organisation Types of Business Organisation Revision Presentations 2004 Introduction A business is always owned by someone. This can just be one person, or thousands. So a business can have a number of different types

More information

Specific Responsibilities Associated Performance Measures 1. Excellence in Commercial Management 2. Excellence in Contract Performance

Specific Responsibilities Associated Performance Measures 1. Excellence in Commercial Management 2. Excellence in Contract Performance OUR VISION is to be recognised as the leader in infrastructure service provision POSITION DESCRIPTION Commercial Manager National Maintenance Date reviewed: April 2012 EMPLOYEE NAME: Job Purpose: To achieve

More information

A COLLABORATIVE FRAMEWORK FOR GUIDING POST-MFA ACTIONS. MFA Forum

A COLLABORATIVE FRAMEWORK FOR GUIDING POST-MFA ACTIONS. MFA Forum FOR GUIDING POST-MFA ACTIONS MFA Forum March 2005 CONTENTS The Context... 1 The MFA Forum... 1 The Need for Action... 2 Shared Responsibilities... 3 Overarching Principles... 5 The Roles of Individual

More information

OCR Business Studies for AS

OCR Business Studies for AS Size and structure of a business 5 Revision questions (38 marks; 40 minutes) 1 Analyse why both small and large businesses can operate successfully within the same environment. (8) Reasons why small and

More information

CIMA F3 Course Notes. Chapter 3. Short term finance

CIMA F3 Course Notes. Chapter 3. Short term finance CIMA F3 Course Notes c Chapter 3 Short term finance Personal use only - not licensed for use on courses 31 1. Conservative, Aggressive and Matching strategies There are three over-riding approaches to

More information

Objective of General Purpose Financial Reporting

Objective of General Purpose Financial Reporting Statement of Accounting Concepts SAC 2 (8/90) Objective of General Purpose Financial Reporting Prepared by the Public Sector Accounting Standards Board of the Australian Accounting Research Foundation

More information

13. Identifying stakeholders and their 1relevance

13. Identifying stakeholders and their 1relevance 13. Identifying stakeholders and their 1relevance All successful public relations work is built on the foundation of good working relationships. These relationships foster trust and open communication,

More information

Relationship Manager (Banking) Assessment Plan

Relationship Manager (Banking) Assessment Plan 1. Introduction and Overview Relationship Manager (Banking) Assessment Plan The Relationship Manager (Banking) is an apprenticeship that takes 3-4 years to complete and is at a Level 6. It forms a key

More information

E3- Strategic Management Practice Test Answers

E3- Strategic Management Practice Test Answers E3- Strategic Management Practice Test Answers The Practice Test can be viewed at http://www.pearsonvue.com/cima/practiceexams/ These answers have been provided by CIMA for information purposes only. In

More information

Financial Management

Financial Management Different forms business organization Financial Management Sole proprietorship Partnership Cooperative society Company Private limited Vs Public limited company Private co min- two and max fifty, Pub Ltd

More information

A Guide to Business Collaborative Contracting

A Guide to Business Collaborative Contracting Major Projects Ready A Guide to Business Collaborative Contracting INFORMED / CONNECTED / COMPETITIVE / SUSTAINABLE MAJOR PROJECTS READY A GUIDE TO BUSINESS COLLABORATIVE CONTRACTING FOR SERVICES INDUSTRIES

More information

DESIGNING ORGANISATION STRUCTURES

DESIGNING ORGANISATION STRUCTURES DESIGNING ORGANISATION STRUCTURES John van Rijn INDEVELOPMENT DESIGNING ORGANISATION STRUCTURES Any part of this publication may be fully reproduced or translated provided that the source and author are

More information

SHARED SERVICES Strategic Framework. Dexter Whitfield

SHARED SERVICES Strategic Framework. Dexter Whitfield SHARED SERVICES Strategic Framework Dexter Whitfield Contents A progressive approach Public sector shared services typology Principles for shared services Potential benefits of shared services Shared services

More information

Scheme of Work Units 1 and 2: Setting up a Business and Growing as a Business an Integrated Approach

Scheme of Work Units 1 and 2: Setting up a Business and Growing as a Business an Integrated Approach GCSE Business Studies Scheme of Work Units 1 and 2: Setting up a Business and Growing as a Business an Integrated Approach Copyright 2012 AQA and its licensors. All rights reserved. The Assessment and

More information

2013 HSC Business Studies Marking Guidelines

2013 HSC Business Studies Marking Guidelines 2013 HSC Business Studies Marking Guidelines Section I Multiple-choice Answer Key Question Answer 1 D 2 B 3 C 4 A 5 A 6 B 7 D 8 D 9 C 10 D 11 B 12 C 13 C 14 D 15 A 16 A 17 B 18 A 19 D 20 C 1 Section II

More information

This strategy has been developed by Corporate Procurement in line with The Council s high level priorities which are as follows:-

This strategy has been developed by Corporate Procurement in line with The Council s high level priorities which are as follows:- PROCUREMENT STRATEGY 1 Introduction Introduction to the Corporate Strategy for Procurement This document sets out the Council s Corporate. Its purpose is to provide Officers, Members, Contractors and the

More information

Outsourcing. Knowledge Summary

Outsourcing. Knowledge Summary Knowledge Summary Outsourcing P&SM professionals should have the knowledge and skills required to manage the outsourcing process and to advise colleagues of the most appropriate solution to obtain best

More information

T4 Case study - TOPCIMA. Strategic Analysis. YJ Oil and Gas. Nick Best

T4 Case study - TOPCIMA. Strategic Analysis. YJ Oil and Gas. Nick Best T4 Case study - TOPCIMA Strategic Analysis YJ Oil and Gas Nick Best with www.astranti.com Welcome Welcome to Nick Best s T4 Case Study strategic analysis For those of you who don t know me, I ve tutored

More information

CHAPTER 6: Types of Business Organisations

CHAPTER 6: Types of Business Organisations CHAPTER 6: Types of Business Organisations Key Revision Points Organisations and their environment Business organisations are extremely diverse in their form and functions, even within a single business

More information

Mark Scheme. Business Studies BUSS4. (Specification 2130) Unit 4: The Business Environment and Change

Mark Scheme. Business Studies BUSS4. (Specification 2130) Unit 4: The Business Environment and Change General Certificate of Education (A-level) January 2013 Business Studies BUSS4 (Specification 2130) Unit 4: The Business Environment and Change Mark Scheme Mark schemes are prepared by the Principal Examiner

More information

3 FORMS OF BUSINESS ORGANISATION

3 FORMS OF BUSINESS ORGANISATION 3 FORMS OF BUSINESS ORGANISATION Introduction Legal Forms of Business - Sole Proprietorship - Partnership - Company - Not-for-Profit Organisation Factors Influencing Organisation Structure - Set-up Time/Cost

More information

Suite Overview...2. Glossary...8. Functional Map.11. List of Standards..15. Youth Work Standards 16. Signposting to other Standards...

Suite Overview...2. Glossary...8. Functional Map.11. List of Standards..15. Youth Work Standards 16. Signposting to other Standards... LSI YW00 Youth Work National Occupational Standards Introduction Youth Work National Occupational Standards Introduction Contents: Suite Overview...2 Glossary......8 Functional Map.11 List of Standards..15

More information

Self-Help Kit. Limited Company. Guidance Manual. The contents of this Manual have been approved by H M Williams Chartered Accountants

Self-Help Kit. Limited Company. Guidance Manual. The contents of this Manual have been approved by H M Williams Chartered Accountants Self-Help Kit Limited Company Guidance Manual The contents of this Manual have been approved by H M Williams Chartered Accountants 3 How to use this Kit This Lawpack Kit can help you achieve an important

More information

What it examines. Business Working Responsibly CR/Sustainability Governance Section

What it examines. Business Working Responsibly CR/Sustainability Governance Section Business Working Responsibly CR/Sustainability Governance Section 1. Corporate Responsibility/ Sustainability Governance What it examines The Corporate Responsibility (CR)/Sustainability Governance area

More information

CHAPTER 11 INTERNATIONAL STRATEGY AND ORGANIZATION

CHAPTER 11 INTERNATIONAL STRATEGY AND ORGANIZATION CHAPTER 11 INTERNATIONAL STRATEGY AND ORGANIZATION LEARNING OBJECTIVES: 1. Explain the stages of identification and analysis that precede strategy selection. 2. Identify the two international strategies

More information

Job description - Business Improvement Manager

Job description - Business Improvement Manager Job description - Business Improvement Manager Main Purpose of job The post has lead responsibility for optimising operational performance within the Operations directorate, and across the Society for

More information

qlegal Toolkits What are the key considerations in setting up a limited company in the UK?

qlegal Toolkits What are the key considerations in setting up a limited company in the UK? Disclaimer: This toolkit describes the law in general terms. It is not intended to provide legal advice on specific situations and should not be relied upon as a source of legal advice. Date produced:

More information

Work Profile. Overview of Program

Work Profile. Overview of Program Work Profile Position Title: Marketing Coordinator Position Number: Responsible To: Council Program: Classification Level: Team Leader- Strategic Marketing Marketing & Creative Services L4 Overview of

More information

What s the best legal structure?

What s the best legal structure? Playing by the rules: What s the best legal structure? Background You have a number of options when defining the legal structure of your group or organisation. What is a legal structure? By legal structures

More information

FIN 3000. Chapter 1: Principles of finance. Liuren Wu

FIN 3000. Chapter 1: Principles of finance. Liuren Wu FIN 3000 Chapter 1: Principles of finance Liuren Wu Overview 1. What is finance? 2. Three types of business organizations 3. The goal of the financial manager 4. The four basic principles of finance Learning

More information

Group Corporate Responsibility Policy

Group Corporate Responsibility Policy London Stock Exchange Group Group Corporate Responsibility Policy December 2015 WEB VERSION FOR EXTERNAL DISCLOSURE 1 Contents 1.0 Introduction 3 2.0 Objectives 3 3.0 Scope and application 3 4.0 Corporate

More information

Community & Events Fundraising Manager. 35 (out of hours work is likely to be required)

Community & Events Fundraising Manager. 35 (out of hours work is likely to be required) JOB DESCRIPTION Job Title: Reporting to: Location: Travelling Requirements: Transportation Requirements: Contracted Hours: Referencing Requirements: Registration Requirements: Community & Events Fundraising

More information

Supplier Relationships Lecture 7. Briony Boydell Managing Business Relationships

Supplier Relationships Lecture 7. Briony Boydell Managing Business Relationships Supplier Relationships Lecture 7 Briony Boydell Managing Business Relationships Objectives of lecture Identify the types of relationships within the supply chain Discuss the benefits of improved relations

More information

Chapter 1 The Scope of Corporate Finance

Chapter 1 The Scope of Corporate Finance Chapter 1 The Scope of Corporate Finance MULTIPLE CHOICE 1. One of the tasks for financial managers when identifying projects that increase firm value is to identify those projects where a. marginal benefits

More information

Assistant Director, Digital and Volunteer Communications. Applicant Information Pack

Assistant Director, Digital and Volunteer Communications. Applicant Information Pack Assistant Director, Digital and Volunteer Communications Applicant Information Pack Contents Page 3 Introduction Page 4 Job Description Page 7 Personal Specification Page 10 Terms and Conditions of Employment

More information

Management, Leadership and People Development Skills

Management, Leadership and People Development Skills Management, Leadership and People Development Skills Who are these courses for? Appropriate if: You Have Been Undertaking A Supervisory Role You Have Recently Been Promoted Or Appointed To A First Line

More information

CAMUS GROUP CODE OF ETHICS

CAMUS GROUP CODE OF ETHICS CAMUS GROUP CODE OF ETHICS THE LETTER OF THE PRESIDENT In an ever more global commercial context, our group must develop its activities and geographical presence with, as a consequence, a growing division

More information

SMALL BUSINESS REPUTATION & THE CYBER RISK

SMALL BUSINESS REPUTATION & THE CYBER RISK SMALL BUSINESS REPUTATION & THE CYBER RISK Executive summary In the past few years there has been a rapid expansion in the development and adoption of new communications technologies which continue to

More information

All available Global Online MBA routes have a set of core modules required to be completed in order to achieve an MBA.

All available Global Online MBA routes have a set of core modules required to be completed in order to achieve an MBA. All available Global Online MBA routes have a set of core modules required to be completed in order to achieve an MBA. Those modules are: Building High Performance Organisations Management and Organisational

More information

Developing a Project Governance Framework

Developing a Project Governance Framework Developing a Project Governance Framework Ross Garland 1 Introduction The UK Government lists "decision making failures" as one of the top 5 causes of project failure. Victorian Treasury which runs the

More information

www.fetsystem.com [GCSE ECONOMICS SECTION 4 REVISION NOTES

www.fetsystem.com [GCSE ECONOMICS SECTION 4 REVISION NOTES Types of business organizations Sole proprietors Partnerships Private companies Public companies Multi-nationals Co-operatives Public corporation Sole proprietor Sole proprietor is a business owned and

More information

International Business Communications (IBC)

International Business Communications (IBC) International Business Communications (IBC) Follow us on facebook www.facebook/mlscollege and check our website mls-college.co.uk for up-to-date information on all our courses MLS International College,

More information

Developing and Marketing A Successful Alliance. Reprint from Construction Marketer Volume 1 Issue 3

Developing and Marketing A Successful Alliance. Reprint from Construction Marketer Volume 1 Issue 3 ServQ Developing and Marketing A Successful Alliance Andrew Crossley ServQ Limited Reprint from Construction Marketer Volume 1 Issue 3 Developing and Marketing A Successful Alliance Reprint from Construction

More information

EXAM EXEMPLAR QUESTIONS

EXAM EXEMPLAR QUESTIONS Level 4 Diploma in Procurement and Supply D1 - Contexts of procurement and supply EXAM EXEMPLAR QUESTIONS QUESTIONS AND INDICATIVE ANSWER CONTENT Page 1 of 9 QUALIFICATIONS 2013 QUESTIONS AND MARKING SCHEME

More information

VPQ Level 6 Business, Management and Enterprise

VPQ Level 6 Business, Management and Enterprise VPQ Level 6 Business, Management and Enterprise VPQ Level 6 Certificate in Business, Management and Enterprise The VPQ Level 6 Certificate in Business, Management and Enterprise is a 30 credit qualification.

More information

strategic plan and implementation framework 2013-2018

strategic plan and implementation framework 2013-2018 strategic plan and implementation framework 2013-2018 contents Introduction 3 Strategic Plan 2013-2018 4 Strategic Priorities 4 2 Implementing the Plan 5 Measuring and Monitoring 5 Communicating and Reporting

More information

Procurement Strategy 2013-2017 Delivering Social Value for our Community

Procurement Strategy 2013-2017 Delivering Social Value for our Community Procurement Strategy 2013-2017 Delivering Social Value for our Community Making Bath & North East Somerset an even better place to live, work and visit 1 Picture courtesy of Bath & News Media Group Our

More information

The Examiner's Answers. Enterprise Management 1

The Examiner's Answers. Enterprise Management 1 The Examiner's Answers E2 - Enterprise Management SECTION A Some of the answers that follow in Sections A and B are fuller and more comprehensive than would be expected from a well-prepared candidate.

More information

"/0,&(00$"-0,10$-&+$2,&-&1(!"#$%&'()*(+,-'($!.-)+$

/0,&(00$-0,10$-&+$2,&-&1(!#$%&'()*(+,-'($!.-)+$ INTERNATIONAL BUSINESS SKILLS COURSEWARE "/0,&(00$"-0,10$-&+$2,&-&1(!"#$%&'()*(+,-'($!.-)+$!""#$%&'$%()*!++,"&-'&,.(,/(01+&.$++( 2#-"'&'&,.$#+ INTERNATIONAL BUSINESS SKILLS COURSEWARE PUBLISHED BY: British

More information

An introduction to marketing for the small business

An introduction to marketing for the small business An introduction to marketing for the small business Membership Services Moor Hall, Cookham Maidenhead Berkshire, SL6 9QH, UK Telephone: 01628 427500 www.cim.co.uk/marketingresources The Chartered Institute

More information

The South Staffordshire and Shropshire Health Care NHS Foundation Trust Digital Strategy 2014 2019

The South Staffordshire and Shropshire Health Care NHS Foundation Trust Digital Strategy 2014 2019 The South Staffordshire and Shropshire Health Care NHS Foundation Trust Digital Strategy 2014 2019 Peter Kendal Associate Director for Information Management and Technology Development 01/12/2014 1 Page

More information

White Paper. PPP Governance

White Paper. PPP Governance PPP Governance The Governance of Projects, Programs and Portfolios (PPP) (sometimes called project governance for convenience) is the sub-set of corporate and organisational governance 1 focused on assisting

More information

Ethical Trading Initiative Management Benchmarks

Ethical Trading Initiative Management Benchmarks Ethical Trading Initiative Management Benchmarks The Management Benchmarks are the means by which ETI (a) sets out its expectations of members and (b) measures members progress in applying the ETI Base

More information

Contract risk and assurance

Contract risk and assurance Contract risk and assurance Delivering value from your key contracts and suppliers Maximise performance, confirm costs and gain assurance over your third party relationships and suppliers Performance Risk

More information

The authors provide the frameworks, analysis tools and route-maps to understand and action creating a marketdriven

The authors provide the frameworks, analysis tools and route-maps to understand and action creating a marketdriven : How to build and lead a market-driven organisation Malcolm McDonald, Martin Christopher, Simon Knox & Adrian Payne FT/Prentice Hall, 2001 ISBN: 0273642499, 206 pages Theme of the Book Marketing is too

More information

The real value of corporate governance

The real value of corporate governance Volume 9 No. 1 The real value of corporate governance (c) Copyright 2007, The University of Auckland. Permission to make digital or hard copies of all or part of this work for personal or classroom use

More information

SAMPLE QUESTIONS EXAM EXEMPLAR QUESTIONS. AD4 - Category management in procurement and supply. Level 5 Advanced Diploma in Procurement and Supply

SAMPLE QUESTIONS EXAM EXEMPLAR QUESTIONS. AD4 - Category management in procurement and supply. Level 5 Advanced Diploma in Procurement and Supply Level 5 Advanced Diploma in Procurement and Supply AD4 - Category management in procurement and supply EXAM EXEMPLAR QUESTIONS QUESTIONS AND INDICATIVE ANSWER CONTENT Page 1 of 8 QUALIFICATIONS 2013 QUESTIONS

More information

building and sustaining productive working relationships p u b l i c r e l a t i o n s a n d p r o c u r e m e n t

building and sustaining productive working relationships p u b l i c r e l a t i o n s a n d p r o c u r e m e n t building and sustaining productive working relationships p u b l i c r e l a t i o n s a n d p r o c u r e m e n t INTRODUCTION 1 1 THE GROWING INFLUENCE OF PROCUREMENT PROFESSIONALS 2 2 GUIDELINES FOR

More information

The Wheel. useful information for setting up a voluntary organisation

The Wheel. useful information for setting up a voluntary organisation The Wheel useful information for setting up a voluntary organisation Introduction When an organisation is starting up it is important for the members to consider the following points carefully: Whether

More information

Debt collection compliance guide

Debt collection compliance guide Debt collection compliance guide June 1999 This guide has been prepared by the Australian Competition and Consumer Commission for businesses that collect debts. It is divided into four sections: Part A

More information

Joint ventures and partnering

Joint ventures and partnering Joint ventures and partnering From http://www.businesslink.gov.uk/bdotg/action/layer?r.l1=1074404796&r.s=tl&topicid=10790 50369 A joint venture is when two or more businesses pool their resources and expertise

More information

Procurement Capability Standards

Procurement Capability Standards IPAA PROFESSIONAL CAPABILITIES PROJECT Procurement Capability Standards Definition Professional Role Procurement is the process of acquiring goods and/or services. It can include: identifying a procurement

More information

POSITION DESCRIPTION

POSITION DESCRIPTION POSITION DESCRIPTION Position Title Business Unit : Relationship Manager : Corporate Client Services Reports to (Position) : General Manager Corporate Client Services Physical Location : Auckland Date

More information

A GUIDE TO LEGAL FORMS FOR BUSINESS NOVEMBER 2011

A GUIDE TO LEGAL FORMS FOR BUSINESS NOVEMBER 2011 A GUIDE TO LEGAL FORMS FOR BUSINESS NOVEMBER 2011 Guide to Legal Forms Unincorporated legal forms: The distinguishing feature of unincorporated forms is that they have no separate legal personality. There

More information

CONSULTATION PAPER ON GUIDELINES ON REMUNERATION POLICIES AND PRACTICES (CP42)

CONSULTATION PAPER ON GUIDELINES ON REMUNERATION POLICIES AND PRACTICES (CP42) COMMITTEE OF EUROPEAN BANKING SUPERVISORS CONSULTATION PAPER ON GUIDELINES ON REMUNERATION POLICIES AND PRACTICES (CP42) RESPONSE BY THE ASSOCIATION OF PRIVATE CLIENT INVESTMENT MANAGERS AND STOCKBROKERS

More information

Business Structures in Agriculture

Business Structures in Agriculture Business Structures in Agriculture The following information is reproduced with permission from work provided by the Department of Primary Industries, Farm Services Victoria. Introduction The global agri-food

More information

APES 320 Quality Control for Firms

APES 320 Quality Control for Firms APES 320 Quality Control for Firms APES 320 Quality Control for Firms is based on International Standard on Quality Control (ISQC 1) (as published in the Handbook of International Auditing, Assurance,

More information

Controlled Assessment

Controlled Assessment 7 th Jun 18 th Jun 7 th Jun 18 th Jun 7 th Jun 18 th Jun GCSE Business Studies Year 11 AQA Unit 2: Growing as a Business Controlled Assessment The Unit may be introduced by inviting in outside business

More information

Corporate Procurement Strategy 2014-2017

Corporate Procurement Strategy 2014-2017 Strategy 2014-2017 Strategy 2014-2017 Introduction The Brighton & Hove community is distinctive for its strong international flavour and vibrant diversity of cultures. The make-up of the local population,

More information

Strategic Management and Leadership. Prepared by Mr Rabeel Sabar

Strategic Management and Leadership. Prepared by Mr Rabeel Sabar Strategic Management and Leadership Prepared by Mr Rabeel Sabar Strategy Defined as: A plan of action designed to achieve a longterm or overall aim (Oxford, 2011) Strategy in Business World Defined as:

More information

OFFICE OF THE COMMISSIONER OF CHARITIES GUIDANCE FOR CHARITIES ENGAGING IN BUSINESS ACTIVITIES

OFFICE OF THE COMMISSIONER OF CHARITIES GUIDANCE FOR CHARITIES ENGAGING IN BUSINESS ACTIVITIES OFFICE OF THE COMMISSIONER OF CHARITIES GUIDANCE FOR CHARITIES ENGAGING IN BUSINESS ACTIVITIES Purpose of Guidance 1 This Guidance serves to clarify when and how charities may engage in business activities.

More information

Version 2. Genera June 2012. unting. Accou. (Spec. cts of. Final

Version 2. Genera June 2012. unting. Accou. (Spec. cts of. Final Version 2 Genera al Certificate of Education June 2012 (A-level) Accou unting ACCN3 (Spec cification 2120) Unit 3: Further Aspec cts of Financial Accounting Final Mark Schemee Mark schemes are prepared

More information

CIPS Exam Report for Learner Community:

CIPS Exam Report for Learner Community: CIPS Exam Report for Learner Community: Qualification: Diploma in Procurement and Supply Unit: Unit D2: Business Needs in Procurement and Supply Exam series: November 2014 Question 1 Learning Outcome 1

More information

Bond Street Capital London

Bond Street Capital London Bond Street Capital London Management and Solutions for International Expansion WHO we ARE Bond Street Capital London is an alternative professional services firm, specifically formulated to capitalise

More information

Outsourcing. Definitions. Outsourcing Strategy. Potential Advantages of an Outsourced Service. Procurement Process

Outsourcing. Definitions. Outsourcing Strategy. Potential Advantages of an Outsourced Service. Procurement Process CIPS takes the view that the outsourcing of services to specialist providers can often lead to better quality of services and increased value for money. Purchasing and supply management professionals should

More information

Business Charter for Social Responsibility

Business Charter for Social Responsibility Business Charter for Social Responsibility This Charter describes the spirit, style and behaviours we will adopt and will expect our partners/suppliers to adopt as we jointly work together in an open,

More information

CONTRACT MANAGEMENT FRAMEWORK

CONTRACT MANAGEMENT FRAMEWORK CONTRACT MANAGEMENT FRAMEWORK August 2010 Page 1 of 20 Table of contents 1 Introduction to the CMF... 3 1.1 Purpose and scope of the CMF... 3 1.2 Importance of contract management... 4 1.3 Managing contracts...

More information

Cambridge International Diploma in Business at Advanced Level Marketing

Cambridge International Diploma in Business at Advanced Level Marketing Cambridge International Diploma in Business at Advanced Level Marketing Marketing Advanced Version Select Knowledge wishes to thank Nigel Proctor who compiled this module from Select Knowledge learning

More information

Young Enterprise Company Programme and the Business Administration and Finance Diploma

Young Enterprise Company Programme and the Business Administration and Finance Diploma Young Enterprise Company Programme and the Business Administration and Finance Diploma About Young Enterprise With more than 5,500 schools, colleges and universities participating in its programmes, Young

More information

Lead Generation Content Syndication Brand Awareness. Media Pack 2014

Lead Generation Content Syndication Brand Awareness. Media Pack 2014 Lead Generation Content Syndication Brand Awareness Inbox Insight publish a range of highly targeted B2B email bulletins to a subscriber base of over 1.5 million UK business professionals. We specialise

More information

CIMA F3 Course Notes. Chapter 10. Lease vs Buy

CIMA F3 Course Notes. Chapter 10. Lease vs Buy CIMA F3 Course Notes Chapter 10 Lease vs Buy Personal use only - not licensed for use on courses 137 1. Leasing Leasing Leasing is a process by which a firm can obtain the use of a certain fixed assets

More information

T4 Case study - TOPCIMA. Strategic Analysis. EL Cars. Nick Best

T4 Case study - TOPCIMA. Strategic Analysis. EL Cars. Nick Best T4 Case study - TOPCIMA Strategic Analysis EL Cars Nick Best with www.astranti.com Welcome Welcome to Nick Best s T4 Case Study strategic analysis For those of you who don t know me, I ve tutored TOPCIMA

More information

Risks and uncertainties

Risks and uncertainties Risks and uncertainties Our risk management approach We have a well-established risk management methodology which we use throughout the business to allow us to identify and manage the principal risks that

More information

Position Description. General Manager Corporate Affairs & Strategy. Corporate Services. Strategic Leaders

Position Description. General Manager Corporate Affairs & Strategy. Corporate Services. Strategic Leaders Position Description Position: Reports to: Location: Division: Job Family: Digital Strategy Manager General Manager Corporate Affairs & Strategy Christchurch Corporate Services Strategic Leaders Position

More information

Moving from tactical to strategic B2B marketing

Moving from tactical to strategic B2B marketing Moving from tactical to strategic B2B marketing Introduction The definition of Marketing is The Management process which identifies, anticipates and satisfies customer requirements efficiently and profitably.

More information

7. Explain the basic assumptions and principles underlying financial statements.

7. Explain the basic assumptions and principles underlying financial statements. CHAPTER 1 Introduction to Financial Statements Study Objectives 1. Describe the primary forms of business organization. 2. Identify the users and uses of accounting information. 3. Explain the three principal

More information

Even their body language is retail! They re head and shoulders above other training companies

Even their body language is retail! They re head and shoulders above other training companies Negotiation skills First Friday is a leading provider of training & development and change management services with a portfolio of 100+ clients across the UK, Europe and South Africa. Our team is unique;

More information

legal Expert unlimited legal advice and support included as part of your membership*

legal Expert unlimited legal advice and support included as part of your membership* legal Expert unlimited legal advice and support included as part of your membership* As a bira member you receive quality legal care for your business and peace of mind for you. 1300 typical member saving*

More information

The Role of Accounting in Business. ACTY5200 Accounting for Business

The Role of Accounting in Business. ACTY5200 Accounting for Business The Role of Accounting in Business ACTY5200 Accounting for Business Chapter 1 Learning Outcome 1 Explore the role of accounting information in business When you have completed this Learning Outcome, you

More information

Procurement of Production and Post- Production Services in Australia

Procurement of Production and Post- Production Services in Australia Procurement of Production and Post- Production Services in Australia Introduction This document has been developed by The Communications Council in conjunction with the Commercial Producers Council subcommittee

More information

THE PRIVATE DELIVERY OF PUBLIC SERVICES

THE PRIVATE DELIVERY OF PUBLIC SERVICES THE PRIVATE DELIVERY OF PUBLIC SERVICES Report of seminar 143 held on 3rd June 2008 at Freshfields Bruckhaus Deringer, London SUMMARY KEY CONCLUSIONS The PFI market in the UK is now mature, with over 600

More information

Time for change in facilities management. Interserve, Sheffield Hallam and i-fm facilities management research 2013

Time for change in facilities management. Interserve, Sheffield Hallam and i-fm facilities management research 2013 Time for change in facilities management Interserve, Sheffield Hallam and i-fm facilities management research CONTENTS 01 02 03 04 About the facilities deal Outsourcing objectives The role of your brand

More information

Volunteer Managers National Occupational Standards

Volunteer Managers National Occupational Standards Volunteer Managers National Occupational Standards Contents 00 Forward 00 Section 1 Introduction 00 Who are these standards for? 00 Why should you use them? 00 How can you use them? 00 What s in a Standard?

More information

ELCT- NORTHERN DIOCESS

ELCT- NORTHERN DIOCESS ELCT- NORTHERN DIOCESS WOMEN-LED TREE NURSERY PROJECT TRAINING ON ENTREPRENEURSHIP EVANGELICAL LUTHERAN CHURCH OF TANZANIA Northern Diocese By Godson Ulomi gaulomi73@gmail.com 0784957530 1 ENTREPRENEURSHIP

More information

FINANCIAL SERVICES. Services for Companies in Financial Difficulty

FINANCIAL SERVICES. Services for Companies in Financial Difficulty Services for Companies in Financial Difficulty Insolvency procedures are varied and complex and the sooner we are consulted, the more options are likely to be available. HBG understand the anxiety which

More information

Business Ethics and Code of Conduct. Executives and employees. Global Connections Pcl.

Business Ethics and Code of Conduct. Executives and employees. Global Connections Pcl. Business Ethics and Code of Conduct. Executives and employees. Global Connections Pcl. Update on December 2013 Page 2 of 12 Contents. Subject Page Introduction 4 The aim of the company 4 Treatment of Stakeholders

More information

Cash budget Predict the movements of cash received and paid for over a period of time. Financial statements

Cash budget Predict the movements of cash received and paid for over a period of time. Financial statements Achievement Standard 90976 Demonstrate understanding of accounting concepts for small entities ACCOUNTING. Externally assessed 3 credits Accounting 90976 (Accounting.) involves the recognition, definition

More information

Business, Administration and IT Qualifications

Business, Administration and IT Qualifications Business, Administration and IT Qualifications For further information contact us: Tel. +44 (0) 8707 202909 Email. enquiries@ediplc.com www.lcci.org.uk London Chamber of Commerce and Industry (LCCI) International

More information

Capability Framework. Department of Natural Resources and Mines

Capability Framework. Department of Natural Resources and Mines Capability Framework Department of Natural Resources and Mines Current as at 24.10.2014 Capability Framework How we lead How we behave & work together Customer Focused Solutions Focused Teamwork & Collaboration

More information