BUSINESS COMMUNICATION CLASS

NUA: 415306

What is Organizational Law?

Organizational law refers to the many ways a business can be legally formed under state laws.

What does Employment Law refer to?

This law covers the rights, obligations and responsibilities within the employer-employee relationship, from wages and workplace safety to discrimination and wrongful termination.

How are Consumer laws defined?

Consumer law involves all regulations and statutes that seek to create a more equitable balance for buyers in the market and prevent sellers from using dishonest tactics.

What is Securities Law?

Securities laws are the laws and regulations that govern financial instruments such as stocks, mutual funds, and bonds.

What does Health and Safety at the Workplace refer to?

Employers have a legal obligation to ensure, to the extent possible, the health, safety and well-being of employees while on the job.

What is Taxation?

Taxation is a term for when a tax authority, usually a government, levies or imposes a financial obligation on its citizens or residents.

NUA: 415306

1)     Why do you think accounting is seen as boring? Explain.

I think that accounting is considered boring since for some people numbers are not their strong suit, and a career in which these are present all the time can get to annoy them or in this case bore them.

2)     Which of the jobs mentioned would be most interesting for you? Give your reasons.

Accountant: sometime I come to think of taking that run, I have always liked subjects with numbers, also it is what I do best.

3)     Why is it so important for accountants to be ethical? Explain in detail.

The ethics of the accountants is important since the financial information of the organization depends on it, without ethics the financial information would be affected, which would bring both legal and economic problems to the organization.

Integrated Business Planning (IBP)

NUA: 415306

Answer the following study guide questions.

       I.          What is “Integrated Business Planning” (IBP)?

IBP is a strategy for connecting the planning functions of each department in an organization to align operations and strategy with the financial performance of the organization.

      II.          What is “Sales and Operations Planning” (S&OP)?

S&OP is a process to help you provide better customer service, lower inventory, shorter lead times, more stable production rates, better control of overall business management, and a team building mechanism across the organization of high direction.

    III.          What are the similarities between IBP and S&OP? Mention and describe them.

a.      Requires backup data: This data helps align forecasts with functions and guides managers in making planning decisions.

b.      Monthly process.

c.      Multifunctional approach.

d.      Driven by business strategy.

e.      Tactical planning at the aggregate level.

    IV.          What are the differences between IBP and S&OP? Mention and describe them.

There are differences on several levels: Objectives, focus, affiliated department, functionalities and finally connectivity.

horizon: IBP is 24 continuous months while S&OP is 0-3 or 12 months.

Business approach: for IBP it is a value chain while for S&OP it is a supply chain

     V.          How does the IBP process work? Describe in detail.

a.      Demand planning: The first step is to make a good demand plan. The first analysis should focus on how the demand for products and services affects manufacturing and the local supply chain.

b.      Creating the supply plan: The objective is to build a supply plan balanced with the demand strategy that helps address supply and demand mismatches before they affect customers.

c.      Take advantage of supply chain collaboration: Once the demand and supply plans have been made, it is very convenient to establish collaborative relationships with other supply chain partners and share information.

d.      Integrate business partners into the business plan: Include suppliers and customers in the company's plan.

e.      Monitor, measure and modify supply chain activities on an ongoing basis: Directors' decisions seek to maintain the financial performance of the company.

    VI.          What are the challenges of IBP?

a.      Attract the main customers and suppliers.

b.      Consider business objectives: market share / growth, channels, impact.

c.      Business language instead of supply chain KPIs.

d.      Shift the focus from the 1 number plan to risk and opportunity management.

e.      Include project management to maximize the business impact of new product introductions.

  VII.          Which are the most common difficulties/problems when implementing IBP? Mention them and provide examples.

a.      Lack of commitment in some of the necessary departments

b.      If the S&OP process is not yet in place or stable, IBP is too big a step to take.

c.      Goals and prognosis are mixed

d.      Information not available

e.      Discussion of numbers rather than underlying assumptions.

f.       Discuss only the short horizon rather than the medium term

g.      Plans and discussions too granular

h.      A deep understanding of tradeoffs is lacking

 VIII.          What are the advantages and disadvantages of IBP?

Advantages:

a.      Streamline the quality of analysis.

b.      Anticipate decision making.

c.      Better coordinate departments.

d.      Reduce risks.

e.      Optimize control variables.

Disadvantages:

a.      Difficult data collection.

b.      The company must reach the 3 levels of competence.

    IX.          What is the importance of IBP nowadays?

a.      It gives the balance of supply and demand.

b.      Encourage proactive decision making.

c.      Formalizes business communication processes.

d.      It is a key factor to satisfy the demand and an agile response.

INFORMATION TECHNOLOGY & COMMUNICATION

NUA: 415306

1)     What is Managing information withing and outside the organization?

It refers to the correct use of the information that an organization needs, also outside it means how to deal with the media.

2)     What is the importance of it?

Information management is important since the proper use of it is essential for the proper development of the company's activities.

3)     What are the new technologies that companies have to manage for communications purposes?

a.      Internet.

b.      Electronic mail.

c.      Voice mail.

d.      Teleconferences.

4)     Describe the role of technological discoveries throughout history.

The development of increasingly powerful computers has increasingly facilitated technological advances over time.

5)     What is the importance of technologies in the globalized business world?

Technologies in business communication help and support business fields. In addition, entrepreneurs save money, time and work.

6)     Describe the use of the technologies in the communication field.

In the field of communication, technologies were used at first only by people with vast knowledge such as scientists and researchers, this with the purpose of being able to share information more quickly. Today the use of communication technologies is available to everyone, facilitating the transmission of information in a faster and safer way.

7)     What are the Do’s and Don’ts of Electronic Communication?

DO

a.      Send messages on electronic systems that are related to business.

b.      Be conscientious in checking and responding to electronic messages.

c.      Read each message very carefully before you send it.

DON’T

a.      Do not flood the system with junk mail.

b.      Avoid sending confidential information.

8)     How have the Information & communication technologies changed the structure of business organizations?

Communication technologies have changed the structure of companies by facilitating the transaction of information without the need for workers to be in one place.

9)     What are the legal and Ethical implications of the use of technologies? Explain the in detail.

a.      computer technology has the potential to exalt or demean the people who use it:

Privacy: our privacy may be affected if we do not have a moderate use of computer technology.

Invasions of privacy.

b.      Fair information practices principles:

            No personal record systems whose existence is secret.

            Individuals have rights of access, inspection, review and amendment.

Quality Management

NUA: 415306

1)     What is Quality Management?

a.     Quality management is a series of processes that allow any organization to plan, execute and control the different activities it carries out. This ensures stability and consistency in performance to meet customer expectations.

2)     What is the objective of Quality Management?

a.     Improve the level of customer satisfaction.

b.     Take advantage of any opportunity or reduce any identified risk.

c.      Reduce the number of customer complaints.

3)     Which are the key components of Quality management? Describe in detail each one.

a.     Quality control: Is about inspecting products to make sure they reach the qualit standards and keep out the defecting products. Its disadvantages are when they have to do the inspecting, sampling, checking it becomes an expensive process for the business. They have to inspect since the raw materials come in to the final product.

b.  Quality assurance: its objective is to put quality in the organization's processes, by designing the way in which a product is produced. If the quality assurance is done well, the production process will be reliable, as a consequence the quality control does not need too much inspection and ultimately the quality control costs are lower.

4)     Describe what Quality Management involves. (process)

a.     It is a set of actions and tools that aim to avoid possible errors or deviations in the production process and in the products or services obtained through it.

5)     What does “Quality Improvement Methods” refer to? Explain in detail.

a.     PDCA Cycle: The PDCA or also known as Deming cycle is a classic method for solving problems.

b.     DMAIC: DMAIC is a 5-step type of PDCA. It is used to solve complex problems, with a large amount of data available.

c.      8D Methodology: this method will allow you to develop competitive advantages by quickly and effectively solving problems.

d.     Report A3: The A3 report is an 8-step PDCA that, as its name suggests, should only occupy one A3 sheet. This conditioning factor forces us to be concise and bring out the most important points.

6)     What are the Quality Management principle that the International Standard for Quality Management adopt? Write a description of each.

a.     Customer Focus: Companies depend on their customers, and therefore must understand the current and future needs of customers.

b.     Leadership: Leaders establish unity of purpose and direction for the company.

c.      Staff participation: The staff is the essence of the company and their total commitment enables their skills to be used for the benefit of the company.

d.     Process-based approach: A desired result is most efficiently achieved when the activities and related resources are managed as a process.

e.     System approach to management: Identify, understand and manage the interrelated processes of a system, contributes to the efficiency and effectiveness of a company to achieve its objectives.

f.       Continuous improvement: Continuous improvement of the general performance of companies should be a permanent objective.

7)     What are the benefits of Quality Management?

a.     Greater user satisfaction.

b.     Optimization of time and resources.

c.      More effective communication at all levels of the Organization.

d.     Staff with an attitude of service and a way of life that encourages personal growth.

e.     Establish homogeneous work procedures and practices.

f.       Prevent inconsistencies and errors.

g.     Detect deviations.

h.     Improve efficiency and effectiveness levels.

i.       I work with order and cleanliness.

j.       Worldwide recognized certification.

Resource Management study guide questions.

NUA: 415306

1)     What is Resource Management?

Resource management is the process of planning, scheduling, and pre-allocating resources to maximize their effectiveness.

2)     Mention what is the importance of Resource Management in business.

It is critical to optimizing the effectiveness of your staff, materials and budget. I mean, it is important since it improves the profitability and sustainability of a company.

3)     What are the Concepts and Components of Resource Management? Define them in detailed.

a.     Resource scheduling: Resource scheduling has to identify and allocate resources over a specific period of time to different project tasks.

b.     Resource Utilization: Resource utilization measures the amount of time employees spend on different project tasks based on their availability.

c.      Resource forecasting: Resource forecasting helps you predict resource utilization levels in advance and forecast the resources that are likely to end up in the bank.

d.     Resource and capacity planning: Resource planning is the process of planning, forecasting, allocating and utilizing the workforce in the most efficient and intelligent way.

4)     What are the advantages of resource management?

a.     Find and attract new talents: For a company to improve it needs to update itself or hire more qualified personnel.

b.     Better work relationships: Going to work happy or enjoying your job are priceless.

c.      Resource optimization: For a company to succeed, it must be productive, among other things, and for this, human resources must be optimized, among others.

d.     Risk reduction: With strategically positioned employees, the risks and dangers of the organization are minimized.

e.     Problem solving: The framework of operations is simplified because work processes are well distributed among the right employees for the project.

5)     What are the skills that every resource manager should have? Explain each in detail.

a.     Communication skills: Allow them to better explain the roles and responsibilities of resources

b.     Conflict resolution: A resource manager's job is to step in, set the right expectations, and make sure everyone is on the same page to keep the work going.

c.      Knowledge of the domain: You must know how to assign the right resource to the right job.

d.     Proactive Planning: Every project manager aims to complete the project on time and on budget, making advance planning a critical aspect.

e.     Risk Management: Risks are unavoidable therefore resource managers must hone their risk management skills with advance planning to keep the project on track.

Human Resources

NUA: 415306

1.     Define Human resources.

Human resources are the set of workers, as well as any natural person found within an organization, sector or economy.

2.     What is the role of human resources? Define in detail.

It is in charge of organizing, planning and managing the different tasks and actions related to the people who make up the company.

3.     What is Capital?

Capital is one of the four factors of production, which is formed by those durable goods destined for production.

Human capital: It is a measure of the economic value of a person's professional skills.

4.     In your opinion, is human resources necessary? Explain.

Human resources are of vital importance in a company. They are the ones that help to better manage personnel administration.

5.     What are the main areas of Human resources?

a.     Organization and planning of the workforce.

b.     Staff selection.

c.      Training.

d.     Evaluation of the staff.

e.     Good weather in the office.

f.       Administrative transactions.

g.     Good working relationship.

6.     Define Human resource management.

It is the administrative process applied to the increase and preservation of effort, practices, health, knowledge and skills of the members of the structure, for the benefit of a subject, of the organization itself.

7.     What are the main responsibilities of a Human Resource Manager? Define them in detail.

a.     Compensation & Benefits: Human resource managers provide guidance and direction to compensation and benefits specialists.

b.     Formation and development: Employee training and development includes new hire orientation, leadership training, and professional development seminars and workshops.

c.      Recruitment and selection: The human resources manager has the ultimate responsibility for the preservation of the employer-employee relationship by designing an effective employee relations strategy.

d.     Labor Relations: HR managers develop strategic solutions to meet labor demand and workforce trends.

8.     Which of the responsibilities you mentioned in the previous questions do you think is the most challenging or a HRM? Why?

I believe that the responsibility for training and development is one of the most challenging as HR managers must oversee needs assessments to determine when training and the type of training is necessary to improve performance and productivity.

9.     What are the most important skills of a Human Resource Manager?

a.     Analytical and organizational skills.

b.     Team management.

c.      Leadership and empathy.

d.     Negotiation skills.

e.     New technologies.

f.       Talent management.

Task 2. Administration vs management.

NUA: 415306

What are the key differences between management and administration? Explain each of them in detail.

Administration and management are concepts that many times are confused and used in an erroneous way, while management refers to the exercise of certain responsibilities within an organization, administration has to do with control, organization and direction of resources within a company.

·        Extent differences:

o   Management: Is exacting the discharge of policies.

o   Administration: Is exacting the assurance of primary policies and objetives.

·        Working area:

o   Management: Is a low and mid-ranked function.

o   Administration: Is a high-ranked function.

·        Authority:

o   Management: mainly has control over business concerns.

o   Administration: has control over the government or nationalsectors.

Which is better, management or administration? Explain.

Both are important, they are complementary. Without management there is no organization and without administration there is no management.

Task 1: Definitions

NUA: 415306

Administration 

1. Provide a definition of administration:

The process of running an organization, office or business. This includes creating rules and regulations, making decisions, management of operations, creating organization of staff/employees/people to direct activities towards achieving a common goal or objective.

2. Concepts of Administration:

●       Planning means choosing the best out of various alternative objectives, processes, policies and programmers.

●       Involves implementation of the policies, procedures, rules and regulations as set up by the management.

●       D. Waldo says “Administration is a type of co-operative human effort that has a high degree of rationality.”

●       Brooks Adams says “Administration is the capacity of coordinating many and often conflicting social energies in a single organism, so adroitly that they shall operate as a unity.”

●       Pfiffener says “Administration is the organization and direction of human and material resources to achieve desired ends.”

3. Universal functions in Administration:

●       Planning: In this step, the manager will create a detailed action plan aimed at some organizational goal.

●       Organizing: This step requires the manager to determine how she will distribute resources and organize her employees according to the plan.

●       Directing: Involves the social and informal sources of influence that you use to inspire action taken by others. If managers are effective leaders, their subordinates will be enthusiastic about exerting effort to attain organizational objectives.

●       Controlling: Ensuring that performance does not deviate from standards.

Business

Define Business

A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. Businesses can be for-profit entities or they can be non-profit organizations that operate to fulfill a charitable mission or further a social cause. 

The term "business" also refers to the organized efforts and activities of individuals to produce and sell goods and services for profit

Concepts of Business. (Define them in detail)

Business a business is any activity, occupation or method that aims to make a profit

A business consists of a method of forming or obtaining money in exchange for products, services, or any activity that you want to develop.

Every business consists of a transaction by which two or more parties exchange goods and services for a specific or determinable price. The exchange of one good or service for another is called barter. From a legal point of view, every business is formalized through a contract, the best-known legal business being the sale and purchase agreement.

Objective of Business.

Business objectives are the steps a business needs to take to meet its overall aims.  business may have several different objectives that will help it to meet its aim.

All businesses have aims and objectives. These give a business direction and provide a purpose for what the business does each day. A business aim is the overall target or goal of the business

Business objectives are often created using the SMART acronym:

S – Specific

M – Measurable

A – Agreed

R - Realistic

T – Time-bound

Types or classification of business. (Define each in detail)

●       By economic activity: It´s the productive process that a company performs within the goods and services sector. There are 3 types:

1.     Primary: Is the sector that is disposed to the extraction of raw materials, to the use of natural resources for their treatment and production in goods and their respective sale in the market.

2.     Secondary: They are the companies that work both with industry or with construction, it's the sector that works with raw materials or that transforms them into goods for the use of the final consumer.

3.     Tertiary: Those who work with the products in their final state

●       According to its legal form: In accordance with the legal structure that it adopts, according to the legislation in force in the country:

1.     Public Limited Company: One that becomes partners, each of whom contributed capital, which makes them a participant in the company.

2.     Limited Partnership: One that is made up equally of partners, who contribute by determining capital.

●       According to its size: Is the volume of employees they have and their income.

1.     Big company

2.     Medium company

3.     Small company

4.     Micro business

What does “form of business ownership” refer to? Provide definitions.

●       They are the people who own the company.

●       The company has several owners, depending who worked on its business construction.

Management

Define management.

It's the mechanism that drives the organization's efforts to adapt those changes. It is not a single function in a company, but several distributed throughout the different levels, and there is no single type of management.

Functions of management. (Describe them in detail)

●       Planning: Planning is essential for all types of management and must start from the overall function that you are trying to achieve.

●       Organization: The organization is the essence of all business management. Delegating the relevant tasks to the relevant people will be the first action you will need to take to achieve a proper organization.

●       Staff: The staff of your company is one of the most important business management functions, if you choose the right person for the right job, and if they have the necessary tools to do the job, you can see that they manage your company efficiently.

●       Leadership: Remember that a manager tells you what you want and how to get it. A leader only tells you what he wants. Help them, guide them, give them entrepreneurial power, but don't take over the pertinent functions in question. They need to know that you trust them to get a job done right.

●       Control: It is necessary to control the behavior and attitude of the team. You must carry out adequate control of arrival times, work standards or time spent on breaks and lunches.

Important areas of knowledge for a business manager. Mentions as many as you know or find.

●       Organization and planning: It is essential to manage the actions and tasks of the sales team properly.

●       Team management: It is important that you know in detail the tasks that salespeople perform on a daily basis and supervise the work of your employees

●       Empathy: Knowing how to listen is part of the keys to all business management.

●       Leadership: Essential for those who have the task of directing.

●       Time management: To achieve the best results you must be very aware of the importance of managing your team's time.

●       Innovation: The commercial manager will be responsible for developing innovative marketing strategies or optimizing processes.

Organization

Provide a definition of organization. Be extensive.

●       The term organization is used to refer to entities and activities, therefore, it has two meanings: the first, refers to a set of elements, composed mainly of people, who act and interact with each other under a structure thought and designed so that the human, financial, physical, information and other resources, in a coordinated, orderly and regulated manner by a set of rules, achieve certain purposes, which may or may not be for profit; and the second: it refers to the result of coordinating, arranging and ordering the available resources (human, financial, physical and others) and the necessary activities, in such a way that the proposed ends are achieved.