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.