9 Definitions

 

Task 1 Definitions.

Administration

Provide a definition of administration.

Administration is a discipline, tool and uniquely human activity, in order to order, count and coordinate the different resources that an organization has, ensuring that these are applied and used effectively and efficiently, achieving individual, group and organizational objectives.

Concepts of Administration

·         ‘It is to foresee, organize, command, coordinate and control’. - Henry Fayol.

·         ‘It is a social process that carries with it the responsibility of planning and regulating the operations of a company to achieve a given purpose’- E.F.L. Brech.

·         It is a social science that pursues the satisfaction of institutional objectives through a structure and through coordinated human effort. - Jose Antonio Fernandez Arena.

Universal functions in Administration

According to Fayol.

Planning: Managers must plan strategies for the future to prevent the different contingencies that could arise and keep the members of the organization ready.

Organizing: Within organizations, managers organize team members into the workforce, structuring and aligning activities in the organization.

Commanding: Managers must supervise the staff in charge of their work every day, motivate and inspire them to achieve the objectives of the organization.

Coordinating: Through their coordination, the managers seek to harmonize the activities carried out by the collaborators within the organization.

Controlling: Managers within the organization seek to control the different activities that are carried out within the organization.

 

Business

Define Business

A Busines is an activity of an economic nature in which the production of goods and services is administered, managed, and regulated to satisfy certain human needs.

Concepts of Business. (Define them in detail)

·         a business is the organized activity or effort of individual to produce and provide goods and services to meet the needs of the society. (Needle 2010)

·         The regular production or purchase and sale of goods undertaken with an objective of earning profit and acquiring wealth through the satisfaction of human wants. (Stephenson 2008).

·         Business refers to a form of activity conducted with an objective of earning profits for the benefit of those on whose behalf the activity is conducted. (Dicksee 1980)

Objective of Business.

Economic Objectives: This objective refers to obtaining certain economic gains that are proper and adequate.

Social Objectives: This objective is aimed at providing a good to society, as an example could be goods or services aimed at a quality production and reasonable costs.

Human Objectives: This approach is aimed at the well-being of the employees of the company or the organization, as an example a good occupational health system.

National Objectives: It is aimed at achieving national objectives, such as the creation of new jobs based on social and legal justice.

Global objectives: It is aimed at a scope of standards at a global level, as an example the creation of competitive goods and services at a global level.

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

1.      Sole Proprietorship: It is a type of property in which there is only a single owner and a single administrator, it offers little financial and legal stability. basically, the owner of the company and the company shares the same identity as the company.

2.      Partnership: It is a company owned by 2 or more people, who act as partners. Like sole proprietorships, partnerships can take advantage of direct taxes. This means that the income is treated as the income of the owners, so it is only taxed once.

3.      Limited Liability Company (LLC): It is a type of commercial company in which the responsibility is limited to the capital contributed, and therefore, if debts are contracted, it does not respond with the personal assets of the partners, but to the one contributed in said Limited company.

4.      Corporation: It is a group of people or companies that have the right to operate as a single entity.

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

It is the control over a company giving the power to make decisions, dictate and control the operations of the organization.

·         Sole proprietorship

·         Partnership

·         LLP

·         LLC

·         Series LLC

·         C corporation

·         S corporation

·         Nonprofit corporation

·         Benefit corporation

·       L3C

 

Management

Define management.

Management is being able to carry out a work process where different ideas and processes are coordinated to achieve the objectives of the organization.

Functions of management. (Describe them in detail).

1.      Planning: It is the process in which a future approach is thought for making decisions that achieve objectives.

2.      Organizing: It is the process of creating good labor relations that allow employees to carry out activities that achieve organizational objectives.

3.      Leading: This means being able to create a vision, energy, tasks, inspiration, persuasion, and motivation to collaborators.

4.      Staffing: Recruitment and selection of new company personnel is done to achieve its organizational objectives.

5.      Controlling: Once you have accurate information on operations, you measure, review, and evaluate how well you are achieving organizational objectives creating strategies to improve staff performance.

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

·         critical thinking: A good manager must be able to resolve them, first analyzing the situation thoroughly to understand its causes and effects.

·         Communication: It is the manager's task to ensure that all his collaborators are clear about their tasks and contribute to the fulfillment of the company's objectives.

·         Creativity: Companies require creative collaborators who always aspire to innovate in their work to stand out from the competition. The first to drive that creativity should be managers.

·         Self-control: A manager must be able to control his emotions and avoid reacting negatively to any type of provocation.

·         Initiative: It is very important that a manager knows how to recognize good business opportunities and is willing to take risks to lead the company on a good path. On many occasions, he will have to take the initiative, even if this implies making difficult decisions.

·         Teamwork: A good manager is not limited only to delegating but is involved and actively participates in the tasks necessary to achieve the goals of the company.

(Universidad ESAN , 2015)

 

 

 

Organization

Provide a definition of organization. Be extensive.

It is a group of people who relate to each other by gathering resources and knowledge, seeking to achieve different types of objectives and to satisfy certain individual or collective needs, these structures are usually orderly and organized, where they interact with each other, fulfilling certain roles within Likewise, these roles can be formal or informal and each one fulfills a particular objective.

 

 

Bibliography

González, E. (2020, Diciembre 5). The blueprint a mootley fool service . Retrieved from www.fool.com: https://www.fool.com/the-blueprint/types-of-business-ownership/

Shah, K. A. (2017, Abril 27). linkedin. Retrieved from 5 Functions of Management by Henri Fayol: https://www.linkedin.com/pulse/5-functions-management-henri-fayol-kalpesh-shah/

The University of Arizona Global Campus. (2021, December 8). The University of Arizona Global Campus. Retrieved from uagc.edu: https://www.uagc.edu/blog/5-principles-of-great-management

Universidad ESAN . (2015, Mayo 26). esan graduate shool of bussines. Retrieved from esan.edu.pe: https://www.esan.edu.pe/apuntes-empresariales/2015/05/10-competencias-que-todo-gerente-debe-tener/

 Needle, D., & Burns, J. (2010). Business in context: An introduction to business and its environment. Boston: South-Western Cengage Learning.

Hernández Mendoza, F. (2003). Tutorial para la asignatura administración básica I. Facultad de contaduría y administración.

Huergo, J. (2004). Los procesos de gestión. Recuperado de http://servicios2. abc. gov. ar/lainstitucion/univpedagogica/especializaciones/seminario/materialesparadescargar.