business AS level people
0.0 / 5
- Created by: Hedgester
- Created on: 03-05-22 18:20
chief executer
overall authority of the business and communicates company messages to the directors
1 of 35
directors
work together to set long term plans and targets for the business - report to the chief executer
2 of 35
middle managers
work to achieve the targets set by directors - ensure that employees are used in the best way possible
report back to directors
report back to directors
3 of 35
team leaders
make smaller decisions regarding shop-floor workers - report bakc to middle managers
4 of 35
shop-floor workers
carry out business's basic duties day to day
lead by the team leaders and report to them directly
lead by the team leaders and report to them directly
5 of 35
line manager
employees immediate superior
6 of 35
span of control
number of employees managed directly by a manager
7 of 35
chain of command
the links in the organisation between the top and the bottom layers
8 of 35
tall organisation
many levels of hierarchy
narrow spans of control
has long communication flow
works with hard HR style
narrow spans of control
has long communication flow
works with hard HR style
9 of 35
flat organisation
few levels of hierarchy
wide span of control
short communication flow
works with soft HR style
wide span of control
short communication flow
works with soft HR style
10 of 35
autocratic leadership
complete control and everything is one way
11 of 35
democratic leadership
objective management as group leaded to outcome
12 of 35
paternalistic leadership
learn from mistakes and work together
13 of 35
charismatic leadership
engaging and interesting
14 of 35
MOTIVATION
financial rewards - used for hard HR
financial rewards - used for hard HR
piece work- payed per item produced
commission - everything sold get % of profit
bonuses - added money on top of salary
profit share
performance related pay
RESERACH SHOWED THIS IS SHORT TERM MOTIVATION
commission - everything sold get % of profit
bonuses - added money on top of salary
profit share
performance related pay
RESERACH SHOWED THIS IS SHORT TERM MOTIVATION
15 of 35
MOTIVATION
non-financial rewards
non-financial rewards
delegation - responsibility for extra things
empowerment - boosting confidence
consultation - 1-1 conversation to ask for changes and improvements
team working - making fell like a team
flexible working
job enrichment and rotation
staff appraisal - feedba
empowerment - boosting confidence
consultation - 1-1 conversation to ask for changes and improvements
team working - making fell like a team
flexible working
job enrichment and rotation
staff appraisal - feedba
16 of 35
What is an entrepreneur
an individual who seeks to supply products to a market for a rate of return and will often invest own financial capital and take on risks associated with business
17 of 35
skills required for entrepreneurship
determination, innovation, courage, risk taker, hard working, perseverance, belief in business, organised
18 of 35
barriers to entrepreneurship
facilities available, financial support, knowing market, technical skills, fear of failure, lack of confidence
19 of 35
liability limited
owners and business are seperate entities legally
20 of 35
public limited company
controlled by board of directors elected by shareholders who own it - fineance comes from shareholders
21 of 35
advantages of public limited company
liability limited
anyone can buy shares
lots of investmemt and range of income of initial money
launch on stock market to expand
anyone can buy shares
lots of investmemt and range of income of initial money
launch on stock market to expand
22 of 35
disadvantages of public limited company
divorce of ownership
shareholders and board of directors have different aims
everyone can see accounts including competitors
shareholders and board of directors have different aims
everyone can see accounts including competitors
23 of 35
private limited company
contolled by directors and shareholders own it - invited only
24 of 35
advantages of private limited company
limited liability
more well known and better reputation
easier to get bank loans
more well known and better reputation
easier to get bank loans
25 of 35
disadvantages of private limited company
divorce of ownership
must register with company house
takes time to set up
anyone can look at our accounts including competitors
must register with company house
takes time to set up
anyone can look at our accounts including competitors
26 of 35
partnerships
controlled and owned by 2-20 people involved and only certain people can have shares
27 of 35
advantages of partnerships
shared responsibility and shared roles
only have to put a % of money in
variety of skills from different people to allow specialisation
more freedom
support from partners and variety of work load
easy to set up
only have to put a % of money in
variety of skills from different people to allow specialisation
more freedom
support from partners and variety of work load
easy to set up
28 of 35
disadvantages of partnerships
disagreements through distribution of ownership of 2-20 people
different amounts of work load due to agreements
deed of partnership
unlimited liability
different amounts of work load due to agreements
deed of partnership
unlimited liability
29 of 35
sole trader
one person owns and controls the business entirely
30 of 35
advantages of sole trader
variety of tasks
pick and choose what to do
own boss
working hours flexible
make own decisions - independence and control of business
100% profits
easy to set up
finances are private
pick and choose what to do
own boss
working hours flexible
make own decisions - independence and control of business
100% profits
easy to set up
finances are private
31 of 35
disadvantages of sole trader
if go bust - could have to sell every asset owned even outside of business
no sales = no money
pressure all on one person to take all responsibilities
must finance self and no security or stability
unlimited liability and susceptible to economy and enviro
no sales = no money
pressure all on one person to take all responsibilities
must finance self and no security or stability
unlimited liability and susceptible to economy and enviro
32 of 35
franchise
pay a license to a business to set up and trade as their business' brand
33 of 35
advantages of franchising
fast growth with less risk as brand is already known
high brand awareness
advice and support available
high brand awareness
advice and support available
34 of 35
disadvantages of franchising
decision making is limited
you are tied in a contract and there is little exploration or personal growth
you are tied in a contract and there is little exploration or personal growth
35 of 35
Other cards in this set
Card 2
Front
directors
Back
work together to set long term plans and targets for the business - report to the chief executer
Card 3
Front
middle managers
Back
Card 4
Front
team leaders
Back
Card 5
Front
shop-floor workers
Back
Related discussions on The Student Room
- Nea help »
- Promoting teamwork and connectivity »
- Answering Questions: What can a degree in Business Management lead to? »
- Business management or business management with marketing »
- Btec business unit 6 Principles of management exam 2024 »
- Business analytics at warwick »
- Geography 12marker edexcel plzzz someone mark it and give advice »
- A level business AQA - 25 marker help please »
- I crashed higher geography and im worried I wont pass »
- University »
Similar Business Studies resources:
0.0 / 5
0.0 / 5
0.0 / 5
3.0 / 5 based on 1 rating
0.0 / 5
4.0 / 5 based on 2 ratings
0.0 / 5
4.0 / 5 based on 1 rating
0.0 / 5
Comments
No comments have yet been made