Business Studies

Business Studies

1. Recruitment

   • Selection Stages
     • Needs analysis - see if the replacement has to be made or money can be saved
       • Job description and person specification
         • Advertise - newspaper
           • Applications
             • Shortlisting
               • Call for reference - friend and professional
                 • Interview
                   • Contract of employment

2. Organisation Chart

   • Terms
     • Delayering
       • When you take a layer out of the organisation to save money, you don't usually take out the bottom layer, mainly the line managers
     • Subordinate
       • A subordinate is someone who works under someone else, the line manager is responsible for the subordinates
     • Line Manager
       • The line manager is someone who has subordinates, they are responsible of the subordinates, although they are under the control of the main manager
     • Hierarchy
       • The hierahial structure is the organisational chart of which the works men of a business are displayed, people can move up or down this. The amount of power flows down, the top having the most amount of power.
     • Chain of command
       • The chain of command flows downwards, from the main manager it would go through the line manager to reach the lower level worker.
     • Span of control
       • Every person except for the bottom layer has a span of control. The span of control is how many people are directly below you, eg 4.
     • Staff manager
       • The staff manager supports all staff, an example would be I.C.T Technicians. These are sometimes shown on the hierarchy, when they are they are usually at the side.
     • Delegation
       • When you give a job to someone else. You give it to someone lower than you, but it is still your responsibility if it isn't done to a good enough standard or completed on time.
     • Centralised
       • When the decisions are made by a small number of senior staff.
     • De-centralised
       • When decisions are made by a lot of members of staff.

3. Motivation

   • Maslow's hierarchy
     • You need to work your way up the pyramid
     • You cannot go up to the next stage until all of the others below are complete

4. Entrepreneur

   • An entrepreneur is someone who is willing to take risks, they believe that the benefits out-way the risks

5. Methods of motivation

   • More money if they do a good job
   • Praise
   • Threats, eg lose some of their pay if they don't reach a certain target
   • Bonuses

6. Social Enterprises

   • Are there to support the community
   • A non-profit organisation
   • All money made is put back into the company

7. Benefits of having motivated staff

   • Work harder
     • More produce
       • More profit
   • Happier atmosphere

8. Why people set up a business

   • They are unable to get a job
     • Have a criminal record
     • Don't have good qualifications
   • Want to be their own boss
   • Keep all of the profits to themselves
     • Make more money
   • Want to help others

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