INTRODUCTION TO BUSINESS SYSTEM PPT NEW.pptx
- 1. Prepared by BINDU .M.K. ASSISTANT PROFESSOR INTRODUCTION TO BUSINESS SYSTEM
- 2. Business systems are a set of repetitive processes that aim to achieve a specific objective. Benefits of business systems include greater efficiency, productivity, clarity, consistency
- 3. Objectives of Business System: 1. To meet the user and customer needs. 2. To cut down the operating costs and increase savings. 3. To smooth the flow data through various levels of the organization. 4. To handle data efficiently and provide timely information to the management. 5. To speed up the execution of results with the reliable data available in a system.
- 4. OVER VIEW OF BUSINESS SYSTEM
- 6. THE COMBINATION OF INTERNAL AND EXTERNAL FACTORS THAT INFLUENCE A COMPANY’S OPERATING SITUATION.
- 7. External Factors. Every business has a number of external factors that either directly or indirectly affect it. These factors can range from individuals, government regulations, environmental concerns, to other organizations and businesses.
- 8. Internal Environment Factors: The forces present within a business organization define its characteristics. These include the work culture, the level of machinery used, the management process, etc.
- 10. INPUTS ARE ANY RESOURCES USED TO CREATE GOODS AND SERVICES. EXAMPLES OF INPUTS INCLUDE LABOR (WORKERS’ TIME), FUEL, MATERIALS, BUILDINGS, AND EQUIPMENT. LABOR INPUT IS THE TIME PEOPLE SPEND WORKING TO PRODUCE GOODS AND SERVICES.
- 12. THE TRANSFORMATION PROCESS IN OPERATIONS MANAGEMENT IS ALL ABOUT CONVERTING INPUTS INTO OUTPUTS.
- 14. 1. To meet the user and customer needs. 2. To cut down the operating costs and increase savings. 3. To smooth the flow data through various levels of the organization. 4. To speed up the execution of results with the reliable data available in a system. 5. To provide timely information to the management
- 15. SYSTEM MODEL OF BUSINESS MANAGEMENT
- 16. THE SYSTEM INCLUDES GUIDELINES AND PROCESSES FOR DEVELOPING BUSINESS MANAGEMENT PLANS.
- 17. Business Management System is a multilevel hierarchy of business solutions that represent how a profit-oriented organization will carry out different functions (like Sales, Purchasing, Marketing, Staffing) to accomplish a task and achieve a goal successfully
- 19. MANAGEMENT
- 20. MANAGEMENT IS THE PROCESS OF GETTING THINGS DONE THROUGH OTHER PEOPLE
- 21. WHAT IS THE SYSTEM MODEL? IN THE SYSTEM MODEL, THE ORGANIZATION LOOKS AT THE OVERALL STRUCTURE AND TEAM ENVIRONMENT, AND CONSIDERS THAT INDIVIDUALS HAVE DIFFERENT GOALS, TALENTS AND POTENTIAL.
- 22. THE “SYSTEM” THE WORD “SYSTEM” COMES FROM THIS VIEW THAT THE MANAGER IS RESPONSIBLE TO HOLD TOGETHER THE TEAM – JUST LIKE ONE SYSTEM – CONNECTED WITH EACH OTHER THROUGH THE FEELINGS OF MUTUAL RESPECT AND FROM BEING AN INTEGRATED OVERALL PROCESS.
- 24. Business management is how a business manages itself and its operations to achieve its goals. For example, business management includes the management of inventory, production of goods, planning business activities, managing human resources, and so on.
- 26. Henry Fayol, the father of principles of management, has classified managerial functions as follows: (a) Planning, (b) Organizing, (c) staffing, (d) Directing, and (e) Controlling.
- 28. Planning involves tasks that must be performed to attain organizational goals, outlining how the tasks must be performed, and indicating when they should be performed.
- 29. Determining organizational goals and means to reach them Managers plan for three reasons 1. Establish an overall direction for the organization’s future 2. Identify and commit resources to achieving goals 3. Decide which tasks must be done to reach those goals
- 30. Organizing means assigning the planned tasks to various individuals or groups within the organization and cresting a mechanism to put plans into action. Process of deciding where decisions will be made, who will perform what jobs and tasks, and who will report to whom in the company Includes creating departments and job descriptions
- 31. Directing: It is considered life-spark of the enterprise which sets it in motion the action of people because planning, organizing and staffing are the mere preparations for doing the work. Direction is that inert-personnel aspect of management which deals directly with influencing, guiding, supervising, motivating sub-ordinate for the achievement of organizational goals. Supervision overseeing the work of subordinates by their superiors. It is the act of watching & directing work & workers.
- 32. Staffing has assumed greater importance in the recent years due to advancement of technology, increase in size of business, complexity of human behavior etc. The main purpose of staffing is to put right man on right job i.e. square pegs in square holes and round pegs in round holes. Staffing involves: Manpower Planning (estimating man power in terms of searching, choose the person and giving the right place). Recruitment, selection & placement. Training & development. Remuneration. Performance appraisal. Promotions & transfer.
- 33. Controlling is the measurement & correction of performance activities of subordinates in order to make sure that the enterprise objectives and plans desired to obtain them as being accomplished‖. Therefore controlling has following steps: (i)Establishment of standard performance. Measurement of actual performance. (ii) Comparison of actual performance with the standards and finding out deviation if any. Corrective action.