INFS1000 session1 notes.docx

INFS1000 session1 notes.docx - What is a business 1 What is...

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What is a business? 1 What is the purpose of a business? Production of products and services (adding value) Division of labour, dealing with complexity Collaboration of individuals to achieve a great goal Governance and control Efficient allocation of resources (input/output) Effectiveness: do the right things - value/quality Efficiency: do the things right - cost Make a profit Manufacturing: Original Equipment Manufacturers (OEMs) - brandholders: Toyota, Apple, Lenovo, Siemens Suppliers/license producers: parts, components Raw materials: steel, coal, rubber Service: Professional services: consulting, architects, financial planning, accounting, solicitors… Travel, leisure, hospitality Technology: IT services, engineering Education: TAFE, universities, etc. 1 How is a business organised? Functional organisation : Vertical and horizontal distribution of tasks Horizontal: functional - different functions involved in value creation Functional specialisation Vertical: hierarchical - different people involved in decision making Chain of command Process organisation: Organise materials/value flow through the organisation Fulfil orders, get things done (operations) 1 Where does a business operate?
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