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What are the basic considerations in forming an organization?
What are the basic considerations in forming an organization?
Basic considerations include form of ownership, organizational chart, key personnel, project schedule, and formulation of goals.
Which of the following is NOT a form of ownership?
Which of the following is NOT a form of ownership?
An example of a marketing objective is: 'To acquire at least ______ market share.'
An example of a marketing objective is: 'To acquire at least ______ market share.'
10%
Goals and objectives should be written down and communicated to all members of the organization.
Goals and objectives should be written down and communicated to all members of the organization.
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What is the purpose of a project's organizational chart?
What is the purpose of a project's organizational chart?
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Which chart is useful in presenting the duration of activities in a project?
Which chart is useful in presenting the duration of activities in a project?
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What are the socio-economic contributions of a project?
What are the socio-economic contributions of a project?
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Match the following forms of ownership with their characteristics:
Match the following forms of ownership with their characteristics:
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Study Notes
Basic Considerations in Forming the Organization
- The purpose of the project should be restated.
- The inputs from the marketing, technical and financial studies are relevant to organization and management.
- These inputs are combined to form the project's organizational chart.
Ownership
- Four main forms of ownership
- Single proprietorship
- Partnership: general or limited
- Corporation: small to large scale
- Cooperative organization: consumers, producers, marketing, or financing
Organizational Chart
- Shows the relationships and flow of authority between personnel from management to rank-and-file employees.
Officers and Key Personnel / Labor Requirement
- Names of specific individuals for key positions should be listed.
- Necessary educational background, work experience, training, and net worth of each position must be described.
Project Schedule
- Different activities in the preparatory stage of the project are presented in a Gantt Chart or PERT Network.
- Duration of each activity and sequence are outlined to establish a timeline.
- Project Management software can be used to prepare the schedule and associated PERT/CPM.
- This allows for simulating "what if" scenarios with delays, resource delivery issues, or funding problems.
- Progress can be tracked and slippages can be addressed.
Socio-Economic Considerations
- A project should generate revenues, profits, and social and economic benefits for stakeholders.
- This portion of the study determines the socio-economic contributions.
- Benefits include improved standard of living, community enhancement, foreign exchange savings, price reductions, and increased demand for local materials.
- Analysis should examine the impact of the project on:
- Employment and income
- Taxes
Impact on the Economy
- Employment and income generation directly benefit employees and their families.
- Indirectly, it benefits the local and national economies.
- Increased income leads to more goods being demanded, which stimulates production and generates further employment and income.
- Projects can affect the supply situation:
- In industries with few sellers, a project can reduce shortages, leading to lower prices.
- In crowded industries, the project may result in improved quality or lower prices if it is competitive.
- Production activity creates additional demand for related industries.
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Description
This quiz covers the foundational aspects of forming an organization, including ownership structures, organizational charts, and essential personnel roles. It also addresses the significance of combining various studies to establish a complete project management framework. Test your understanding of these key management concepts.
