Applied Business Tools and Technology Chapter 1 PDF

APPLIED BUSINESS TOOLS AND TECHNOLOGY 1 CHAPTER 1 mAnagement in Service-Oriented Business Settings 2  introduction What is BUSINESS TOOLS AND TECHNOLOGIES (BTTs)? These are resources that can help mangers of organizations achieve their target...

APPLIED BUSINESS TOOLS AND TECHNOLOGY 1 CHAPTER 1 mAnagement in Service-Oriented Business Settings 2  introduction What is BUSINESS TOOLS AND TECHNOLOGIES (BTTs)? These are resources that can help mangers of organizations achieve their targets productively and make their businesses transform in any way to become more effective and efficient. 3  WHAT IS Management? Broadly, organization is a group of people who work together in a setting to achieve set goals. Goals are broad targets set by individuals who are responsible for putting people together to become an organization. Resources can be anything with value or the potential to generate benefit to an individual or organization. 4  WHAT IS Management? Management can be defined as the set of activities employed to meet the goals of an organization. The person in charge of managing an area or unit will generally be referred to as a manager. 5  WHAT DO managers DO ? Managers can be involved in a variety of activities, there are four functions that constitute the work of all managers. 1. Planning and Decision-making; 2. Organizing; 3. Leading; and 4. Controlling. When these functions are stringed together, we refer to them as the management process. 6  planning Involves setting the goals of the organization. decision-making Translates a plan into component actions for a given condition. 7  organizing Refers to the process of determining how activities can be grouped and what tasks should people perform. leading Are actions to influence people to work together to achieve the goals of the organization. controlling Are actions to monitor performance, usually periodic, to ensure that the activities of individuals and the organization as a whole are well within the path set by the manager. 8  9 Figure 1. The Management Process  WHAT IS A service-oriented business? An organization that generates income for its owners or investors is generally referred to as a business or company. Different business forms can be analyzed in terms of the inputs they use, the business processes they employ, and the outputs that they create that customers buy. INPUT BUSINESS OUTPUT PROCESSES Figure 2. Components of a Business Organization 10  WHAT IS A service-oriented business? Businesses can be distinguished in the nature of the business processes they employ and the outputs that they create. 1. Service-oriented Businesses; 2. Merchandising Businesses; and 3. Manufacturing Businesses. 11 service-oriented business An organization that creates services as an ouput. merchandising business An organization that purchases a finished product and sells it to customers. manufacturing business A business that buys raw materials and transforms them into goods or final product. 12 special note: Some service-oriented businesses provide goods along with service. Profits refer to the difference between the value of benefits gained less the cost of the resources used to perform the beneficial activity. 13  WHAT DO managers D O I N A service-oriented business? Managers may work in various areas of a service-oriented business. In most companies, these includes marketing, operations, human resources, and financial areas. marketing operations human resource financial 14 now, Many service-oriented businesses do not have the people and resources to assign these managers. Over the years, BTTs have facilitated the merger of some management areas to meet organizational goals. New technology can create shifts in management. Three factors can influence its adoption among hospitality businesses: 1. Technological Considerations; 2. Organizational Considerations; and 3. Environmental Considerations. 15 TECHNOLOGICAL ORGANIZATIONAL ENVIRONMENTAL CONSIDERATIONS CONSIDERATIONS CONSIDERATIONS REQUIRED INDUSTRY AND bENEFITS TECHNICAL SKILLS COMPETITION FINANCIAL BUSINESS COMPATIBILITY RESOURCES PARTNERS TOP MANAGEMENT CUSTOMER RISKS SUPPORT EXPECTATIONS BUSINESS TOOLS AND TECHNOLOGY ADOPTION MANAGEMENT PROCESS PLANNING AND ORGANIZING LEADING CONTROLLING DECISION-MAKING Figure 3. Factors Affecting Adoption of Business Tools and Technologies 16  CHAPTER 1 CHAPTER SUMMARY 17  Thank You FOR LISTENING UCC.DTHIM.KRG.COM 18