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Organization Group of people who work together in a setting to achieve set goals It can be any social unit that sells products or services It can be an enterprise that produces materials demanded by sellers It can refer to office that is engaged in activities to oversee other offices Its relevance s...

Organization Group of people who work together in a setting to achieve set goals It can be any social unit that sells products or services It can be an enterprise that produces materials demanded by sellers It can refer to office that is engaged in activities to oversee other offices Its relevance stems from its ability to meet purpose Goals Broad targets set by individuals who are responsible for putting people together to become an organization Measures of what an organization aspires to do after a given time It articulates the purpose of any organization and communicate why an organization exists in the first place It defines the expected performance of an organization It serves as a measurement of success of an organization Resources Broadly skills, talent, and materials Anything with value or potential to generate benefit to an individual or organization Resources=more value Business Tools and Technologies are considered as a resources of an organization o Technological solutions or new ways of doing things to perform according to expectations o Valuable and beneficial as it assists organization in meeting their goals o Note that having resources does not automatically generate benefits to the org Management Approach to making people work together and perform as a unit Set of activities employed to meet the goals of an organization It deals with resources and the people who possess them Manager Head of social unit that decides what to do to meet its purpose Tasked with carrying out the management of the unit and other units attached to it Person in charge of managing an area or unit 4 Broad Functions that Constitute the work of all managers = Management Process Planning & DecisionMaking Planning – setting goals of the organization, formulating new goals to guide present actions and align them to reach future state Decision-Making – process of determining what must be done, translates plan into component actions for a given condition, and choosing what actions will make a plan a reality o Exercise of judgement by managers to make goals happen Can be made formally through company letters from managers o It can be verbally for urgency Process of determining how activities can be grouped and what tasks should perform so that individuals and the resources they possess can be utilized to achieve the goal It can involve grouping individuals with complementing talents into teams or attaching a unit to another group of people so they can work together It also involves allocating resources needed to make these teams work Actions to influence people to work together to achieve the goals of an organization Manager leads people over time to ensure they act together despite their differences Its activities are usually associated with messages or actions to demonstrate behavior that others will find inspiring o It requires judgement of situations to determine the message that will influence people’s behavior Actions to monitor performance, usually periodic, to ensure activities of individuals and the org as a whole are well within the path set by the manager o Organizing Leading Controlling Service Oriented Business Business Organization that generates income for its owners or investors Social unit dedicated to creating wealth for its owners and groups of people who depend on it Owners They have the primary stake in the organization They invest land, money, and talent with hope of creating resources that will be beneficial to them Individuals responsible for setting up the organization designed to make profits They can also be managers but some owners hire other individuals to do the management activities Inputs Business Processes Outputs Represent the resources required by the org Activities and systems that transform inputs into valuable outputs Products that customers purchase from the organization Types of Business Serviceoriented Businesses Organization that creates services as outputs Service – set of actions, information, tasks, or sensations that are valuable to customer o It can be in the form of expertise rendered, ex. Advice given by lawyers and consultants o Expert work done or convenience delivered by a contractor to an org o Merchandising Businesses Manufacturing Businesses In Tourism industry, hotels, travel agencies, airlines, tour guiding org, theme parks are classified as service Some can provide goods along with it, F&B establishment are typical examples of this type Purchases finished product and sells it to customers It creates profit by selling goods at a premium by adding a few touches to make it standout in the market Ex. Grocery, drug stores, convenience stores In Tourism, souvenir shop and retail stores that sell goods to tourists Buys raw materials and transforms them into goods Sells goods to customers at a price that covers the cost of producing the finished product Ex. Factories, farms, shops that make bespoke goods, construction companies for infrastructure Merchandising Manufacturing Both sells products and other tangible goods Purchase goods that can be They employ extensive readily delivered to business process to produce customers with some outputs that are different modifications from their inputs Profits Refer to the difference between the value of benefits gained less the cost of resources used to perform the beneficial activity Convenience and Experience = Service These are typically the main elements that customer pay for, thus restaurant and similar businesses are mainly classified as service-oriented business Marketing Managers are tasked to search for customers and entice them to buy their services Planning Identifying customers and analyzing trends to determine competitive positions Decision Decisions to pursue a particular segment and making sell services to this group Organizing Grouping employees into teams so they can work together in enticing the target customers Leading Providing feedback to teams so they stay motivated Controlling Tracking sales performance to ensure that resources and time are well spent Operations It is an extensive are to companies as it is the one that creates services and goods, so the company has something to sell Planning Identifying processes that will do a valuable service Decisionmaking Organizing Leading Controlling Decisions to pursue a particular set of activities that matches the requirements of marketing Grouping employees into teams so they can work together Providing feedback / activities to teams so they stay motivated and perform well Quality checks to ensure consistency of service and reliability of delivery Human Resource In charge of taking care of people in the business, hiring individuals for their talents and developing employees to adapt to changes and grow Planning Identifying competencies required by the organization Decision Prioritizing specific programs that fit the making budget and create an impact on employees Organizing Coordinating activities to deliver training and similar programs Leading It can be broad in this context since interest and welfare of all employees should be taken into consideration Controlling Tracking performance to ensure consistency with business goals Finance Deals with business financial resources, responsible for maintaining accounting records, ensuring proper use of financial resources, and in some cases investing activities Planning Setting profitability targets and setting budgets Decision Formalizing targets and budgets to match the making needs and expectations of other areas Organizing Setting schedules for team members to create reports and meet financial compliance requirements Leading Providing feedback to different teams so that they stay within the target Controlling Tracking financial performance to ensure funds are well spent Strategic Management Approaches are applied to evaluate relevant factors and set the direction for the company to follow Planning Defining overall status of the org, assuming a set of conditions Decision Defining the priority actions of other functional making areas of the company to make the business respond to developments and changing requirements over time Organizing Setting schedules over several years for team members to meet targets as the company grows Leading Regularly providing feedback to regroup teams to stay within targets and motivate them when they fall behind Controlling Tracking performance to ensure that resources are well spent, and milestones are consistent with target status of the firm in the longer term 3 Factors or considerations that can influence the adoption of technologies among hospitality businesses Technological Organizational Environmental It considers the available technical solutions and their compatibility with other systems of the business