L5 Notes
L5 Notes
Credits:3
CCMB501:Organize a business
Content:
BUSINESS REQUIREMENT: Those are the needs of the business in order to run
Step3: CHECK COMPLETENESS: Refers to the verification of the missing requirements in order to add on
the list.
Step4: ANALYZE REQUIREMENTS: Refers to make an analysis about the listed requirements
Step5: VALIDATE REQUIREMENTS: Refers to check whether the listed requirements are really priorities.
STEP6:MANAGE REQUIREMENTS: Refers to check whether all listed requirements are set according to
the customer needs.
DIRECT PRODUCTION When a person produces what she OR he will consume himself or herself.
SECONDARY PRODUCTION; It is the production that transforms raw materials into final product
The sector which transforms maize into maize floar: ex:Kinazi cassava plant
SECTORS OF PRODUCTION
START UP FINANCE
FINANCE: The finance is the provision of money at the time when it is needed by the business
Provide employment
EMPLOYEE RECRUITMENT Refers to the process of hiring or attracting qualified workers to fill the job
vacancy.
SELECTION It is the process of choosing the best candidates over many others.
External RECRUITMENT
Example: promotion
Transfer
Employment agencies
Media advertisement
Step6: Interview
Oral test
Step7: Evaluation
Step8: Hiring
RECRUITMENT PROCESS
INTERNAL FACTORS
Budget constraint
PRODUCTION level
Sales increase or decrease
Tribal expansion plans
EXTRENAL FACTORS
Change in technology
Change in laws
Unemployment rate
Shift in population
Shift in urban and rural areas
Competition
Branding (naming)
Competetive remuneration
PURPOSES OF PURCHASING
Decentralized PURCHASING
Economy in recording
Minimize investment in recording
Cost of transport is low
Easy to control
PRINCIPLES OF PURCHASING
Right place
Right quality
Right quantity
Right time
B)Right place: The good PURCHASING should be made at the best supplier
C)Right quality: The good PURCHASING should be based on PURCHASING good quality of product
D)Right quantity: The good PURCHASING should be based on sufficient quantity of product
PURCHASING PROCEDURES:
Step7:Place order
IT means to behave according to the moral standards set by the society we live in
Individuals that behave unethically will normally loss other people’s confidence and their
unethical behaviour should be also punished by law.
BUSINESS ethics: Set of moral RULES that govern how business decisions are made and how people are
treated
To attract investors
To attract more EMPLOYEES
To attract customers
To attract government support
To work with responsibility
To work with honest at the work place
To avoid evil acts in the business
A)POSITIVE ATTITUDES: Set of values that the members of any organization should have
Prudence
Rigour
Flexibility
Patience
Sociability
Care
Critical thinking
Believe in yourself
Be honest
Stop blaming others
Dismiss the workers who doesn't respect terms and conditions agreed in the contract
Punish the workers who always come late without any tangible reason
Punish the workers who provide bad service to customers
Punishment to the workers who do net respect their supervisors etc
Three 3TYPES
A. Mistreating employees
B. Financial misconduct
C. Mis representation
Examples:
EXAMPLES
Corruption
Stealing of money
Embezzlement of cash
Fraudulent manupulation of account
Example
Instead of showing that 10000frw has been used, show that 15000frw been used by
lying.
Four4 techniques:
Rewards.
Policies.
Training.
Expectation
Ways to address unethical behaviour at the dark place/method of Handling Unethical behavior in a
business
Punishment.
Sensitive about ethical values
Appreciate to same One who practices ethical behaviour
R.A.C.I MATRIX: Is a chart that defines and documents ownership and responsibilities at each stage of
your project.
R: Responsible
A:Accountable
C: Consulted
I:Informed
1. Responsible: Means that one person (or few people) who are responsible for completing the
assigned tasks or function
2. Accountable; The person who is accountable for successful completion of the work
4.Informed: The people or stakeholders who need to be kept in the loop with the progress reports
and updates.
In other words those letters assign roles and responsibilities for each tasks .
1. RAC matrix helps you to set clear expectations about project roles and responsibilities
2. RAC matrix also encourages team members to take responsibilities for their work
3. IT helps to clarify roles and eliminate confusion.
4. It helps to organize,MANAGE certain people with specific tasks
5. It leads business to succeed
6. It helps each team member and stakeholders to understand their specific roles.
Business relations: Are connections between stakeholders in the process of the business
Employer, employees,customers,government
Shareholders: People who has invested their shares in the business in order to get the dividends
To attract customers
To retain customers
To increase more customers
To advertise the business in the mind of customers
For business expansion
To maximize the profit
Business goals: Is a part of planning process that describes what a company expect to accomplish over a
specific period of time
Business resource: It is any thing or every thing that helps a business to operate
RESOURCE OPTIMIZATION:
Refers to the set of process and methods to match the available resources with the needed of the
company to achieve the goals
To maximize profit
To expand the company
To resist on market place
To compete others
Future use of resources of the company
Future vision
To avoid loss
A)Employees
C)Stakeholders
Product promotion: Is any form of communication used to inform and remind people about an
organization goods and services
Marketing: Refers to the activity undertaken by business to promote the buying and selling of
product or services
1. Public RELATION
2. Advertising
3. Sales promotion
4. Personal selling
5. DIRECT marketing
.Community relations
B)Advertising: It is the process of calling public attention to an idea of goods and services through paid
announcement
C)Sales promotion: It is the marketing strategy where the product is promoted using short term
attractive to stimulate its demand and increase its sales
D)Personal selling: It is also known as face to face selling in which one person who is the sales man tries
to convince a customer in buying the products
E)DIRECT marketing: When the business sells products or services directly to the public
Mail order,etc
PROMOTIONAL STRATEGIES
MARKETTING COMPAIGN
FORMS OF ADVERTISMENTS
Newspapers
Television
Radio
IMPORTANCE OF ADVERTISMENT
Effective employee meeting : Are gatherings in which Agenda is clearly, the meeting is carefully structed
and the participants arrive organized and prepared for the event
By planning of seating position, preparing well the documents used in the meeting, planning the
budget of water will be used during meeting
CUSTOMER IQUIRIES
1) Ask questions
2) Investigations
3) Observations
4) Discuss with them
5) Interview
CUSTOMER NEEDS
Business plan: Is a formal document that describes what,how,where and when to make your business
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