What is a Business?
An profit or non- profit concern organization which work towards providing needs and wants of the society. Thus profit organizations mainly concentrates on making profits where no profitable organizations work towards improving the service not making profits. (Sba.gov,2012)
According to BBC (2012), main objectives and aims of a business are as follows:
Thus it is very useful to have an objective because the staff can work towards achieving the targets at the end of the business year efficiently. For example the management could instruct the staff to achieve business growth by 10% at the end of the year, hence the objectives does cater to vastly in making the above figures. Most of the organizations set their objectives according to the SMART theory which is efficient and reliable.
However the main objective of an organization is to work on maximization of profits and reducing the costs.
What is a Business Process?
According to Sparx Sytems (2004), Business process is a collection of activities working together to produce a certain requirement of the consumer or the market. Hence they concentrate on the above objectives during the process.
What is downsizing in business?
As mentioned by Kortz (2011), downsizing means reducing the number of employees in the company to cope up with the prevailing economical status.
What is rightsizing?
Rightsizing means maximization of profits or the objectives and cutting down the costs of the company (Burrus et al, 2012)
Identification of the problem background and analyzing.
We were made aware of how to identify a problem for our FYP submission, hence as the first step an organization or a community should be identified, then it should be centrifuged to obtain the sub sections of it. Hence come the step of identifying a solid problem which should be addressed. After that collection of statistical reports and other documents should be done, as evidence is needed to prove the problem.
After all the above steps a solid analysis should be made upon the problem, to obtain a proper solution. Also we were taught how to write a problem statement in an appropriate manner.
What is a problem statement?
At the end of this session I understood the proper way of building up a problem statement in order to address a problem efficiently. Also how to use it in the industry to achieve productive results.
An profit or non- profit concern organization which work towards providing needs and wants of the society. Thus profit organizations mainly concentrates on making profits where no profitable organizations work towards improving the service not making profits. (Sba.gov,2012)
According to BBC (2012), main objectives and aims of a business are as follows:
- Survival
- Increased profits
- Growth
- Increasing market share
Thus it is very useful to have an objective because the staff can work towards achieving the targets at the end of the business year efficiently. For example the management could instruct the staff to achieve business growth by 10% at the end of the year, hence the objectives does cater to vastly in making the above figures. Most of the organizations set their objectives according to the SMART theory which is efficient and reliable.
However the main objective of an organization is to work on maximization of profits and reducing the costs.
What is a Business Process?
According to Sparx Sytems (2004), Business process is a collection of activities working together to produce a certain requirement of the consumer or the market. Hence they concentrate on the above objectives during the process.
What is downsizing in business?
As mentioned by Kortz (2011), downsizing means reducing the number of employees in the company to cope up with the prevailing economical status.
What is rightsizing?
Rightsizing means maximization of profits or the objectives and cutting down the costs of the company (Burrus et al, 2012)
Identification of the problem background and analyzing.
We were made aware of how to identify a problem for our FYP submission, hence as the first step an organization or a community should be identified, then it should be centrifuged to obtain the sub sections of it. Hence come the step of identifying a solid problem which should be addressed. After that collection of statistical reports and other documents should be done, as evidence is needed to prove the problem.
After all the above steps a solid analysis should be made upon the problem, to obtain a proper solution. Also we were taught how to write a problem statement in an appropriate manner.
What is a problem statement?
"It is a clear, stand‐alone statement that makes explicit what it is you are aiming to discover or establish" (WBS,2012).
According Schwartz (2007) a problem statement must include the following,
- Lead-in;
- Declaration of originality (e.g., mentioning a knowledge void, which would be supported by the literature review);
- Indication of the central focus of the study; and
- Explanation of study significance or the benefits to be derived from an investigation of the problem.
At the end of this session I understood the proper way of building up a problem statement in order to address a problem efficiently. Also how to use it in the industry to achieve productive results.
References
AWLP (2012) Flexible Rightsizing as a Cost-Effective Alternative to Layoffs. [online] Available at: http://www.awlp.org/pub/FlexTool.pdf [Accessed: 11 Nov 2012].
Bbc.co.uk (2010) BBC - GCSE Bitesize: Different types of business aims and objectives. [online] Available at: http://www.bbc.co.uk/schools/gcsebitesize/business/aims/partnershiprev1.shtml [Accessed: 11 Nov 2012].
Library and Information Science Editors (2012) What is a problem statement?. [online] Available at: http://www.lis-editors.org/bm~doc/editorial-problem-statement.pdf [Accessed: 11 Nov 2012].
Microsoft.com (2010) 12 Smart and Humane Ways to Downsize Your Business. [online] Available at: http://www.microsoft.com/business/en-us/resources/business-startups/budgeting-and-expenses/business-downsizing.aspx?fbid=r05i6u-zkm6 [Accessed: 11 Nov 2012].
SBA.gov (2012) Business Organizations. [online] Available at: http://www.sba.gov/content [Accessed: 11 Nov 2012].
SPARX Systems (2004) Business Process Model. [online] Available at: http://www.sparxsystems.com/downloads/whitepapers/The_Business_Process_Model.pdf [Accessed: 11 Nov 2012].
Wits Business School (2012) How to write your Research Problem Statement at WBS. [online] Available at: http://www.wbs.ac.za/download_files/research/research_problem_statement.pdf [Accessed: 11 Nov 2012].
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