Understanding Organizational Transformation and Adaptation
Organizational Change
It is the process through which organizations modify their current state to achieve a more effective future.
Objectives of Change
The goal is to increase the effectiveness of:
- Human Resources: Improving knowledge, skills, and motivation.
- Functional Resources: Developing procedures to manage changing environments. As conditions shift, resources are redirected to functions that create the most value.
- Technology: Enhancing the ability to create new products to respond to change.
- Organization:
Fundamentals of Business Structure and Entrepreneurial Success
The Company Structure
1.1 Corporate Functions and Objectives
Any company performs two basic functions: buying and selling.
Firms sell goods and services demanded by households. In turn, firms need to buy productive assets held by families, mainly labor (manpower) and capital (money). Households consume and pay for these goods or services using the wages and interest they receive from the firms.
1.2 Essential Business Elements
A company is typically composed of four main groups:
A. The Team (Human Resources)
Read MoreAdam Smith and Karl Marx: Economic Thought Comparison
Adam Smith (1723 – 1790)
Scottish philosopher and economist, one of the greatest exponents of classical economics. In 1776, he published “An Inquiry into the Nature and Causes of the Wealth of Nations,” which is considered the foundational text of political economy.
Key Contributions of Smith
- It was the first attempt to analyze the determinants of capital formation and the historical development of industry and trade between European countries, establishing the basis for modern economic science.
- Smith
Key Banking Concepts: Understanding Financial Services
Here is a brief overview of the requested banking concepts:
– Issue Management: Issue management refers to the process of managing new securities issues by companies to raise capital from the public. It involves planning, promoting, underwriting, pricing, and distributing securities. Issue managers coordinate with regulators, stock exchanges, and investors to ensure smooth and successful capital raising, often aided by merchant bankers.
– Underwriting Services: Underwriting is a service where an investment
Read MoreComplaint Resolution Process Steps and Outcomes
Analysis of Complaint or Claim
Service Provision
We should be able to suggest a solution. The response to a complaint may include:
- A refund of the money (reembolso)
- Technical assistance
- Provide necessary information (proporcionar info)
- Replace the damaged product
- Repair the product
- Compensate for the damages
- Apologize (disculpas)
- Offer gifts or expressions of goodwill
Analysis of Satisfaction
The company must verify the level of customer satisfaction with the solution and the process implemented. Surveys are
Read MoreStrategic Management Concepts and Core Components
Understanding Strategic Management
Strategic management is the set of decisions and actions that result in the formulation and implementation of plans designed to achieve a company’s objectives.
Dimensions of Strategic Management
1. Top-Management Decisions
- Strategic decisions overarch several areas of a firm’s operations.
- Usually, only top management has the perspective needed to understand their broad implications.
- Only top managers have the power to authorize necessary resource allocations.