Business Characteristics, Benefits, Ethics, and Structures

Characteristics of Businesses

Businesses consist of a number of people.

The people who belong to them will share some values and views about the purpose of the businesses.

They will have incomes and costs, profits and losses.

They need different types of resources to produce different goods and services.

They need to coordinate a number of different activities done by different individuals.

Benefits of Small Businesses

  • Creating employment: more than 90% are employed in SMEs in the western world.
  • Their output
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Business Communication and Organizational Structure

Formal and Informal Organization

Organizations can be defined by management or arise spontaneously through relationships. These relationships lead to formal and informal organizational types.

Informal Organization

Informal organization refers to the joint social relations that arise spontaneously within a company. It is more difficult to establish than the formal structure.

Communication in Business

Elements of Communication

Communication involves the transfer of information from a sender to a receiver.

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HR Roles, Responsibilities, and Team Dynamics in Organizations

Organizational Demands on Human Resources

Organizations’ demands on human resources:

  • Understand and assume the company strategy (mission, vision, values).
  • Define positions within a dynamic organization.
  • Recruit adequate staff.
  • Facilitate job performance and compromise.
  • Recognize good work and correct the bad.
  • Facilitate employee engagement.

HR Management Roles

  • HR Director (CPO): Strategy
  • HR Managers (Specialists): Execution of HR strategy
  • HR Business Partner (HRBP): Supports the Director of a Business Area
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