POB SECTION 2

Privacy Violation

Breach of an individual's privacy rights, often involving unauthorized access to personal information.

Data Protection Laws

Legal regulations that govern the collection, use, and storage of personal data to ensure individuals' privacy and security.

Money Laundering

The process of disguising illegally obtained funds to make them appear legitimate.

Manager

A leader responsible for efficiently organizing people, resources, and finances efficiently within an organization.

Management

the process of bringing factors of production together to ensure organizational goals are achieved.

7 FUNCTIONS OF MANAGEMENT

• Planning: creating plans that set out short-term and long-term goals to achieve the overall goals of a business.

• Organizing: This involves bringing together the factors of production to accomplish the goals of the business.

• Directing: this involves getting people to perform duties efficiently and effectively.

• Controlling: This involves setting standards to ensure goals are being achieved by monitoring employees and making necessary corrections.

• Coordinating: this involves bringing together the various elements of a plan or an organizations resource in the business so that they work together harmoniously.

• Delegating: Assigning tasks to subordinates

• Motivating: Encouraging and influencing workers to be more productive in doing their work

RESPONSIBILITIES OF MANAGEMENT TO Owners, Employees, Society, Customers, Government

• Owners& shareholders- to efficiently run the organization to maximise profits and ensure optimum investment returns

• Employees- Responsible for profitable business, fair wages, good working conditions, and good human relations

• Society- provide jobs and income, listen to views of the wider community, ensure laws are followed, practice fairness and support charity

• Customers- served efficiently by providing quality goods and services at reasonable prices

• Government- ensure government rules and laws are followed, on-time tax payments and deductions from employees’ salaries.

Line of authority

Lines that indicate the roles and responsibilities of each person in an organization.

Hierarchy

A system that ranks things according to power or importance.

Silo

when a business has a group of experts separated by departments, specialization or location.

Chain of command

reporting relationship between employees from bottom to top.

Span of control

number of subordinates or direct reports a supervisor is responsible for.

Flat Organization

there is no hierarchical levels between employees.

Tall Organization

when a business is broken down into several layers with executives on top and normal employees on bottom.

Line and Organizational Chart

A visual depiction of the hierarchical structure of an organization

Planning

The process of creating short-term and long-term plans to achieve the overall goals of a business.

Leadership

The ability to influence and guide followers or members of an organization towards a common goal.

Character traits:

notable features of a person’s character,

CHARACTERISTICS OF LEADERSHIP

• Honesty

• Flexibility

• Focus

• Trustworthiness

• ability to make intelligent decisions.

Leadership Styles

• Democratic: A leader who seeks input and considers team feedback when making decisions often promotes greater employee engagement.

• Autocratic: has individual control over all decisions with little input from group members

• Charismatic: uses both verbal and non-verbal communication to charm, influence, and persuade others to achieve their goals.

• Laissez-faire: takes a hands-off approach to leadership and gives others freedom to make decisions.

• Transformational: inspires employees to strive beyond required expectations to work toward a shared vision

Conflict & 2 types

a disagreement between individuals, groups or organizations that has risen due to a difference in views and decisions made.

• Negative Conflict - Conflict happens when there are disagreements and a lack of agreement on how to achieve an organization's goals.

• Positive Conflict - conflict occurs when there are disagreements about how a business should progress

3 Internal Sources of Conflict

• Poor working conditions

• Competition among employees regarding performance and

• promotion

• Breakdown in communications leading to false information

• Industrial relation issues such as Breach of Labour or Industry Law

• Unfair treatment of employee

• Unfair dismissal

• Management or leadership issues

3 Strategies used by employers during conflict

• Lock Out:Employees are told to stay home; organization closes its doors

• Scab Labour:Employees replacing those on strike

• Negotiation:The organization and union discuss and bargain to arrive at an

  agreement

3 Strategies used by employees during conflict

• Strike Action: Union permits employees to stop working.

• Work to Rule: doing only what is officially required in the job description or employment contract this slows down production.

• Go-Slow: workers work at a slow pace, taking them longer to complete a task

Picketing

a form of protest that is done by gathering outside of the workplace where an event is taking place

Conflict Resolution

Managing and resolving disagreements between parties to improve communication and relationships.

3 Strategies for resolving conflict

• Collaborating (win/win)

• Compromise (win some/winsome)

• Accommodation (lose/win)

• Competing (win/lose)

• Avoiding (lose/lose)

Strategies for dealing with conflict over labour issues

• mediation

• arbitration

Trade Unions

Groups of workers that engage in collective bargaining to negotiate for better wages, working conditions, and dispute resolution.

Grievance Procedures

Processes used to resolve conflicts when labor laws are violated or workers are treated unfairly.

Teamwork

Collaboration among individuals to achieve a common goal, leading to improved decision-making and productivity.

3 Guidelines for establishing good relations between managers and employees:

• Good communication with workers

• Improve working conditions

• Motivating workers

• Practicing good leadership

Strategies for Motivating Employees

Financial – Flat rates, Time rates, Piece rate, bonus, commission

Non-Financial (also called Fringe Benefits) – a company car, bursaries for children’s education, free or subsidized meals at work, use of a mobile phone.

3 Advantages of teamwork

• The quality of decision making is improved by sharing ideas

• Quantity and quality of output would be abundant and improved

• Ensures continuity

• They can motivate each other

• Builds good human relationships

3 Disadvantages of teamwork

• Decision making is time consuming

• Conflict may arise during decision making

• The cost of trading might be high