Download e-book for kindle: ACCA F1 Accountant in Business Key Study Text by Emile Woolf Publishing Limited

By Emile Woolf Publishing Limited

ISBN-10: 1848430256

ISBN-13: 9781848430259

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Additional info for ACCA F1 Accountant in Business Key Study Text

Example text

Having order in the work place implies that any changes to procedures and processes should be gradual and evolutionary, rather than radical (because radical change will provoke anxiety amongst employees). This principle is not accepted by those who argue that radical changes to processes and business systems are often essential for a business to maintain or improve its competitiveness. „ Equity. A sense of fairness and justice should exist throughout an organisation. „ Stability of tenure. An employee needs time to get used to a job and perform it effectively.

Even divisional structures and matrix organisations use functional management structures. The number of different functions and the type of functions will vary with the nature of the business operations and activities. Most large companies have some or all of the following functions: „ Research and development „ Purchasing „ Operations „ Marketing „ Administration „ Finance. Outsourcing functional activities These functions are usually carried out by specialist departments within the company. However, some functions might be ‘outsourced’ to a separate company.

An employee needs time to get used to a job and perform it effectively. Employees should therefore be given stability of tenure in their job, and should not be moved continually from one job to another. Stability of tenure also promotes employee loyalty to the organisation. „ Initiative. If employees at all levels in the organisation are given scope to show initiative, there will be much more enthusiasm and energy. com for Q/As, Notes & Study Guides 37 Paper F1: Accountant in business argued that the performance of an organisation is improved by ‘empowering’ employees to use their initiative and make decisions for themselves.

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ACCA F1 Accountant in Business Key Study Text by Emile Woolf Publishing Limited

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