Bme1 3
Bme1 3
Bme1 3
1. Global economy
The interconnected worldwide economic activities that take place between multiple
countries.
2. Firs-level managers
Supervise and coordinate the activities of operating employees. The majority of their work is
direct supervision of the work of their subordinates.
3. Middle managers
Are the largest group of managers in most companies. They primarily take the goals and
strategies designed by top managers and put them into effect.
4. Top managers
control the organization by setting its goals, Overall strategy, Operating policies. These
managers make important decisions about which activities the organization should be
involved in, such as acquisitions, research and development, and expanding capacity.
5. Management function
Planning, organizing, staffing, directing and controlling. Each of these functions plays a
critical role in helping organizations achieve efficiently and effectively.
6. Planning
Planning means setting an organization's goals and deciding how best to achieve them.
7. Social responsibility
Individuals and companies have a duty to act in the best interests of their environment and
society as a whole.
8. Role
Positions that have certain sets of responsibilities.
9. Technical
The ability to understand and carry out a specific task, or series of tasks, in the workplace.
10. Concept
Are defined as ordinary ideas or general notions that occur in the mind, in speech, or in
thought. They are understood to be the fundamental building blocks of the concept behind
principles, thoughts and beliefs. They play an important role in all aspects of cognition.
11. Laissez-faire
An economic system in which transactions between private groups of people are free from
or almost free from any form of economic interventionism such as regulation and subsidies.
12. Society
Is a group of individuals involved in persistent social interaction, or a large social group
sharing the same spatial or social territory, typically subject to the same political authority
and dominant cultural expectations.
13. Efficiency
Means using resources wisely and without unnecessary waste.
14. Effectiveness
Means doing the right things successfully.
15. Teamwork
The collaborative effort of a group to achieve a common goal or to complete a task in the
most effective and efficient way.
Exercise # 3: Enumeration
1. Esprit de corps
the common spirit existing in the members of a group and inspiring enthusiasm, devotion,
and strong regard for the honor of the group.
2. Scalar chain
a chain of all supervisors from the top management to the person working in the lowest
rank.
3. Centralization
the process in which activities involving planning and decision-making within an
organization. Depending on a company's goals and the industry are concentrated to a
specific leader.
4. Division of Work
the course of tasks assigned to, and completed by, a group of workers in order to increase
efficiency. Division of work, which is also known as division of labor, is the breaking down of
a job so as to have a number of different tasks that make up the whole.
5. Classical
means something traditionally accepted or long-established. It does not mean that classical
views are static and time bound that must be dispensed with.
6. Behavior
the way in which one acts or conducts oneself, especially toward others.
7. Collaborative environment
designed for distributed teams which can be defined as groups of people that interact
through interdependent tasks guided by common purpose, and work across space, time,
and organizational boundaries primarily through electronic means.
8. Theory
a carefully thought-out explanation for observations of the natural world that has been
constructed using the scientific method, and which brings together many facts and
hypotheses.
9. Concept
Are defined as ordinary ideas or general notions that occur in the mind, in speech, or in
thought. They are understood to be the fundamental building blocks of the concept behind
principles, thoughts and beliefs. They play an important role in all aspects of cognition.
10. Gantt Chart
is a type of bar chart that illustrates a project schedule, named after its inventor, Henry
Gantt, who designed such a chart around the years 1910–1915. Modern Gantt charts also
show the dependency relationships between activities and the current schedule status.
Exercise # 3: Enumeration
1. Decoding
This is the interpretation of the message. Decoding is performed by the receiver.
2. Effective communication
Is defined as the ability to convey information to another effectively and efficiently. Business
managers with good verbal, nonverbal and written communication skills help facilitate the
sharing of information between people within a company for its commercial benefit.
3. Feedback
In some instances, the receiver might have feedback or a response for the
sender. This starts an interaction.
4. Oral communication
Communicating with spoken words. It's a verbal form of communication where you
communicate your thoughts, present ideas and share information.
5. Job specializtion
A process where individuals or employees develop specific skills and expertise to perform
certain activities. It involves training the person to excel in a given set of tasks.
BMCS Lending Corporation is a 10-month-old business located in Talibon, Bohol. Its principal
business is lending money to the lower and middle classes of people. Although it is a new lending
institution, it has many borrowers. Bong Go, the president, is a socially-oriented person. His loan policies
are attractive. As a result, the volume of business keeps on increasing every month.
The president is very active and generous in social development projects for the poor. With the
approval of the Board of Directors, he has been donating big amounts of money to victims of natural
calamities, scholarships for the poor students, and home for the street children and the aged.
Such philanthropic activities of the president have caught the attention of many stockholders. They
claimed that such money donated should be used for business expansion since the business is still young
and not yet the proper time to engage in charity. The stockholders intended to oppose vigorously such
charitable activities of the president in the coming stockholders meeting.
Questions: 1. If you were the president, how would you defend your activities for the poor?
By explaining to them thoroughly the goodness of the action and how it can help a
lot of people. Doing charities can also help the company's publicity and being able
to get a charitable donation tax deduction. One of the great privileges of running a
small business is being able to give generously to community organizations and
charitable causes that matter to you. charitable companies will earn a reputation as
being “good” companies, and people will be more likely to want to go to them.
2. Do you agree with the stockholders? Why?
No, because doing a charitable activities is never a mistake.