Definitions

 Name: David Aguilera Mújica

NUA: 760033

Task 1 Definitions 

Administration 

Provide a definition of administration. 

Administration can be defined as the process that consists of planning, organizing, directing and controlling human, technical and financial resources aimed at achieving organizational objectives.

Concepts of Administration 

Planning.

Organization

Direction

Control.

Universal functions in Administration 

Planning ...

Organization. ...

Direction. ...

Control. ...

Evaluation.

Business 

Define Business 

It is an economic activity that seeks to obtain profits mainly through the sale or exchange of products or services that satisfy the needs of customers. It can include one or more stages of the production chain such as: extraction of natural resources, manufacture, distribution, storage, sale or resale.

Concepts of Business. (Define them in detail) 

A company is understood to be the social organism made up of human, technical and material elements whose natural and main objective is to obtain profits, or the provision of services to the community, coordinated by an administrator who makes decisions in a timely manner to achieve of the objectives for which they were created. To meet this objective, the company combines nature and capital.

Objective of Business. 

They focus effort on a definite achievement.

 They must be known by all members of the company and shared to unify your organization.

 Poorly defined business objectives can take you away from your goal and lead to losses.

Types or classification of business. (Define each in detail) 

According to the Activity Sector:

Primary Sector Companies: Also called extractive, since the basic element of the activity is obtained directly from nature: agriculture, livestock, hunting, fishing, extraction of aggregates, water, minerals, oil, wind energy, etc.

Secondary or Industrial Sector Companies: Refers to those that carry out a raw material transformation process. It covers activities as diverse as construction, optics, wood, textiles, etc.

Companies in the Tertiary or Service Sector: Includes companies whose main element is the human capacity to perform physical or intellectual work. It also includes a wide variety of companies, such as transport, banks, commerce, insurance, hotels, consultancies, education, restaurants, etc.

According to Size: There are different criteria used to determine the size of companies, such as the number of employees, the type of industry, the sector of activity, the annual sales value, etc.

Large Companies: They are characterized by managing capital and large financings, generally have their own facilities, their sales are of several million dollars, they have thousands of trusted and unionized employees, they have a very advanced administration and operation system and can obtain lines of credit and major loans with national and international financial institutions.

Medium Companies: In this type of company several hundred people are involved and in some cases up to thousands, they generally have a union, there are well-defined areas with responsibilities and functions, they have automated systems and procedures.

Small Companies: In general terms, small companies are independent entities, created to be profitable, that do not predominate in the industry to which they belong, whose annual sale in securities does not exceed a certain limit and the number of people that comprise them does not exceed a certain limit.

Micro-enterprises: Generally, the company and the property are individually owned, the manufacturing systems are practically artisanal, the machinery and equipment are elementary and small, matters related to administration, production, sales and finance are basic and small. and the director or owner can attend them personally.

According to the Ownership of Capital: It refers to whether the capital is in the hands of individuals, public bodies or both. In sense, they are classified as:

Private Company: The ownership of the capital is in private hands.

Public Company: It is the type of company in which the capital belongs to the State, which can be National, Provincial or Municipal.

Mixed Company: It is the type of company in which the ownership of the capital is shared between the State and individuals.

What does “form of business ownership” refer to? Provide definitions. 

Management 

Define management.  

Management is a set of procedures and actions that are carried out to achieve a certain objective.

Functions of management. (Describe them in detail) 

Planning: Short and long-term goals are set. This, based on an analysis of the current situation.

 Organization: The procedures and strategies to be followed to achieve the objectives are determined.

 Direction: It is the implementation of what is planned, sometimes having to have a manager who leads a group of people so that everyone works towards the achievement of the same objectives.

 Control: It is the final stage, when the results obtained are compared with what was planned in advance.

Important areas of knowledge for a business manager. Mentions as many as you know or find.

Organization 

Plan the general and specific objectives of the company in the short and long term.

 Organize the current and future company structure; as well as functions and positions.

 Direct the company, make decisions, supervise and be a leader within it.

 Control planned activities by comparing them with what has been done and detect deviations or differences.

 Coordinate meetings with the Sales Executive and the Secretary, increase the number and quality of clients, make purchases of materials, resolve about repairs or damages in the company.

 Decide on hiring, selecting, training, and locating the appropriate personnel for each position.

 Analyze the problems of the company in the financial, administrative, personal, accounting aspects, among others.

 Perform mathematical, algebraic and financial calculations.

 Deduce or conclude the analyzes carried out previously.

Provide a definition of organization. Be extensive.

An organization is an orderly structure where people with different roles, responsibilities or positions coexist and interact in order to achieve a particular objective. The organization usually has rules (formal or informal) that specify the position of each person in the structure and the tasks that they should carry out. Organizations can be as varied as the interests of the people who comprise them. As examples of widely known organizations we have: 

 Trade unions.

 Political parties.

 Companies.

 Humanitarian aid organizations.

Sport clubs.