Business Management, Ethics and Communication

Planning involves mapping out exactly how to achieve a particular goal. These necessary steps are developed into a plan. When the plan is in place, the manager can follow it to accomplish the goal of improving company sales. It has relation with Implementation and controls. Plans do not always proceed as conceived. Planning is looking ahead is true because it contributes heavily to success and gives us some control over the future. Thus, it is said that planning is looking ahead as it involves predicting the future.

Staffing is concerned with employing people for the various activities to be performed. The objective of staffing is to ensure that suitable people have been appointed for different positions.

Maslow, a psychologist, developed a theory of motivation based on human needs arranged in a particular order from the lower to the higher and it covers all the above mentioned needs.

Unity of command means that a subordinate should work under the supervision of one superior only from whom he gets instructions and to whom he is accountable. It avoids confusion in authority and instructions.

Frederick Winslow Taylor, is popularly known as the ‘father of scientific management’.

The word “management” has its origin in the Greek word ‘nomo’ which means ‘management’.

Performance appraisal means systematic evaluation of the personality and performance of each employee by his supervisor or some other person trained in the techniques of merit rating. It implies employing of various rating techniques for comparing individual employees in a work group in terms of their personal strengths and weaknesses with respect to the requirements of their respective jobs.

Controls are not an end in themselves. In order to accomplish objectives if it becomes necessary to revise the plans, the control system must have the attribute to adapt itself to new developments. Control must be flexible in the sense that it should respond favourably to the conditions.

Zero base budgeting is a new approach to budgeting, which was first introduced by Peter Pyhrr in 1970 in the United States.

Luther Gulick coined the word POSDCORB using the initial letters of management functions:
planning (P), organising (O), staffing (S), directing (D), coordinating (CO), reporting (R), and budgeting (B).

The economic environment around us consists of three basic entities – Households (the consumers), Firms (the producers) and Government (the co-coordinator).

Modern control system is worker-focused rather than work or job oriented.

The mission is a general enduring statement of the intent of business. It reflects the belief and philosophy of the management.

Planning and controlling are called the Siamese twins of management because they are closely linked to each other.

Management as an art is personalized in the sense that every manager has his own approach to problems and it is creative in the sense that it is the function of creating productive situations needed for further improvements.

The operative functions are those tasks or duties which are specifically entrusted to the personnel department under the general supervision of personnel manager. These are concerned with employment, development, compensation, integration and maintenance of personnel of the organization.

Business Ethics are relative norm as they are relative to culture, time period, current events, and current notions of what is ethical.

Business Ethics has universal application because business exists all over the world.

Operation researchers and analysts are of the opinion that if planning, decision-making, organizing, etc. conform to logical processes, then the same can easily and suitably be presented in mathematical symbols. The leaning of this school is heavily on expressing and interpreting the basic relationship of the problems in terms of determined goals. In a way, it is thus closely related to decision theory approach.

Ethical behaviour is defined as enterprises adhering to a non-corrupt work or business practice and Corruption is defined as private individuals or enterprises who misuse public resources for private power gains. They do so through abusing public officials whose behaviour deviates from the formal government rules of conduct.

Corporate social responsibility is an umbrella term under which the ethical rights and duties existing between companies and society are debated. It includes legal, discretionary, economics, and ethical social responsibility.

McGregor gave the assumptions, which he believed could lead to more effective management of people in the organization, under the rubric of Theory Y. The fundamental implication of Theory Y is that full advantage of the personal and professional potential of employees can be taken by motivating them to accept organisational objectives, more particularly when their physiological and safety needs are well satisfied.

The idea of business ethics caught the attention of academics, media and business firms by the end of the Cold War.

 Business Ethics is an art and science for maintaining harmonious relationship with the society, its various groups and institutions as well as reorganizing the moral responsibility for the rightness and wrongness of business conduct.It is universally accepted principle which ensures the good corporate governance. Every organisation has to adopt business ethics standards which are different from business to business according to their activities. 

The expression ‘to formally put an end to’ in business communication means 'to abolish'.

Business ethics of production deals with the duties of a company to ensure that products and production processes do not cause harm.

Natural crises or disasters are the ‘Acts of God’. They are environmental phenomena such as earthquakes, volcanic eruptions, tornadoes and hurricanes, floods, landslides, tsunamis, storms, and droughts that threaten life, property, and the environment.

A business may sustain only if it cares for society because a business can prosper on the basis of good ethical standards and it helps to retain the business for longer years. Business uses the resources of society, exploits them for earnings, and in turn it should help the society to grow and develop.

“It is difficult but not impossible to conduct strictly honest business”, the famous quote is given by Mahatma Gandhi.

Venette argues that "crisis is a process of transformation where the old system can no longer be maintained."

In job application letter, the person "sells” self to a potential employer that they would be an asset to the company. They point out their skills and how they would help the business, their interests that apply, and their future plans of study that would benefit the company. Therefore, a job application letter is said to be similar to sales letter.

 A web browser is a software application for retrieving, presenting, and traversing information resources on the World Wide Web. All the mentioned applications perform these functions for the benefit of the user.

The prefix ‘poly’ in the word ‘polygon’ denotes many.

The antonym of the word 'humble' in Business Communication is taken to be 'proud'.

A note sent from a business to a customer, informing the customer that money has been added to the customer's account is known as Credit note. Credit notes are typically used when products are returned for a refund or in other circumstances where the business must return money to the customer.

It becomes necessary at times to issue notice regarding legal changes. Sometimes, these notices are statutorily required and these are drafted for publication in newspapers/journals.

Telex is an international system of telegraphy with printed messages transmitted and received by teleprinters using the public telecommunications network.

The part of speech (or word class) that is used to name or identify a person, place, thing, quality, or action is known as Noun.

The comma separates or encloses subordinate clauses and phrases in sentences.

Emails began as an American experiment in computer communication technology during the Cold War and have become a fast growing method of communication in the world. It is difficult to think of a business house or an organization without an e-mail contact address.

Downward communication is the flow of information and messages from a higher level inside an organization to a lower one. Downward communication is frequently used to direct subordinates and transmit information relating to company objectives, policies and procedures. In the given example, the CEO of the company is addressing the Purchase Officer which makes it downward communication.  

A "congratulatory letter" is a message of felicitation to a friend, colleague or a business associate who may have earn a promotion, recognition, honour or an award. The achievement may be in the personal or professional arena.

Business ethics are needed to improve the customers’ confidence about the quality, quantity, price, etc. of the products. The customers have more trust and confidence in the businessmen who follow ethical rules. They feel that such businessmen will not cheat them.

The proverb “an aged lover” in Business Communications means "There is no fool like an old fool".

A friend who supports others only when it is easy and convenient to do so is a fair weather friend.

Strategic goals are business plans that identify and target internal goals, but provide only general guidance on how those plans can be attained. The purpose of a brainstorming session is to work as a group to define a problem, and find, through creative thinking, the best group decision for a plan of action to solve it. Therefore, by brain storming an organization is able to decide its strategic goal.

The idiom ‘To arrest someone’s notice’ means to catch somebody’s eye.

A sentence which has only one finite verb and one independent clause is called Simple sentence.

"To transform into a purer or idealized form" means to "sublimate".

In Business Communications, "emanating" means to flow out, issue, or proceed, as from a source or origin; come forth; originate.