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Legal factors affecting business

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DEFINE IN DETAIL.  What is Organizational Law? This law is the one that determines how organizations should operate. It involves laws and regulations on taxation, employment, contract, securities, immigration, etc. All of the above depending on the way the business is legally formed. What does Employment Law refer to? This refers to the legal concerns that affect employees like wages, benefits, hours and work, contracts, etc. All of them approved by government and obligatory in every organization in the same way. Some of the main issues treated by these laws are discrimination, sexual harassment, wage and hour, and wrongful termination. How are Consumer laws defined? These laws ensure and protect consumers from brands that do not meet the requirements or benefits they claim to do. This involves tactics like fake publicity, hidden defects, identity theft or unauthorized charges and fraud. What is Securities Law? A security is an interest in something valuable that are bo...
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Introduction to Accounting

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  Accounting vocabulary practice 1.      Gross income is up on last year, but profits still fell because our cost have increased. (revenue) 2.      All client entertaining is done on the company’s expense account. 3.      Overall sales were down, but net income is up as we were able to cut production costs. 4.      The new line of credit has really helped our cash flow .   Introduction to Accounting Why do you think accounting is seen as boring? Explain -           I think it is because they must stick to very specific rules, so they do not have much time/space/opportunity to fool around so it seems to be a totally square job. I also think it can be caused by its relation to numbers and perfection which can be interpreted as something nerdy. Personally, I do not like accounting at all even if I know it is totally necessary to run any...
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Integrated Business Planning

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  What is “Integrated Business Planning” (IBP)? -          This is a program offered by SAP that facilitates the decision making to enterprises by providing them with real time information of all areas that every person with access can modify so it guaranties an accurate analysis of it to see the real status of the company. This information is segmented in areas, and it is also possible to automatize certain task like prioritizing, creating a forecast and monitoring, this functions like a bridge between strategy and execution.   What is “Sales and Operations Planning” (S&OP)? -          It is a tool part of integrated business planning that allows companies to align its goals from certain areas by exchanging information between them every X weeks depending on its needs. The process of S&OP starts with a sales forecast that leads to the need to have certain amount of stock, so it is ...
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Information technology & communication

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What is Managing information withing and outside the organization? What is the importance of it? -          The managing of information is a concept close to what we have already seen about communication since it is related to the exchange of knowledge either withing or outside the organization. The information transmitted inside the organization looks for a higher productivity through focusing every area on the same goals, so they all work together to reach them. The main way to exchange this information is by using email, cloud services, teleconferences and sometimes a few less popular now like faxes, USB or phone calls. -          To manage information outside the organization is about dealing with news media, manage corporate news and controlling public company crises, which means mainly to manage the organization public image. Time ago, this used to take place on television programs, news papers o...
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Quality management

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  Task 1 Quality Management What is Quality Management? -          For me, it is a process of control to make sure that every stage in production fulfill the quality standards needed to create a good perception of value, this goes from raw materials until the product arrives to the client or even further like post sale services. What is the objective of Quality Management? -          Since competition does not only involve prices anymore, its objective is to improve as much as possible to offer a better product. Which are the key components of Quality management? Describe in detail each one. These components can be either tangible or intangible Tangible -          Reliability: how much can the costumer trust the product will last. -          Functions and features: how many different needs can I cover with ...
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Resource Management

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  Task 1 Resource Management study guide questions. 1.What is Resource Management?   It refers to the process of using any resource the company has in the best possible way always looking for the most profitable result. These resources include assets, facilities, equipment, human resources, etc.   2.Mention what is the importance of Resource Management in business. Its importance is totally related to business profitability and sustainability. Its main characteristics are minimizing project resource cost by mixing all the available resources in order to get the right combination depending on the project., foreseeing the resource demand before it is needed so it is possible to compare the one we already have versus the one it is going to be required so shortages and excesses can be identified, using scarce resources more effectively and monitoring, and improving employee´s skills to motivate engagement and productivity.   3.What are the Concepts and Co...
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Human Resources

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  Task 1 Human Resources  Define Human resources . Human resources is used to describe both the people who work for a company or organization and the department responsible for managing all matters related to employees. Concerning the department, it is fair to say that its main focuses are Recruiting and staffing, Compensation and benefits, Training and learning, Labor and employee relations, and Organization development.  What is the role of human resources? Define in detail . Its more important role is talent management and labor and employee relations because of its importance to keep a company operating properly. Even though, it is a very complete department where many activities like the ones mentioned above take place. Some career titles needed to operate are Training development specialist, HR manager, Benefits specialist, Human resource generalist, Employment services manager, Compensation and job analysis specialist, Training and development manager, Recruite...
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