Post for Week 3

This week really gave us a proper introduction to the Business and Management course at the ISC. This week we learnt that we will be studying two main modules this term which would be business law and business and management, but the entries in this blog would be focusing mainly on what we learn in business and management.

At the start of the week we were introduced to business and management with two main topics, which were 'What is an organisation?' and 'the functions of management'.
What is an organisation? A social unit of people that is structured and managed to meet a need or to pursue collective goals. Most organisations need an organisational  structure to be fully functional and to achieve their maximum potential. According to Charles Handy, organisational structure refers to the allocation of formal responsibilities, the linking mechanisms between the roles and the co-ordinating structures of the organisation.  Mintzberg also stated that the structure of an organisation is the sum total of ways in which it divides its labour into distinct tasks and then achieves co-ordination among them.

What are the functions of management? Firstly what is management, management is the activity of getting things done with the aid of people and other resources. According to Henry Fayol there are five principles of management, which are planning, organising, commanding, coordinating, and controlling. These are the five principles that need to be followed in order for an organisation to be managed properly.

I really learnt a lot in this weeks lectures, mainly that every organisation needs a good structure and should have good management in order to progress and achieve growth.