Edexcel Business A Level Revision

Organisations often need to adapt to their culture for reasons including takeovers or mergers, growth and changes in the market. Difficulties with changing the culture include staff loyalty to exisiting relationships, the failure to accept the need for change, insecurity, loss of power, loss of skills, break-up of work groups and different individual views of how the change should be managed.  Furthermore, there can be an alienation of suppliers, customers and other stakeholders.

Partnership -  (Unincorporated) where two or more people share the costs, risks and responsibilities or being in a business together. The partners between them own all of the businesses assets and owe all business liabilities, therefore have unlimited liability. The legal partnership agreement sets out how the partnership is run, covering areas such as; How profits are to be shared What the partners have to invest into the business How decisions are taken What happens if the partner dies or wishes to leave You can also have "sleeping partners" who invest, BUT do not manage the business. ADVANTAGES Business benefits from the expertise and efforts of more than one owner. Partners can provide specialist skills Greater potential to raise finance - partners each provide investment Risks, costs and responsibilities shared Financial records remain private DISADVANTAGES Full personal liability - "unlimited liability" A poor decision by one partner dam...

Job empowerment - giving employees the power to do their job. The concept is closely linked to motivation and customer service. Put simply, employees need to feel that their actions count. Empowerment is a catch-all term that covers: Giving authority to make decisions to front-line staff (e.g. hotel receptionist, call centre assistant) Encouraging employee feedback Showing more trust in employees This is a stage beyond delegation, giving employees more control over their working situation. ADVANTAGES Increasing the Productivity and Morale. Those who are given the responsibility to create their own decisions can feel more trusted in which their contributions have a direct factor in the success of the company. This can actually offer them to boost their morale. Bigger Involvement Leading to Bigger Commitment. When employees are given greater involvement by increasing their responsibility, they are able to become more involved in the development of strategies for the organ...