N5 Entrepreneurship


4.4 Customers....................................................................................................................................................................... 65 4.5 Environment................................................................................................................................................................. 66 4.6 Community..................................................................................................................................................................... 67


Module 4 – Organising your business 1. Introduction ............................................................................................................................................................................. 72 2. Organisational structure................................................................................................................................................... 75 2.1 The bureaucratic organisational structure ................................................................................................ 75 2.2 Matrix organisational structure........................................................................................................................ 76 2.3 Flat organisational structure .............................................................................................................................. 76 2.4 Departmentation........................................................................................................................................................ 77


3. Delegation.................................................................................................................................................................................. 79 3.1 Power................................................................................................................................................................................. 80 3.2 Delegation process..................................................................................................................................................... 82 3.3 Creating a delegation environment................................................................................................................ 84


Module 5 – Staffing your business 1. Introduction ............................................................................................................................................................................. 88 2. Human resources planning ............................................................................................................................................ 88 2.1 Job analysis.................................................................................................................................................................... 89 2.2 Job description............................................................................................................................................................. 89 2.3 Job specifications........................................................................................................................................................ 90 2.4 Selecting the best qualified employee .......................................................................................................... 91


3. Training and development.............................................................................................................................................. 95 3.1 Development programme..................................................................................................................................... 95 3.2 Job knowledge.............................................................................................................................................................. 95 3.3 Performance appraisals ......................................................................................................................................... 96 3.4 Feedback to employees........................................................................................................................................... 97


4. Motivating the workforce ................................................................................................................................................ 98 5. Compensation........................................................................................................................................................................100 5.1 Compiling a salary package...............................................................................................................................100 5.2 Fringe benefits for employees..........................................................................................................................102


Module 6 – Labour relations 1. Introduction ...........................................................................................................................................................................108 2. Collective bargaining........................................................................................................................................................109 2.1 Centralised collective bargaining ..................................................................................................................109 2.2 Workplace forums...................................................................................................................................................109 2.3 Industrial action .......................................................................................................................................................110 2.4 Resolution of disputes ...........................................................................................................................................110 2.5 Legislation ....................................................................................................................................................................112 3. Grievance procedure ........................................................................................................................................................114


Module 7 – Control 1. Introduction ...........................................................................................................................................................................118 1.1 The nature of control.............................................................................................................................................118 1.2 Characteristics of effective control................................................................................................................119


2. Control process.....................................................................................................................................................................120 3. Control methods...................................................................................................................................................................121 3.1 Termination of employment .............................................................................................................................121 3.2 Budgeting......................................................................................................................................................................123 3.3 Ratio analysis..............................................................................................................................................................128 3.3.1 Profitability ratios.....................................................................................................................................129 3.3.2 Liquidity ratios ...........................................................................................................................................132


iv

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