CHAPTER 1: BUSINESS ORGANIZATION & THEIR STAKEHOLDERS

BUSINESS ORGANIZATION
- Organization: social arrangement, collective goals, controls, boundary
- Why do organizations exist?: MORE PRODUCTIVE overcome people’s individual limitations
enable people to specialize
save time
accumulate & share knowledge
enable synergy
- Types
Orientation:
Profit (Commercial) organization: maximize profit
 Sole trader (hộ kinh doanh cá thể)
 Partnership (công ty hợp danh)
 Limited company (công ty TNHH): ownership (shareholders) & control (directors) are
legally separated
 Advantages: more money, reduce risk, separate legal personality, ownership is separated
from control, no restrictions on size, flexibility
 Disadvantages: legal compliance costs  have to be AUDITED, shareholders have little
practical power
Private limited companies Public limited companies
(công ty TNHH tư doanh) ( công ty TNHH đại chúng)
num of shareholder small wider
transferability of rarely without consent offer to the public
shares (trade on stock exchange)
directors as BGĐ có thể là người nắm giữ phần lớn BOM và BGĐ điều hành tách
shareholders cổ phần biệt, nắm giữ 1 phần nhỏ
sources of capital founder/ promoter raised from the public
business asociates ò the founder (cộng directly through institutional
sự kinh doanh)/ employer investors (nhà đầu tư tổ
venture capitalist (nhà đầu tư mạo chức) using recognized
hiểm) market
Non-profit organization
Ownership:
Private sector Public Non-governmental Co-operative societies
sector organization (NGO) and mutual
associations
Ownership individuals/ government cá nhân, tổ chức độc workers & customers
shareholders departments lập với chính phủ
Objectives profit/ non- đáp ứng nhu promoting social, share the profits (open
profit cầu côcngj political and membership,
organization đồng environment changes democratic control: 1
mem 1 vote)

STAKEHOLDERS
- Internal: employees, management (người lao động & ban quản lý)
- Connected: shareholders, customers, suppliers, financial provider
- External: government, interest/ pressure groups (nhóm lợi ích), professional bodies (các
hiệp hội nghề nghiệp)
 Level of interest (mối quan tâm)
Low High

High
Power C D
(tầm (keep satisfied) (acceptable)

ảnh
hưởng A B
) (minimal effort) (keep informed)
Low

CHAPTER 2: THE BUSINESS ENVIRONMENT

How to examine?
- General (or macro) environment: PESTEL
- Task (or micro) environment: PORTER’S 5 FORCES
The analysis tools
PESTEL
PORTER’S 5 COMPETITIVE FORCES
- Bargaining power of customers
- Bargaining power of suppliers
- Rivalry among existing competitors
- Threat of new entrants
- Thre of substitute products
VALUE CHAIN

CHAPTER 11: MANAGING & LEADING PEOPLE

MANAGEMENT: getting things done through other people
 - The importance: set objectives, monitor P&R, stewardship, corporate values,
stakeholders
- Via: accountability, delegation, authority (right), responsibility (duty), power (ability)
- Key roles: work planning, resource allocation, project management
Henry Fayol: classical management
- Planning: objectives
- Organizing: structure the task, delegate, sets of info
- Commanding: instruction
- Coordinating: harmonizing
- Controlling: measuring & correcting
Taylor: scientific management
- work study method
- micro-organized
- planning and doing
- paid incentive
Elton Mayo
Henry Mintzberg: managerial roles
- Interpersonal: figure head, leader, liaison
- Decisional: entrepreneur, disturbance handler, resource allocator, negotiator
- Informational: monitor, disseminator, spokesperson

SUPERVISION
- a front line manager
- gatekeeper: filter info (upward: report, downward: brief)
- interface: managerial & non-managerial worker
- technical/ operational work

LEADERSHIP
- Skills: entrepreneurship, interpersonal skills, decision-making & problem-solving, time-
management & personal organization, self-development
- Styles:
Trait theory: leaders are born not made
Style theory:
- The Ashridge model: tells (autocratic), sells (persuasive), consults, joins (democratic)
- Blank & Mouton managerial grid
Congtigency theory
- Fieldler: psychologically close & psychologically distant
- John Adair: action-centered

CHAPTER 16: TRAINING & DEVELOPMENT

THE LEARNING PROCESS
 - Behaviorist theory & Cognitive theory (Plan  Attempt  Results  New goals)
- Effective learning: motivations, objectives & standards, feedback, negative/ positive
reinforcement
- The learning style: Honey and Mumford
Theorists: understand basic principles
Reflectors: observe  think  act
Actitivists: try things, ‘hands on’
Pragmatics: deal with real tasks/ problems
- The learning cycle: Kolb
Having experience  Observing & reflecting  Forming abstract & generalization 
Applying to new situations

TRAINING & DEVELOPMENT

- Training: planned programmes
- Development: growth in workers’ ability
 increase competency  increase performance standards
- Education: knowledge that is gradually acquired
 Strategy: training needs  learning requirements  learning objectives  planning 
implementing  reflecting & evaluating

TRAINING NEEDS, OBJECTIVES, METHODS

- Training needs: the gap between what employees are expected to have and what they
actually have
- Training objectives
- Personal training programs: current position  set goals  action plan
- Training methods: off the job training, on the job training, induction training

EVALUATING TRAINING PROGRAMS

- Validation of training: observing results  measuring whether objectives have been
achieved or not
- Evaluation of training: comparing costs & benefits that organization gained (value)
 increase effectiveness + cost effectiveness
5-level evaluating model
- Trainees’ reactions to the programmes
- Trainees learning
- Changes in working behaviors following training
- Effect on organizational goals
- Ultimate values (social responsibility, corporate values…)