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...s or processes in organization ([[system]]) or object. It is determined in a given period of time and due to the adopted basis for comparison. The chang ...e a natural tendency to fall. In this case change is needed, understood as a struggle against entropy, and aimed at improving of company's position.

Therefore, many managers now returns to the [[need]] for a broader look at the issue of application of indicators to assess the [[ente Integrated measurement systems are a tool for extending the scope of [[strategic analysis]] beyond the narrowly

...at managers try to prepare and [[plan]] [[organization]]'s activities over a longer period of time. It includes reactions to any changes which may occur By using well-developed strategy a company can not only gain a [[competitive advantage]], but also it can become the market leader.

Shareholders making a contribution of the capital to the company can get it back only when the co Short-term (with a maturity up to 1 year):

...only it is surplus of sales over the general expenditure. It is considered a remuneration for companies engaging and putting at [[risk]] its resources t * Net profit - a margin from the sale after deduction of discounts, operating costs and taxe

...n [[company]], resources are presented in balance sheet of the company, at a particular point in time, e.g. 31 December. A resource can also be defined as the amount of one particular component of a

...conomic [[system]] there is uncertainty, it is therefore necessary to make a detailed analysis of the impact of potential decisions on the financial res ...rate in accordance with the guidelines drawn up centrally by the state. In a free [[market system]] planning ensures that managers make rational decisio

It is a measure of the scale of business activity and is used to determine the [[fi ...oices or sales receipts for a specific period of time. This can be done on a monthly, quarterly or [[Annual Basis|annual basis]].

...rganization]] in achieving its objectives. Idea of controlling is to build a logical [[system]], which through the orderly combination of different stru ===Controlling as a management subsystem===

...k, willing to work, actively seeking [[employment]]. Unemployed constitute a part of population in productive age. ...cal, frictional (passing) and structural. In the recent textbooks there is a division of voluntary and compulsory (forced) unemployment. Unemployment ca

...e (JIT)''' is a [[production]] [[system]] that increases [[efficiency]] of a [[company]] by reducing inventory and eliminating costly and wasteful eleme ...tury and was used by companies such as 7-SEVEN where Taichi Ohno worked as a corporate vice president (K. Ficon 2001, p. 211).

...mproper management of the company, work organization, [[motivation]]. Only a few percent of the errors caused by employees at the [[production]] line. I ...because only the long-term use of above mentioned principles can result in a [[competitive advantage]]. The success can be reflected not only in the act

...h supplies. Infantry that was also a big part of his army had a slave with a horse with supplies. ...f logistic activities was the use of standardized uniforms and weapons. As a result, it lowered the costs of equipping the army and reduced the problem

...s receiver. Every [[producer]], distributor or [[service]]-provider may be a supplier: it works as an [[employee]] of the [[company]] or an entity that ...upplier there is a [[risk]], in case of a breakdown, leave the [[market]], a walkout. The company is then heavily dependent on this one supplier. Howeve

A '''brand''' is a name, term, symbol, sign, pattern, or any combination thereof, combinations It may consist of a part of the verbal (name) and nonverbal (symbol, logo).

'''Customer''' is a party that receives or consumes products. Several definitions narrow the me # Never argue with a customer.

...son to behave in a specific, goal-directed manner. Actually we can call it a psychological mechanism that contains all of actions, instincts and wishes. ...and actions of colleagues and superiors, the climate of the organization, a system of penalties and rewards)

Controlling is sometimes defined as a new management function, but it combines elements of other crucial [[manage * Searching and recognition of a distinguished road for the future development.

'''Managerial controlling''' is a relatively new way of conducting the performance [[evaluation]] of individu * Controlling is a management function, whose essence is the measurement and correction of the

...ategic controlling''' is a process that involves monitoring and evaluating a company’s performance and progress towards its long-term goals. It is an ...tifying the purpose and goals of the organization and articulating them in a way that is easily understood and remembered by all employees.

* Treatment of staff as a vital business asset, * Treatment of workers as a source of [[competitiveness]] for the organization,

...prove [[efficiency]] and productivity within an organization. For example, a manufacturing company may use operational controlling to monitor [[producti Operational controlling involves a number of steps, including:

* '''[[Planning]] and budgeting''': to ensure that an organization has a clear financial [[plan]] in place and that resources are allocated effectiv Financial controlling is a broad field that encompasses many different tasks and responsibilities, wit

'''Controller''' is a [[management]] consultant, often treated as a business partner, dealing with expert interpretation of results and relatio ...}} — {{i5link|a=[[Management information system]]}} — {{i5link|a=[[Organization of administrative and office work]]}} }}

...f revenues and costs of sale gives the margins, through which existence of a company is secured. Criterion for separation of a revenue centres can be: geographic region, [[product]] or product group, [[

...necessary use of labor, expressed in terms of wages, being associated with a useful effect. ...ept is extremely important for modern companies by providing managers with a proper definition of profitability and good [[planning]] and budgeting [[sy

...the pyramid of indicators. It allows to assess the financial situation in a synthetic way. It combines the data from the balance sheet and [[profit]] a ...they are interested on [[profit]] from capital contributed by them. It is a measure of the [[efficiency]] of capital invested in the [[enterprise]]. Th

...lection of different files within specific restrictions. Database works as a very functional part of reality and serves to public, institutions, compani Updating Functions - a transaction is an updating function, modifying database and changing old [[

...ify the [[behaviour]] of the [[enterprise]] as a whole under the impact of a changing [[environment]]. ...rtunities and threats. This analysis is used to develop a strategy to gain a [[competitive advantage]] and to position the company to take advantage of

...environment and the [[organization]] and confronting these results. It is a procedure with roots in the art of war [[strategy]], while it is completely ...r overall goals and objectives, which can lead to improved performance and a more engaged [[workforce]].

...n also be used in other areas of managerial analysis and [[consulting]] as a technique for the situational diagnosis of the [[company]]'s internal and e ...ultants working in the Harvard Business School, and described in [Learned, A., Christensen, C., Andrews, RS and Guth, D. 1965].

...ions used by the [[enterprise]] with the same [[industry]], functional (as a comparison of selected companies in completely different industries, non-co ...f benchmarking methods to improve [[organization]], it is necessary to use a wide range of sources and methods of gathering [[information]]. List of sou

15 squares matrix was created by Ch.W. Hofer. It is a development of the [[ADL matrix|ADL]] and [[McKinsey matrix|McKinsey]] matr Below is a sample matrix constructed according to the principles set out by Hofer. In

...is based on the principle of 20-80 where about 20% of all the factors have a significant influence (80% of sample) the results of the company. ...ely analyze the business, you [[need]] to find specific factors, unique to a particular [[industry]]. In principle, it is assumed that the number of exp

...he BPR implementation. Reengineering aims to improve the [[efficiency]] in a short time through the rapid and radical redesign of main processes in the * Step 5 - Design of a new process

* A large share of the [[supplier]] in the creation of producers' [[profit]] in * A large impact of the [[supplier]] in making [[profit]] for the buyer,

'''ADL matrix''' is a portfolio analysis technique. It was created in the seventies at [[consulti ...ans that the product has a greater ability to generate a surplus if it has a stronger competitive position.

...long been used, hence some authors suggest that '''benchmarking''' is not a [[method]] that deserves special attention. Benchmarking is a systematic [[process]] of comparing own business with others, or comparing

...e used to develop strategies to improve the company's performance and gain a competitive edge in the [[market]]. [[Benchmarking]] is a [[method]] of diagnosis, design and improvement of the various areas of the

...rposes, goals and the ways and means to achieve them. Business [[plan]] as a set of documents and analysis is widely used in many organizations. It allo A business [[plan]] should be prepared by [[management]] or by a specialized analytical unit within [[organization]]. Managers can also use

'''Life Cycle Assessment''' (LCA) is a technique that is used to examine the [[environmental]] aspects and potenti ...ned the analysis of the [[efficiency]] of use of raw materials and energy, a pioneer in this respect was Coca-Cola [[company]].

* company should invest in products with a strong competitive position, and withdraw from those in which its competiti ...rsection of the two dimensions determine the point, which is the centre of a circle, meaning the company position (fig. 1.).

...observe the relationships that occur in groups and between them [A.Stabryła 2000, p. 158]. Creating a map managers should perform following steps:

...press the aspirations and goals of the managers, which may be expressed in a certain time horizon. The level of ambition of managers should be adequate Most commonly there occurs a few common goals: increase profitability, gain [[market]] share. Problem of

...methods allow you to provide various types of phenomena that can occur in a changing [[environment]], which will help prepare them. The strategic scenarios [[method]] is a tool used to help organizations anticipate and [[plan]] for potential futur

...ion]] - is one of the methods of testing the total development capacity of a [[company]]. It facilitates taking decisions in relation to the [[diversifi # Draw a coordinate [[system]] whose axles (+x, - x, +y, - y are respectively: IS, C

In its core business and in the [[company]]'s functional areas, managers use a variety of methods described in the literature and disseminated by scientif ...mic, methods of forecasting and [[evaluation]] of [[investment]] projects. A common characteristic of these methods is to manipulate the data that is re

...Indicators are selected due to the company's goal and they are grouped in a string of cause and effect, which should bring improved financial results. ...the company and should be subject to periodic verification. At least once a year managers should determine whether adopted [[strategy]] is right and ch

This is the problem a choice between continuing and discontinuing activity in specific sectors an ...als, and [[benchmark]] performance. Here are some of the benefits of using a productivity threshold:

* 5 points - average (in a good way) * It allows for a better understanding of the [[market structure]], the competitive forces an

After managers specify a basic human resources indicators, they should identify measures specific to * A good example of a learning and development goal is to ensure that all employees are proficien

'''Strategic [[planning]]''' is a formal [[strategic planning process]] focused on the long-term activities s * Provides a framework for the planning of the tactical and operational activities, and

...logy]], level of [[standardization]], possibility to use [[technology]] in a variety of production fields, or the versatility of the [[technology]], tim * to develop a forecast of anticipated technological changes in the [[industry]] and relat

...e used in [[management]] to model and test different potential outcomes of a decision or [[action]]. This can help managers to better understand the pot Simulation scenarios can be used in a variety of management applications, including:

...or, what are the [[opportunities and threats]] for business development in a particular sector, ...tors produce better or worse growth opportunities, what sectors allows for a synergistic effect, how to shape the future portfolio of operations to redu

...ms of capital outsourcing as a form of cooperation it can be considered as a spin-off solution. ...ween the parent company and the newly created business unit, which becomes a contractor.

...ced scorecard assumes representation of [[strategic goals]] in the form of a set of measurable objectives necessary for the execution of the mission of ...or strategic areas of the company. [[Balanced scorecard perspectives]] are a set of metrics in four different perspectives: financial, [[customer]], int

'''Strategic trajectory [[evaluation]]''' is a [[method]] used to evaluate the performance of an [[organization]] over tim The following are some of the key steps involved in a strategic trajectory evaluation:

In this perspective goal and measures are derived from a [[strategy]] focused on fulfilling the expectations of shareholders and cus ...the [[customer]] which determine its financial results. However, there is a general [[value chain model]], which companies can customize to suit own [[

...s of cooperation with the [[service]] provider, and they should start with a determination of the range of issues that will be included in the final con ...Outsourcing]]}} — {{i5link|a=[[Binding contract]]}} — {{i5link|a=[[Mercantile law]]}} }}

...the independent implementation of a particular type of processes and take a decision about the transfer of powers in this respect, to an independent se ...n realization of processes to the service provider causes the emergence of a completely new situation for the company. Some services and primary activit

...be made by managers. Ranking makes it easier for subsequent preparation of a list of reserve service providers when managers select the major provider o ...rking]]}} — {{i5link|a=[[Preparation of project]]}} — {{i5link|a=[[Best value]]}} }}

...rm of the relevant provisions in the agreement. Managers must also provide a detailed description of the proceedings during the finishing of the coopera ...loss for the company, such as the [[cost]] of finding and transitioning to a new [[supplier]], or the cost of completing unfinished [[work]].

...ract should be taken into account during the preparation of agreement with a specialized outsourcing [[service]] provider. This is due primarily to the ...requirements of the [[company]], using its resources (e.g., in the form of a lease), and [[knowledge]] of the operation of the existing partner.

...choice of [[service]] providers from entities whose skills on the basis of a [[Procurement procedures|preliminary assessment]] correspond to the greates ...to [[Service delivery architecture|Service Delivery Architecture]] (SDA). A significant role have also existing solutions used by provider (i.e. comput

...or [[quality]] assurance services (SLA) should be developed in the form of a separate document annexed to the agreement.

...al, legal and fiscal health in a multi-faceted way. Its purpose is to make a detailed assessment of the current situation of the company and to identify ...e '''M&A process''' because it aims at objectively and neutrally assessing a company. In the Anglo-Saxon [[system]], its priority is to analyze the fina

'''Outsourcing''' can be defined as delegating implementation of a specific process (giving ownership of the process) to the service provider ...usting decision-making powers to the implementation of outsourced tasks is a condition of outsourcing, which was also underlined in the definition propo

A fresh look from the outside can help companies in overcoming temporary obst ...e implementation of the marketing [[project]] is to give it outside, where a group of people, experts in their field focus on its implementation.

...ry distinguishing features of this type of outsourcing are associated with a [[company]] approach to objectives and benefits of [[outsourcing]]. Main as ...can help to reduce costs, increase efficiency, and improve the quality of a company’s technology services.

...ment]]. As the authors point out tactical [[outsourcing]] is often used as a tool for the restructuring of the company. Main objectives of tactical [[ou * additional funds obtained as a result of sale of resources used so far to carry out the outsourced service

...on and J.C. Linder. Such form of cooperation is used to achieve results in a short time, and enables incremental, sustainable and significant improvemen '''Table 1. A comparison of the main features of [[tactical outsourcing]] and transformat

There are a number of reasons for hiring subcontractors. They relate to the complexity * Create a [[project]] schedule

| Cooperation (often as a result of the spin off) based on the joint [[investment]] | Selection of a service provider who will use specialized resources and skills to improve t

...to this considerable attention. An example would be the characteristics of a [[outsourcing]] contract presented by Ch. Gay i J. Essinger [2002]. ...ract]]}} — {{i5link|a=[[Limitation of liability]]}} — {{i5link|a=[[Outsourcing]]}} }}

...area. From the point of view of the [[customer]], proposals are treated as a manifestation of the commitment on the part of service providers. It is imp A request for proposal typically contains the following [[information]]:

...e document in which reliable fulfillment does not require a decision about a large amount of time, does not generate costs and does not require coming u ...nd expectations as well as the requirements contained in the tender brief. A long-list of agencies is invited to this stage, which are requested to fill

...regards to media communications, it can apply to any framework that gives a help (for example [[Internet]] Service, Internet Protocol TV)<ref>Toy M. 20 ...influence for a lucid vision and results on [[E-Government|e-government]] A design for administration conveyance fills different [[needs]]<ref>Oecd 201

...o the output<ref>[1] A. Jędryczkowski, Algorytmy, Prezentacja, 2005</ref> (A. Jędryczkowski, 2005, p. 2) ...derstanding the problem, making assumptions, design of steps, constructing a flowchart or tree, programming, testing. Algorithms are part of larger fiel

...ns. Choosing appropriate criteria for the selection of [[options]] (making a decision) is one of the fundamental problems of decision theory. One of the The decision making process can be described as a process of transformation of information. Therefore, when considering the d

# allows to reach optimal solutions in the case of a decision repeated in slightly modified conditions. ...he decision-making context has been correctly recognized? If there was set a proper goal? If they have considered all variants? If in the light of the e

...ning two include '''strategic''' decisions and '''tactical ones''' (Aurum, A., 2005, p. 8). Operational decision-making refers to [[production process]] ...types have been differentiated based on the nature of the problem (Aurum, A., 2005, p. 4):

...arge amount of resources, and what is very important - are associated with a lot of [[risk]].<ref>Schroeder J., ''Badania marketingowe rynków zagranicz ...increase market share and/or reduce costs, while at the same time offering a greater [[range of products]] and services.

Tactical decisions are short-term, specific actions that a company takes to achieve its [[strategic goals]]. Some examples of tactical * [[Product]] Development: Deciding on the features and design of a new product, or how to improve an existing one.

...s a lot of uses. It can help in solving the decision problem, and creating a [[plan]]. Decision trees are useful in problems with many decision variants ...the subsets is further divided; at the end of the analysis each object is a separate class.

...ch in decision-making (assumes the least favorable situation during taking a decision). ...k]] involved. The criterion is based on the idea that it is better to make a decision that minimizes the [[maximum potential]] loss, rather than maximiz

...the expected loss associated with making worse than optimal decision, for a given state of nature. In the decision-making [[process]] such [[strategy]] ...of grief). Loss is defined as the difference between the greatest win, for a particular state of nature, and winning that corresponds to the predicted r

...an be divided into private (taken by individuals) and commercial (taken by a person or executive [[board]] in charge of [[enterprise]] policy) (F. Benha ...decisions taken by the manager is called "management [[economics]]". It is a branch of economics very poorly known in Poland and very developed in the U

...ions tend to self gratification, to choose the first [[option]] that meets a minimum [[standard]] of the expected sufficiency. * tend settle for a first acceptable solution,

...he decision maker will knowingly make a non-random choice of one act, from a set of possible variants of solutions to the problem (these variants, of co Each of these steps requires to meet specific [[information]] [[needs]], and a continuous flow of appropriate [[information]] is possible only with smooth

...maximum extent. If those resources can be described quantitatively we use a mathematical model. The disadvantage of linear programming is that not ever ...pply linear programming in the decision-making process, one should develop a mathematical model that will contain:

...to define AI are difficult. As difficult as defining intelligence of man - a rational being. Consequently, over several years, some sample definitions a ...arthy, author of the term "Artificial Intelligence", formulated in 1955 at a conference in Dartmouth, 1955</ref>

...ix (i.e. results) depending on what [[strategy]] players choose. There are a zero-sum games (when one person wins the second has to lose) and non-zero s Prisoner's dilemma is one of the most popular games, it presents a situation where two persons accused of common crime are heard separately, e

...eral conditions]]: certainty, [[risk]] and uncertainty. Manager, preparing a decision, must take into account: type of decision and specific conditions A condition under which taking a decision involves reasonable degree of certainty about its result, what are

...at actions should be taken. Decision table is a specific way of describing a set of related decision rules. * They provide a clear and concise way to represent decision rules and conditions.

Such a phenomenon can lead to a situation where such decision is taken, which is not in the [[interest]] of ...tion. Shortly after the start on the 28.01.1986 space shuttle exploded. As a result of groupthink 7 people of shuttle crew died.

It also causes or forces a lot of other great changes in the structure of the [[cost]] of production, ...ndividual companies, industries, sectors, and thus the national economy as a whole. Technical progress gives best results in terms of the free [[market]

...h analyze effects of specific types of activities in the company. However, a prerequisite for its calculations is to find the share of each activity in ...al costing]]}} &mdash; {{i5link|a=[[Capacity analysis]]}} &mdash; {{i5link|a=[[Value added statement]]}} }}

'''Structural productivity''' is a relation of final result of particular activity to the [[cost]] of performi The structural productivity index (SPI) is a measure of the productivity of an economy that takes into account the struc

...fective way to beat [[competition]]. quality and [[cost]] competition play a key role in determining the place of the company's products on the European ...pment of an appropriate quality strategy does require to take into account a number of factors:

...ons and told for reforms and political parties advocating the [[need]] for a revolution (Russia). ...s of Africa, Asia and Latin America. Socialism arose in these countries as a result of the anti-colonial struggle and not the class struggle.

...ocess''' is a sequence of activities. Organizational (business) process is a sequence of activities which convert inputs into outputs. Interpretation: ...the structural approach. These approaches are complementary, allowing for a more complete description of the organization.

...a universal idea which is characterized by intensity and incidence. It is a process which cannot be stopped. * opportunity to purchase a variety of goods

...s it helps organizations to improve their operational [[efficiency]], gain a competitive edge, and make better decisions. IT systems provide access to r * Allows for a significant reduction in [[employment]] in the manufacturing and administra

...itions in the implementation of the strategy:<ref>Mišankováa M., & Kočišováa K. (2013)</ref> ...at it is their own strategy rather than the strategy imposed on them. Such a feeling creates commitment so essential for making strategy successful.

'''Functional strategies''' in strategic [[management]] are usually a part of overall corporate [[strategy]] prepared for various functional area ...business units]] or sector of [[industry]] and at a functional level. Such a multi-level [[strategic management]] approach makes the concept of strategi

...egy]]''' are: achieving highest level of skills in the field and providing a [[competitive advantage]]. Specialization may have a different form and selecting the right one, depends on the [[competitive po

...planning]]}} &mdash; {{i5link|a=[[Mission and vision]]}} &mdash; {{i5link|a=[[Implementation of strategy]]}} }}

...tegy) is based on the acceptance of a small market share, often limited to a few market segments. Companies that use this strategy do not use intensive ...nt]], as well as with regard to promotion, allows the imitator to maintain a steady market share. Sometimes lower prices may encourage people to buy, an

...n helping the daily operative business, some companies, however, see it as a key factor of success and one of the basic elements of the [[strategy]]. Th ...e of [[information]] systems in enterprises, makes it difficult to imagine a successful company without functioning IT [[system]], and in particular wit

'''Strategy''' is a program of general activities aimed at exploiting the [[production]] potent * defines the mission of the organization (a specific reason for its existence, distinguishing it from others)

...f business. It deals with the activities undertaken by the organization as a whole, and seeks to define the role it plays and roles of particular busine ...o produce a specific type of [[product]] or [[service]] and treats them as a single unit.

Ansoff matrix is a tool to choose directions of intensive development of the [[company]]. Firs * better adaptation of a product to different market segments,

...many methodologies for defining and implementing management strategies is a program of global activity (PGA), whose most important elements will be dis ...ividual manager or by group of managers. After ranking managers can create a goal tree, in which they divide main goal on several specific purposes and

...ct phases of the [[production]], sale, distribution, or other processes in a single [[enterprise]]. [[Company]] uses internal and administrative transac ...rgaining power can reduce supply cost and make processes more efficient as a result of reducing unnecessary processes when dealing with customers or sup

...is possible that any significant [[action]] and decision is carried out in a manner strictly corresponding to the [[strategy]]. # Design of organization capable of successful implementation of a [[strategy]]

* '''Emotional Needs''': Humans need to feel a [[sense of belonging]], love, and acceptance.

...tency of data resulting from the records into conformity with the facts on a specific date, * '''systematic''' - it is repeated periodically or constantly in a continuous [[system]],

...: the first group includes the need for professional development, which is a source of personal development, and the second is: fair remuneration, super ...tion is the building blocks of the desired organizational behaviour, plays a large role in the organization and has the following functions:

[[Tourism]] plays a significant part in the economic life because is one of the fastest growing Tourism, being a social phenomenon, carries both positive and negative consequences for the

'''Strategic [[management]]''' is both a field of [[knowledge]] and specific practical activities. This includes gen * Includes a comprehensive range of business [[organization]] that is, all components ar

...trips although it becomes more and more popular phenomenon since 50's. As a subject of research urban tourism didn't exist before 80's and till 90's wa * selectivity - tourists usually use only a very small portion of all that city has to offer,

Macro [[environment]] has a significant effect on business entities’ activities, but most importantly * '''Political''' - first step of a PEST analysis is a study of political factors which could create plenty of [[Examples of oppor

...nt''' is a group of people (customers) who are reacting in the same way to a set of [[marketing]] activities. Marketer has to choose which segment is th ...ing variables to set a segment. Next step is about constructing profile of a potential [[customer]] in segments and sub-segments and at the end implemen

...ng to ''American Marketing Association'' is an organizational function and a set of processes for creating, communicating, and delivering value to custo ...ating, and delivering value to satisfy the [[needs]] of a target market at a [[profit]]. Marketing identifies unfulfilled [[needs]] and desires. It defi

'''Management''' is a multi-disciplinary area of study. It encompasses all of the activities aime ...learly indicates its utility, manipulative character in the sense of which a man uses his hands when performing various tasks. Managing involves all act

...effectiveness of [[quality management system]] in the [[company]]. Lack of a sufficient [[level of quality]] can cause very high, up to 30% losses in th ...ion of assessment costs and costs of defects. This led to the formation of a PAF model - Prevention, Assessment and Failures. The PAF model presented pr

==Organisation as a system== ...and to a whole, based on the fact that all parts acts to achieve goals of a whole,

...a certain value from which he must give up in exchange for the purchase of a good or service. For the seller, the price is the source of income. ...should cover all socially necessary [[production]] costs, should be set at a level that ensures full disposition of the [[consumer]] goods produced, pre

...d adapting them to meet [[needs]] of people. Work usually is performed for a payment. It can be consider in two ways: qualitative and quantitative. Also work is defined as a whole of actions and functions performed by specific [[employee]] or employ

...for various industries and providing all sorts of services resulting from a [[merger]] or acquisition, and aimed at achieving higher profitability, [[p ...s, and often completely different production profiles. The conglomerate is a way to [[monopoly]] production or provision of services, because under one

* '''Vertical''' cartel is a type of agreement about reselling in certain amount and setting resale pric * OPEC ([[Organization]] of the Petroleum Exporting Countries) - a cartel of the world's major oil-producing countries founded in 1960. It is

The '''ISO 9001''' is a [[standard]] describing [[quality management system]]. It was first issued ...ation for [[Standardization]], which publishes international standards. As a rule, all standards are voluntary, however enterprises implement them to ea

...[[Iso 9000|ISO 9000]] standards since 2000 amendment. These principles are a link between [[ISO 9001]] and [[Total Quality Management]]. Top [[managemen ...planned, implemented and should be rewarded<ref>Kotler Ph., [[Marketing]] A to Z, 2004, p. 124</ref>

'''Risk''' - is defined as a potential loss of value. It is also a possibility that an investor will gain or loss of [[money]] invested in unp ...[[investment]]. In the final result a high [[standard]] deviation implies a high [[level of risk]].

The '''standardization''' is a result of activities which are leading to obtain an optimum degree of the o ...ese standards are useful to mass [[production]] at lower [[cost]] and give a wider opportunity to improve commercial orders.

...ividend Yield''' is used to calculate expected return rate on dividends as a part of the market [[price]] of shares, usually dividend yield is about 1-3 * '''Dividend Pay-out Ratio''' is a financial indicator comparing [[company]]'s dividend payments to made [[pro

...activity, as opposed to the macroeconomics, which looks at the economy as a whole. The following are some of the main topics that are covered by microe ...consumption]]}} &mdash; {{i5link|a=[[STEEPLE analysis]]}} &mdash; {{i5link|a=[[Market mechanisms]]}} }}

...blems coming from people who were not directly connected to the field make a very good base for unconventional solutions. ...s previously reported. The condition of the effectiveness of the method is a good [[organization]] of creative thinking. It is recommended to create two

...venture''' is a settlement made by two parties usually between a local and a foreign [[company]], to combine their different strengths to compete more s ...is just a very close collaboration between two companies while working on a certain [[project]].

'''Planning''' is a [[process]] of setting aims and adequate actions in order to reach the aim. * Midterm (few months - one year) - a statement, what [[needs]] to be done to accomplish the long term plan

...organize many outlets in different areas. These facilities are operated by a third party for its own account and in his own [[interest]]. They use [[com ...a license to operate an individually owned business as if it were part of a chain of outlets or stores. The most popular franchises are: McDonald's, H&

* '''The culture of power''' - it's based on the individual leader (or a group of leaders), who has an impact on whole [[organization]]. Decisions a ...re is designed to meet the [[needs]] of the [[employee]]. They are usually a group of lawyers, accountants, architects - skliied professions.

...le as they were in a [[market]] with perfect [[competition]]. Oligopoly is a [[market]] structure in which: * a small number of firms compete

...of [[interest]] to learn about a region’s past. A good example of this is a visit to the Great Wall of China, which is one of the oldest and largest hi ...experience the flavors of a particular region. A great example of this is a visit to the Napa Valley in California which is renowned for its wines and

...meetings, conferences, trade shows, and other events. Business tourism is a significant contributor to the global economy, and is often organized by tr ...ays business tourism is one of the fastest growing form of tourism and has a significant role on global [[market]].

# Money as '''a medium of exchange''' - primary function of money recognizing medium of exc # Money as '''a measure of value''' - a measure of value is a single [[standard]] or "''yardstick''" used to assign values to and compare

...''' in a very simple meaning is a person who buys things or uses services. A consumer is the final user of products or services. The consumer's use is f ...the person who has the stuff to use, consume or use is not treating it as a good fit to continue trading and good having to serve him or her economy.

...f them are made to witness the development of sciences and [[technology]]. A museum is an institution where compilations of pieces of art and collection ...ditionally, the visitors were supervised when admiring exhibits. Museum as a public institution was established in 1753 with the opening of the British

The demand creates a collection of goods and services, which are consumed at specified prices. The demand curve is a graph illustrating negative relationship between the [[price]] of the good

'''[[Motivation]] [[system]]''' is a term that describes one of the [[management]] instruments. It consists of p ...ocesses of undertaking decisions, [[planning]] and [[controlling]] (Stabryła 1996).

Internet is a global, worldwide computer network, often proclaimed as "network of the net ...he existing definitions is 100% correct and can be referred to Internet as a whole. Currently the Internet works under an agreement of variety of compan

'''Human Capital''' is accumulated by a person stock of [[employee]]'s skills, [[knowledge]], attributes, abilities ..., books, courses. The second one is opportunity cost that is earnings that a person could get in time spend for education.

The concept of '''market''' has been known since the beginning of a transformation from subsistence economy to goods economy. Gradually the exc ...nowadays, when "the world moved forward ", transactions can take place at a distance, via letter, telephone, telegraph, or computer [[system]] without

Holding is a formal institution, i.e. that the holding company and the subsidiaries are ...ving, by one of the companies (often referred to as "parent" or "mother"), a substantial part of the assets of another company or companies (hereinafter

...iew of the object. Auctions are organized as public tender. The seller has a chance to get the best [[price]]. Auctions take place when there are many p ...d actions. There are also emergency auctions, which are held when there is a [[need]]. This kind of auctions can be organized by the producers, other tr

...ey do not wear out during their usage and their exploitation does not pose a threat of their lack for the future generations. Another definition states, Renewable resources started to be of a major focus in the 90’ies due to new international commitments, establish

Frequently a '''service''' has been described as an act, a progress and a performance. More widely definition can described it as economic activities * Service as core [[product]] - the profitable outputs of a service [[organization]].

...result of individual development of the [[employee]], or the next step on a [[career]] path. Purpose of position changes can be: the acquisition of new * external - release, resignation, transfer to a separate [[organization]] ([[outsourcing]])

[[Image:Shewhart.gif|right|frame|Walter A. Shewhart]] ...ievement was inventing the [[control chart]], which was ''a formulation of a scientific basis for securing economic control''.

...Award, European Quality Award). Prestigious Deming's award is regarded as a symbol of the Japanese concern for [[quality]]. * a [[method]] of collecting and providing organisational units with [[informat

...l [[information]] about the [[product]] and services. Experts believe that a modern call center should use the CRM [[system]]. The main procedures for t ...eceiving a message and passing it on, caller's problem recognition, ending a conversation,

...or a [[company]] to finance expenditure or [[investment]], redeemed after a fixed period. ...ing bonds (usually underwritten by an investment bank) than to borrow from a commercial bank.

...[customer|internal customer]] concept it treats each next [[workplace]] as a customer of earlier one. In that approach more overproduction is revealed. ...to the demand. This can lead to high [[inventory costs]], lost sales, and a decrease in profits.

...ion that takes place when a message is sent. It is a [[process]] of making a connection between units, groups or institutions. Its aim is to exchange th ...fective communication]] is possible only when the message is understood by a receiver.

..., which is named as "taxpayer", by a state or the functional equivalent of a state such that failure to pay is punishable by law. ...ender, public [[work]]s, social engineering and [[government]] activities. A part of taxes are also used to pay off the state’s debt, as well as the [

...ntity to another on the way of payment exchange. It can also be defined as a form of [[risk]] [[management]] used to [[Hedge fund|hedge]] against the [[ A [[company]] selling the insurance is called as an insurance carrier, or an

...[market]]-driven factors) in its [[development strategy]] has a chance for a successful entering the [[market]]. The situation in which an enterprise tr ...eness. He was trying to establish conditions in which an enterprise can be a successful [[competitor]] and how to empower its influence on the [[market]

...ategy]]''' is one of the business development [[options]]. Managers choose a new [[market]] in which the [[company]] wishes to go with the new [[product ...factured by the company. Results of actions can be measured by relation of a prior [[business results]] to planned goals. In addition to vertical divers

Criteria for the [[evaluation]] of the [[marketing strategy]] is a set of factors, parameters, characteristics, properties on the basis of whi ...is not looking for the [[product]] as such, but a product that can provide a solution to the problem." The most important role of strategic marketing is

This [[strategy]] involves the fixing of prices at a low level to destroy the [[competition]]. Prices are usually below the leve ...pany]]. Only after the elimination of competition, prices can be raised to a level ensuring the [[profit]].

...life cycle|product life cycle]] it is constantly perceived by customers as a [[product]] of high [[quality]] and luxury. The high [[price]] is an import ...of caused the drop in their sales. In such cases, the increase in sales as a result of lower prices do not usually balances loss of sales in [[client]]

'''Differentiation strategy''' is a collection of cognitive and emotional features, different people with diffe ...rs. The company strives to be unique (or convince buyers of uniqueness) in a given [[industry]]. It meets the [[needs]] of the recipients, those who pre

...already on the [[market]], or which is to be expected in the future. Such a [[strategy]] is particularly reasonable if the existing [[system]] does not ...eduction: By diversifying into different products, markets, or industries, a company can reduce its overall risk as the performance of one area can offs

'''[[Marketing strategy]]''' is a set of medium-and long-term policies, which create [[market]]-based operati ...is level is formulating the impact on buyers. Main techniques of impact is a combination of two instruments: [[quality]] and [[price]].

...'' is a pricing strategy that is used to prevent competitors from entering a market or to discourage existing competitors from expanding their market sh * Price leadership: Setting prices high in order to establish a market leader position and to discourage new competitors from entering the

Horizontal [[diversification]] involves the extension of a [[production]] of products or [[service]] above and beyond the [[industry]] ...fication Strategy|diversification strategy]] allows the company to achieve a number of advantages, among which following can be distinguished:

.... It requires the effort associated with the [[process]] of manufacture of a new [[product]] ([[planning]], purchase of [[technology]], acquisition of m ...e side activities of the company. It is also linked to the introduction of a new product (s) not related to the current range of [[market]] and existing

...s [[strategy]] [[price]] are set at a very low level in order to establish a massive [[market]] share, sometimes at the expense of other competitors. ...ith a high [[price]] elasticity of [[demand]], so that low prices leads to a substantial increase in sales volume. This [[strategy]] is used by many cou

This phase is followed by a decline in sales growth, which is associated with the saturation on the [[m The [[product]] maturity phase is a stage in the [[product life cycle]] where sales growth begins to slow down

...ion]], distribution and sale activities. They also use seasonal sales with a significant decrease in prices. There are several strategies that companies can use to extend the life of a product in the decline phase:

...earch and development definition|research and development]] and to promote a new product. In this phase, the [[risk]] of failure is very high, due to th ...ket can be a risky venture, as there are several potential challenges that a [[company]] may face. Some of the main risks include:

...product will is welcomed by the customers. This phase is characterized by a high capital expenditure, although relatively smaller than in the developme To increase product sales during the growth phase, companies can employ a variety of strategies such as:

...have clearly defined [[needs]] and are ready to pay a higher [[price]] for a specific [[product]] ([[service]]) or its [[quality]] to satisfy them. ...herefore, the company is focused either on the geographic [[market]] or on a specific group of buyers (usually not too large) and at the same time at th

...increase in the sales volume after [[price]] drop. A high sales volume and a large [[market]] share leads to lower costs. The use of [[economies of scal ...nd distribution capacity, which are used to satisfy high [[demand]] caused a successful implementation of this [[strategy]].

...deciding how these objectives will be achieved and established and setting a detailed timetable and costs of the resources necessary for the implementat ...ess should start with some idea about what managers want to achieve within a specified time in the category of sales, [[market]] share, profitability, c

...ectives]] adopted by the [[company]]. A special role in this process plays a function of [[organizing]] and directing people. It involves preparing comp ...[[marketing]] resources of the company. Selection of the [[strategy]] has a significant impact on the subsequent functioning of the company, because it

...company]] has to deal with other economic, social [[environment]] and with a different infrastructure. * opening a branch abroad,

...''' or '''multinational strategy''' - for each country [[company]] applies a separate [[marketing strategy]] adapted to specific [[needs]] and preferenc ...e pricing policy at home and abroad. In this case, the company carries out a '''global [[pricing strategy]]''', when the processes of [[internationaliza

...ositioning in the [[market]] involves selection of consumers, to establish a [[market]] area that is the target to which it is addressed, as well as the ...decisions on issues related to prices on a given [[market]], organized in a logical whole, within which the [[management]] takes into account the decis

...cts or most wanted versions of all available products. These products have a relative [[competitive advantage]], because the [[demand]], at least in the ...raise them. By applying the strategies companies can bring down prices in a situation of [[competition]]. [[Strategy]] of cream collection is also very

...he volume of sales and [[market]] coverage, and at the same time achieving a certain amount of [[profit]] in the short or long time. They can be general ...s seek to cut costs, as well as use of low [[profit]] margins, by offering a wide [[range of products]] to consumers who prefer lower prices. Through th

...sists of buyers with essentially similar [[needs]] and sellers who provide a variety of ways to meet them. ...r requirements as needed. [[Market]] is a relatively homogeneous whole. As a result, the enterprises applying this type of [[strategy]], offer their con

'''[[Cost]] leadership strategy''' involves achieving a cost advantage relative to competitors and attract clients by lower prices ...mpany will make a [[profit]] even if the competitors lost profitability as a result of [[competition]],

...gement]] of [[innovation]] in products and services. They provide not only a maximum of benefits but also minimizing costs and risks. [[Product]] [[stra ...osition]] of [[company]], and that will enable survival and development in a changing [[environment]].

...egic management]] in the company, managers have to identify basic areas of a [[strategic management]]. Based on this, managers acquire [[knowledge]] of * activities involving adding new business units to a portfolio of activities,

This system is called a strategic [[information]] system - SIS. Its task is the acquisition, proces ...rmation resources]] and means of obtaining them, while in others it can be a very extensive, integrated, independent, computerized [[database]] system.

* Personal qualifications, which must be possessed by a tourist, ...distinguish cycling on-road and off-road. This kind of tourism may include a high-performance touring as well and competitive forms of activities. In te

...and mission) through its [[strategy]], ending with operational planning (L.A. Toledo, 2011, pp. 172-186). It is important to closely integrate the var ...beneficial means, objectives, tasks and means (D.F. Neis, M.F. Pereira, E.A. Maccar, 2017, pp.24-26).

...o-day activities and transactions, SISs are intended to give organizations a competitive edge by providing them with the information and tools they [[ne ...s of trends - of primary key measures of business efficiency, allowing for a better understanding of the changes taking place in time and in relation to

...e]] includes patterns of conduct, [[behavior]] and responses of workers in a variety of situations. ...terprise]] and allows appropriate [[identification]] with it, resulting in a growing level of [[employee]] [[motivation]]. Creating and cultivating the

...rect. [[Personnel strategy|Strategic human resources management]] model is a set of rules and activities needed to provide best employees when they are ...ployees. All listed features of Michigan model are interconnected and form a [[process]] (cycle of human resources). In addition, these functions at the

...in the [[enterprise]]. Well developed personal [[strategy]] should include a [[plan]] for matching existing potential of employees to the achievement of * '''adaptation''' - introducing of a new [[employee]] to a company, making him acquainted with the company, department, team and scope

...nd [[customer relationship management]] (CRM) systems. ERP systems provide a centralized platform for managing various business processes such as financ ...chain model]]}} &mdash; {{i5link|a=[[Logistic center]]}} &mdash; {{i5link|a=[[Computer information systems]]}} }}

...el developed by M.E. Porter presents in a simplified way [[enterprise]] as a sequence of activities (processes), arranged in the sequence of phases from This model allows in a simplified way to present the successive phases of the [[company]] activity

...by Michael Porter presents a business as a string of related activities in a logical whole, taken at the time of manufacture of the [[product]] manufact In [[service]] company a string of activities will reflect how to perform a certain [[service]] for customers.

...e validity of statements, and can also be used to express complex ideas in a clear and unambiguous way. '''Formalization in [[management]]''' refers to the process of creating a set of rules, procedures, and guidelines that dictate how tasks should be p

* the rationale underlying the development and implementation of a document ** in force by a specific time

...nisms for the creation of the [[organizational structure]], which involves a logical, efficient and effective linking of tasks and employees. Otherwise In practice, these types of departmentalization often co-exist within a single organizational structure, as well as appear in the forms of merging

...o achieve objectives, and not only from the formal scheduling of tasks and a cool assessment of the results. The theory clearly specifies which tasks sh ...lack of time to control and giving instructions to an employee might be by a serious barrier.

...nalysis of [[market]] issues and sales, development of the [[product]] and a sound [[investment]] policy. Executives control such units through assessme Decentralization allows for better adaptation to local [[needs]] in a changing [[market]] [[environment]]. Effective use requires that the follow

...ly centralized or decentralized. You can only say that the [[company]] has a relatively centralized functions, others relatively decentralized. In theor ...nd any decision made by the generals is binding. This structure allows for a clear chain of command and makes it easier for the military to achieve its

A characteristic feature of the bureaucracy is to replace the authority of tr It is a specific type of [[organization]]. An extensive definition of the bureaucra

'''Anglo-Saxon model of [[corporate governance]]''' is a [[system]] of supervision and control over the corporation, functioning in ...om [[investment]] banks. Investment banks are rarely used, for example, in a situation where there is planned takeover ([[BIMBO|MBO]] and LBO transactio

...uctures, where power and decision-making are centralized and controlled by a small group of people at the top of the organization. ...y through a small degree of [[formalization]] of structures. Works best in a dynamic [[environment]], in small organizations. Concept of adhocracy was d

Goals or [[objectives of the organization]] usually mean a particular state, situational or [[behaviour]] requirements for anticipated ...on undertaken to achieve previously set goal, also function is regarded as a structural property of [[organizational system]]. Functions are all activit

Homeostatic balance between a [[company]] and its surroundings is the main condition for surviving. That ...y implies that the company, like any biological organism, seeks to achieve a state of dynamic balance (i.e. homeostasis). This state company achieve by

...e most senior manager responsible for the [[organization]]'s operations as a whole; on subsequent levels are the lower degrees of [[management]]. ...s who commands who in [[organization]]. That kind of [[bonds]] are part of a broader concept, namely the organizational links, i.e. dependency relations

...an: leader or guide. Today the term is used when an entity or person holds a dominant advantage over others. This entity is called then '''hegemony'''. However a very important issue for the hegemony is military advantage. Hegemony takes

...he basis of the similarity of the acts performed by them as well as around a common subject of the [[work]]. In addition to above mentioned two basic cr ...supervision and allows for [[economies of scale]] in the implementation of a function. Weaknesses of grouping by functions can be: slower and bureaucrat

A boundaryless enterprise offers a variety of advantages for the organization. These include: * A greater [[sense of ownership]] among employees, as they all feel responsibl

You should also pay attention to a different approaches to the boundaries of the enterprise: ...ies of the organization take place. For example, a retail store would have a physical boundary that is limited to the area within the building, parking

Virtual [[organization]] is created on a voluntary basis. It is based on mutual trust between organizations that eng ...son for the cooperation (or dissolution) is the desire to use a particular a chance,

...objectives. It has no legal personality, property or personnel employed by a single entity. ...dinate deal with particular [[customer]]. When it comes to the duration of a virtual organization, this can not be strictly defined. Organization will e

...s to a group of intermediate organizational structures. This is in essence a hierarchical structure with some organic structure characteristic: greater ...Du Pont (in years 20th of the 20th century) and next at General Motors by A.P.Sloan (he has made [[decentralization]] of the structure through the segm

...flow of customers. It is used for example in offices, in which to receive a specific [[service]] you [[need]] to go through several departments. ...customers. To better track their needs and be able to respond to changes, a lot of emphasis is put to the specialization based on customers.

...ncies between functional units in organization, which may be, for example, a single workstation or group of posts separated due to their functions. Put ...unity of the management. Characterized by [[centralization]] of power and a clear chain of command. Teams of people are built around tasks, rather than

...Some authors concluded, however, that situational variable in this case is a management level. They argued that as head of the [[organization]], is prom ...ctively control. Typically, potential span of control varies from a few to a dozen people (average being 7 people),

...employee]] does not have to every time ask for acceptance of the owner, so a business owner can devote his time to make other more important decisions. ...ance of responsibilities, powers and responsibilities", which says that if a position in the organization has to do some task, we [[need]] to also grant

...composed of not only independent, external members (external advisor), but a person directly involved in the [[management]] of the [[company]], for exam ...nisation]]}} &mdash; {{i5link|a=[[Powers of directors]]}} &mdash; {{i5link|a=[[Management rights]]}} }}

...inuously look for new opportunities to achieve the desired effects, create a new patterns of thinking, develop [[teamwork]], constantly learn. P. Senge ...of the [[innovation]] [[strategy]] in the [[enterprise]]. Innovations are a consequence of changes in the [[environment]] and the development of the [[

'''Corporate governance''' - a way of ownership control, in relations between shareholders, their formal r The concept of governance has a wider meaning and its scope includes formal and informal structure of the i

Continental [[corporate governance]] model (internal, Japanese) is a [[system]] of supervision and control over the corporation common in contin ...actively involved in the exercise of control over the actions of managers. A characteristic feature of this system for certain countries (e.g. for Germa

...n problems that occur in one-dimensional structures, managers can also use a combination of structures to benefits of each type of activity. ..., it is flexible and innovative solution, which creates the conditions for a comprehensive solving of complex problems.

...nits are subject to modification, there are also replaced by other, but in a way that does not lead to violation of the stability of the entire [[system ...a given society rang system makes some big groups of people referred to as a class or social stratum they stand against each other higher or lower.

...anizational solutions and bring new ways of managing. Today there has been a move away from the organizational solution characteristic in the industrial ...holders]] from both inside and outside the organization, they in turn, are a source of additional benefits.

...the [[hierarchy]] and division of labor. Such solutions have appeared for a long time, although they were mostly informal. Indeed, it is hard to imagin ...keep it, if the organization is growing fast. In such case, it develops to a linear structure or other structural solution. This evolution involves the

...ucture''' consists of a [[project team]] appointed to carry out tasks with a unique, comprehensive and innovative character. It is created for both shor ...nsibilities between [[company]]'s native [[organizational structure]], and a temporary project structure. To solve this problem, managers should choose

...ationships among the different [[levels of the organization]] and provides a framework for how [[work]] is divided and coordinated. ...department, and a human resources department. Each department is headed by a manager who reports to the CEO or another top executive. This structure is

...ructure''' was introduced in the 1960s in aerospace [[industry]]. NASA has a pioneering role in the use of this structure. The matrix structure is mostl ...ix structure grouping is based on object and functional criteria, there is a double subordination of employees, possible conflicts of competence are add

...anagement]] may decide, however, that a better solution would be to create a general staff of experts helping head manager (CEO), and not individual exp * '''Organizational Chart''': This is a visual representation of the staff structure which outlines the positions,

'''Linear structure''' is a type of [[organizational structure]] where: every employee has only one sup ...cess. This type of structure tends to be more rigid and bureaucratic, with a clear set of rules and procedures to follow.

...by [https://en.wikipedia.org/wiki/Frederick_Winslow_Taylor F.W. Taylor] as a way to solve the problems of [[linear structure]]. Another way was the [[li ...he excess tasks of linear managers could be solved by the establishment of a number of officers with different specializations. In this way, each manage

The first rule of development is unity of [[management]]. It says that a subordinate should receive the commands and orders from one superior. Critics, however, believe that such a strict vertical hierarchical subordination is not conducive to the effectiv

The Board is the executive body of a public limited liability [[company]], LLC, cooperatives, foundations and ot Commonly it is a small group of people appointed by the Board of Directors or the General me

...and resources and dependencies within [[organization]]. This structure is a network of positions and formal patterns of conduct, created to smooth oper ...is based on the traditional pyramid structure where each [[employee]] has a supervisor above them and is expected to report to them. Each position has

* In a manufacturing setting, the functional dependence could be between the engin * In a [[customer]] [[service]] environment, the functional dependence could be be

...onsciousness, [[attitude]] toward others and the whole universe. It may be a reflection of living conditions of the population, as well as the character ...s rely on each other for emotional and financial support, and they provide a sense of belonging and security.

...] [[evaluation]]. Job description is also the basis for the development of a range of activities for the [[employee]]. Depending on [[needs]], manager c Properly prepared job description gives a number of benefits to both workers and management:

...dividual professional qualities, for which the [[company]] will pay off to a specific [[employee]]. ...fy and describe the skills, knowledge, and abilities that are required for a particular job or role. They are often used in recruitment and selection, a