COMMERCE 4BE3 Lecture Notes - Lecture 7: Decision-Making, E-Commerce, Cash Flow
29 Oct 2017
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Document Summary
In a group 3 factors determine level of performance of the group: capabilities of individuals, motivation of the individuals, organizational structure the works work in. Why is organizational structure so important: sm functions in the management hierarchy either facilitate or limits the sm policies and actions affecting overall performance, where should sm fit in organizational structure. Influences the departments ability to function optimally and influence decision making process or effective procurement: the lower sm is placed in organization the less influence on corporate strategy. What factors determine the importance of sm: availability of materials and services, major inputs used by the firm that are readily available in competitive market or bought in volatile markets. If latter need creative and analytical sm professionals: absolute dollar volume of purchases, magnitude of expenditure means effective sm can produce significant profit by small unit savings.
