Accounting Mind Maps

A New mindmap for IGCSE Accounting has been uploaded on dineshbakshi.com. This mindmap is very helpful for students to understand the basic rules of accounting i.e. debit and credit. This mindmap can be downloaded from www.dineshbakshi.com Mind Map section in PDF format. Check out hundreds of other mind maps on Economics and Business Studies in the same section.

Centralisation and Decentralisation

Centralisation and Decentralisation
Centralisation implies the concentration of authority at the top level of the organisation while decentralisation means dispersal of authority throughout the organisation

According to Allen

Centralisation is systematic and consistent reservation of authority at central
points within an organisation. Decentralisation applies to the systematic
delegation of authority in an organisation context.

Advantages of Decentralisation
Decentralisation reduces the workload of top executives.
It improves job satisfaction and morale of lower level managers by satisfying their needs for independence, participation and status.
Decision making is quicker.
It facilitates growth and diversification. As each product division is given sufficient autonomy for innovation and creativity.
It gives opportunity to subordinates to exercise their own judgment. They develop managerial skills which will be useful to the organisation in the longer run.
Decentralisation requires wider span of control and fewer levels of organisation. It speeds up communication.
Decentralisation increases the administrative expenses and each division or department has to be sufficient in terms of physical facilities and trained personnel.
As each department or division enjoys substantial autonomy it might lead to co-ordination problems.
There might be lack of uniformity and inconsistent procedures as each department might have the authority to formulate its own policies and procedures.
Disadvantages of Decentralisation
Decentralisation increases the administrative expenses and each division or department has to be sufficient in terms of physical facilities and trained personnel.
As each department or division enjoys substantial autonomy it might lead to co-ordination problems.
There might be lack of uniformity and inconsistent procedures as each department might have the authority to formulate its own policies and procedures.

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How to design a questionnaire

The most common research instrument is the questionnaire. Poorly designed questionnaires do not uncover the information you are seeking. Pretest any question with a few people to see which questions are being misunderstood or are not effective in drawing out the type of response you are interested in.

Keep these tips in mind when designing your market research questionnaire.

• Keep it simple.
• Include instructions for answering all questions included on the survey.
• Begin the survey with general questions and move towards more specific questions.
• Keep each question brief.
• If the questionnaire is completed by the respondent and not by an interviewer or survey staff member, remember to design a questionnaire that is graphically pleasing and easy to read.

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Workers Participation Revision Notes

Worker participation

Worker participation refers to the influence that workers had on decision-making at management level. Representative workers of influence achieved this through their work on the various management-employee committees.

Advocate workers of influence used formal, individual meetings with management to influence their thinking. Informal workers of influence give input to management thinking in informal arenas such as articles in the newsletter and informal discussion where they exchange information with management.

Participation requires that management share information about the operation of the plant, the marketplace and the needs of customers and suppliers.

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Disney to buy Marvel Entertainment

Entertainment giant Walt Disney is to buy Marvel Entertainment in a shares and cash deal valued at $4bn (£2.5bn).
The boards of Disney and Marvel have both approved the deal, which now needs the backing of Marvel shareholders and competition authorities.

Read full article on this deal click here

Watch a video report Click here

Free Trade Zones

What is a free trade zone?

Free trade zones, describe an arrangement where different trading entities, usually member countries, agree to cut or scrap taxes in order to lower business costs and remove bureaucracy. They are also known as "special economic zones" and are mostly found in developing economies. The aim is to give a massive artificial boost to trade, especially between raw material producers and manufacturing based economies. These zones are also attractive to foreign investors as it's cheaper for them to do business there.

Read more about 'Free trade zones in Africa' in this BBC Article. Click here

Fiat workers protest at mergers

Fiat and Chrysler have completed the strategic alliance that will put Chrysler's good assets into a new firm.
Thousands of Fiat car workers in Italy have been staging a demonstration to demand job guarantees. The protesters are concerned that a possible merger with Opel would result in factory closures.

Fiat turns corner in poor economy

Italian carmaker Fiat is due to release its second-quarter results on Wednesday with some industry analysts predicting the company could return to profit.

Fiat has been pushing hard with a range of new models and government-backed incentive schemes to turn around its fortunes.

Strategic Management Revision notes

Strategic Management

Strategic or institutional management is the conduct of drafting, implementing and evaluating cross-functional decisions that will enable an organization to achieve its long-term objectives.It is the process of specifying the organization's mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources to implement the policies and plans, projects and programs.

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Business studies and Economics Mind maps

Mind map for A Level Business studies, Operation Management topic is available for download from dineshbakshi.com. This mind map clearly explains the concept of production and productivity.
Another mind map for IGCSE, GCSE Economics 'Spending, Saving and Consumption' is now available for download.

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