Name - Htet Sandi Lwin

Email - htetsan528.hs@gmail.com

Ph No- 09769034027

Term - 7

Module Name - Business Management Essentials

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Assignment 1
You are a consultant to an entrepreneur who
wants to set up a garment factory in Myanmar
and he has no experience to set up a business.
As a consultant, you are requested to explain
understanding business concepts from him.
In your explanation the following points have
to include:
(a) Different types of business organization
(b) Different organization structure
(c) Different sources available according to
different types of business organization
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(a) Different Types of Business Organizations
Sole Proprietorship
A business owned and
operated by one
individual who has
unlimited liability for the
company's debts.
Advantages : Freedom in
decision making, Easy to
build, Simple taxation
Disadvantages :
Unlimited Liability, Lack
of potential growth
Partnership
A business owned and
operated by two or more
individuals who share the
profits, losses, and
responsibilities of the
company.
Advantages : More
investment capital, Diverse
skills and capabilities
Disadvantages : Unlimited
Liability, Share profits,
Limited Company Life
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(a) Different Types of Business Organizations
Corporation
A legal entity separate
from its owners,
providing limited liability
to shareholders and
allowing for easy transfer
of ownership.
Advantages : Limited
liability, easier access to
capital, perpetual
existence
Disadvantages : Taxed
twice, Expensive
Limited Liability Company
(Private, Corporation)
A hybrid form of business
organization that offers
limited liability to its
owners while allowing for
flexibility in management
and taxation.
Advantages : Fixable
management, Limited
liability
Disadvantages : Varies
upon sub company type
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 As a consultant, I recommend a sole
proprietorship for this entrepreneur. A sole
proprietorship is the simplest and most
common form of business organization. It is
easy to set up and manage, and the owner
has complete control over the business.
Additionally, the owner is not required to pay
separate business taxes, and the profits and
losses of the business are reported on the
owner's personal tax return.

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(b) Different Organizational Structure

Functional
An organizational structure where
employees are grouped based on their
specialized tasks or functions.
Advantages: Expert employees in
particular area, More productive work
Disadvantages: Too focused on own
department
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(b) Different Organizational Structure
Divisional
An organizational structure where
departments or units are organized
based on the products, services, or
geographic areas they serve.
Advantages: Customer Satisfaction,
Focused area
Disadvantages: Loss of control,
Duplication of work
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(b) Different Organizational Structure

Matrix
An organizational structure that
combines functional and divisional
structures, providing dual lines of
authority.
Advantages: Better customer relations
Disadvantages: Low staff utilization

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 When choosing an organizational structure
for a garment factory, it is important to
consider factors such as the company's goals,
culture, and size. A functional organizational
structure can be a good choice for a beginner
entrepreneur as this can provide clear career
paths and development opportunities for
employees, as well as efficient
decision-making and resource utilization. Also
increase productivity with minimize cost of
production is also useful in this organizational
structure.
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(c) Different sources available according to different types of
business organization

Sole Proprietorship Partnership

Owner's personal savings, Contributions from each
loans from family and friends, partner, loans from banks or
personal credit cards. financial institutions.

Corporation Limited Liability Company

Issuing stocks and bonds, loans Investments from owners,
from banks or investors, loans from banks or lenders,
reinvested profits. contributions from members.
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 Understanding the different types of business organization,
organization structures, and financial sources is vital for
entrepreneurs starting a new venture. The right choices can help
set a solid foundation for success.
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Assignment 2
Suppose you are as a newly appointed Business
Development Manager of TG trading company.
Recently, you need to manage to increase
online customers' satisfaction because of
receiving complaints from online customers.
Which stages should include in planning
control feedback cycle? Explain each stage
briefly for increase online customer
satisfaction.

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Planning Control Feedback Cycle

● Stage 1 - Set mission

● Stage 2 - Identify objective (SMART Principle)
● Stage 3 - Search for possible course of action
● Stage 4 - Gathering data about alternatives and measuring
pay-offs
● Stage 5 - Select course of action
● Stage 6 - Implementation of short-term (operating) plans
● Stage 7 - Monitor actual outcomes
● Stage 8 - Respond to divergences from plan (taking corrective
action)
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Step 1: Establish Objectives and
Standards

Define the desired outcome, purpose

of the organization, performance
levels, or states for the system or
process. This process is essential to a
business to maintain focus, gather
diverse opinions, and empower and
motivate employees.
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Step 2 : Collection and Analysis

I. Data Collection
First, gather feedback from
III. Measure Customer
online customers through
Satisfaction
surveys, social media, and
customer support interactions. Utilize metrics to quantify
customer satisfaction levels and
II. Analysis and Insights pinpoint areas needing
attention. (NPS score, CES score,
Examine the collected data to
KPI tracking)
identify trends, common issues,
and areas for improvement.
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Step 3: Action Planning and Implementation

1. Root Cause Analysis

Identify the root causes of customer complaints and devise strategies to
address them effectively.

2. Solution Development
Collaborate with cross-functional teams to develop action plans that directly
tackle identified issues.

3. Implementation and Monitoring

Execute the proposed solutions and continuously monitor their impact on
customer satisfaction. 16
Step 4: Communication and Feedback Loop

1. Transparent 2. Feedback 3. Continuous

Communication Solicitation Improvement

Communicate openly Encourage customers Commit to a culture

with customers about to provide further of continuous
the actions being input and suggestions improvement based
taken to address their for ongoing on customer feedback
feedback. improvement. and satisfaction
metrics.

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The planning control
feedback cycle is an iterative
process, and organizations
should continuously monitor
and adjust their systems or
processes to ensure they
remain effective, efficient,
and aligned with their goals
and objectives.

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Assignment 3
You are a newly appointed as a consultant in a private
limited company. Most of the shareholders are
members of board of directors. But, they have no
knowledge of role and responsibilities of BOD.
According to this, you have to explain them it.
In your explanation the following heading should
include:
(a) The role of chairman, Chief Executive Officer(CEO)
and
(b) The functions of BOD

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(a) The role of Chairman

The chairman provides leadership

to the board, set its agenda and
ensures that it operates effectively
in governance and oversight of the
company. Their role is crucial in
driving the board's agenda and
facilitating key decisions.

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(a) The role of Chief Executive Officer (CEO)

The CEO is the highest-ranking

member of the company's executive
team and is responsible for making
key organizational decisions that
steer the company's strategic
direction. CEO is responsible for the
overall management of the
company, implementing the board's
decisions, and ensuring the strategic
direction set by the board by
involving in day-to-day activities.
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(b) Functions of Board of Directors

The board of directors is responsible for

overseeing the company's overall direction
and performance. Its functions include:

● Executing good board governance and

best practices
● Overseeing all board meetings,
including meeting agendas
● Ensuring compliance with industry
regulations
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(b) Functions of Board of Directors

● Making sound financial decisions for

the organization
● Facilitating discussion between the
board and executive teams
● The board's primary responsibilities are
strategic planning, oversight, and
abiding by the principles of good
corporate governance

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The relationship between the chairman, CEO, and the board of
directors is crucial for the success of the company. It's important to
avoid animosity between the CEO and the board, and instead, strive
to nurture a solid, respectful relationship, even when there are
disagreements. 24
 REFERENCES
I. Organizational Structure Analysis:
https://peoplemanagingpeople.com/culture/organizational-structure/
II. Functional Structure: Advantages and Disadvantages:
https://www.indeed.com/career-advice/career-development/functional-str
ucture
III. Principles of Management:
https://courses.lumenlearning.com/wm-principlesofmanagement/chapter/t
he-planning-cycle/
IV. What Is A Control Cycle?:
https://www.superfastcpa.com/what-is-a-control-cycle/

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REFERENCES
V. CEO vs. chairman: How are they different?

https://www.diligent.com/resources/blog/are-ceo-chairman-board-same-person

VI. Board of Directors vs. CEO: What Is the Role of Each?

https://onlinemba.wsu.edu/blog/board-of-directors-vs-ceo

VII. Should your organization divide its CEO and Chairman roles?
https://idealsboard.com/should-your-organization-divide-its-ceo-and-chairman-
roles/
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Thank You