Introduction to Business Management Assignment 3: What You Need to Know

Introduction to Business Management Assignment 3: What You Need to Know

Australia is known for its education system, best universities, and courses. Several students choose business management courses to study at an Australian college every year. The reasons include high employability, developing management and business skills, recognised universities, professional experience, etc. However, in this blog, our experts providing assignment help to university scholars studying business management courses in Australia have discussed all the important details that can help you understand the subject and its assignment.

Lets' Understand 'What is Business Management?"

The most typical and basic type of company is a sole proprietorship. Most small enterprises in the US are owned and operated by a single person. The business is owned, operated, and a sole proprietor handles all commercial dealings. The proprietor is also personally liable for all obligations and liabilities incurred by the firm. A lone proprietor may keep ownership of the company and sell it whenever they choose. A lone proprietor can transfer ownership of their company to their heirs.

There are no particular business taxes that the corporation must pay in this kind of operation. In addition to paying income taxes, the owner also pays taxes on the company's income.

The licencing requirements of the states where they conduct business and any applicable municipal laws and zoning rules must be complied with by sole proprietors. However, because there is far less documentation and formalities than for companies, single proprietors can start a firm quickly and easily from a bureaucratic perspective. Additionally, starting a firm as a sole proprietor is less expensive, which appeals to several new business owners who sometimes struggle to get an investor.

Advantages of a Sole Proprietorship

• The firm is entirely within the sole proprietor's control and judgement authority.
• The lone proprietor may decide to sell or transfer the property.
• No corporation taxes are paid.
• Low-cost legal fees for establishing a sole proprietorship
• There are few formal business requirements.

Disadvantages of a Sole Proprietorship

• The business's lone proprietor may be held personally accountable for its debts and liabilities. This risk also includes any obligations incurred of deeds carried out by corporate personnel.
• The sole proprietor is responsible for all duties and business choices.
• Typically, investors won't fund sole proprietorships.

When we have understood business management's meaning, it is time to discuss the assignments covered under Business Management Assignment 3. Our experts providing management assignment help have discussed some questions that have been asked in Business Management Assignment 3.

Assignment Questions – 

Similarly, a few other questions may be asked as a part of your assessment. To answer the first question, you must know Herzberg's Motivators and Hygiene Factors. Our business assignment helped experts discuss some examples of motivating and hygiene factors.

Motivation-Hygiene Theory

According to Herzberg's research, some aspects of work are consistently connected to job satisfaction, whereas other aspects are related to job discontent. Which are:

He concluded that job dissatisfaction and job satisfaction are not opposed.

• The opposite of Satisfaction is No Satisfaction.
• The opposite of Dissatisfaction is No Dissatisfaction.

Solving the problems that are causing your discontent won't make you happy. Additionally, increasing job satisfaction criteria won't make people happier at work. Giving somebody a promotion won't make them feel fulfilled if the workplace is unpleasant. Your team's task won't be rewarding even if you provide a positive work atmosphere but do not give them any of the satisfaction factors.

The elements that contribute to job happiness are "different and different from those that contribute to job discontent," according to Herzberg. As a result, reducing unsatisfactory job conditions may bring about tranquilly but may not always improve performance. Instead of pushing your workers to do better, this appeases them.

The hygiene elements are the traits linked to job unhappiness. People won't be unhappy or pleased until these issues have been effectively handled. Then, you must concentrate on satisfaction criteria like success, recognition, and accountability if you want to inspire your team.

You must use a two-stage method to encourage individuals to put the theory into practice. First, you must remove the unhappiness they are feeling, and then you must assist them in achieving satisfaction.

Step One: Eliminate Job Dissatisfaction

Herzberg referred to the sources of unhappiness as "hygiene issues." It would help if you fixed your organisation's deficient and impeding policies to eliminate them.

• Offer supervision that is efficient, encouraging, and non-intrusive.
• Establish and uphold a respectful and honourable work environment for all team members.
• Ensure that salaries are fair.
• Improve job status by assigning relevant work to all jobs.
• Offer employment security.

You may reduce job unhappiness in your firm by doing any of these steps. Additionally, it is useless to try to inspire others until these problems have been resolved. But you can't end there. It would help if you now concentrated on increasing work satisfaction.

Step Two: Create Conditions for Job Satisfaction

Herzberg asserts that you must address the aspects of motivation work to foster satisfaction. This is what he dubbed "job enrichment." His guiding principle is that every job should be analysed to see how it might be improved and made more enjoyable for the worker. Among the factors to take into account are:

• Offering chances for success.
• Appreciating the contributions of others.
• Developing satisfying jobs that are compatible with people's attitudes and capabilities.
• Assuming the greatest amount of accountability for each team member.
• Giving employees the chance to progress inside the organisation through internal promotions.
• Providing chances for learning and development so that employees may pursue the jobs they want within the organisation.

Are you still unsure of your business management assignment? Want to know more about Business Management Assignment 3? Feel free to connect with us and experience the world-class assignment help at the most decent price. Our services are available round the clock without a single stop. Hence, please don't waste your time and reach us immediately!