CAT / FIA FBT Syllabus A. The Business Organisation, Its Stakeholders - Features of Business Organisations - Notes ^{2 / 5}

made up by a group of people who work together for the achievement of set goals – different people do different things or specialise in one activity

have business strategies to achieve goals/objectives

have a vision and a mission

have a culture which is formed by the organisational values

have structures (such as department, teams and divisions) and a sound system i.e. systems and procedures

have inputs which are processed and provide an output

have customers besides other stakeholders