Lasa 5 original only | Business & Finance homework help
Management and operations refer to the various activities that ensure a business is running smoothly. This includes legal, risk, HRM, ethics and CSR management. Legal aspects of an organization refer to its compliance with applicable laws and regulations. Risk management ensures the organization is taking all necessary precautions to avoid potential risks and mitigate their impact if they occur. HRM involves managing employee relations within the company, such as recruiting, training & development, compensation & benefits, performance evaluation etc., in order to maximize productivity and job satisfaction for organizational growth. Ethics refers to moral principles or standards that guide one’s behaviour or conduct in a particular situation whereas CSR relates to businesses seeking opportunities for making profits with due consideration for environmental protection and social welfare responsibilities.