Hierarchy, Recruitment, Ethics, and Improvement in IoT Business

Running head: Foundation of Business 1
Foundation of Business

Foundation of Business 2
Contents
Overview..........................................................................................................................................3
Hierarchy chart................................................................................................................................3
Steps to recruit the staff and perform their roles.............................................................................4
Leadership styles.............................................................................................................................5
Code of ethics..................................................................................................................................5
Moral and financial reasons.............................................................................................................6
Ethical issues that be specific to your IoT product..........................................................................6
Developing a “Risk Management Plan”..........................................................................................7
To continuously improve your business..........................................................................................8
Conclusion.....................................................................................................................................10
References......................................................................................................................................11

Foundation of Business 3
Overview
This report will explore the development of the IOT product which has described in the first
assignment. This product will be helpful in tracking the location of someone or the working of
the organization. The product of IOT will provide the entire information regarding the exact
location and the information will be stored automatically after generating. The main aim of this
report is to elaborate on the hierarchy chart in order to expand the exploration. The
improvements are mentioned under this assignment in order to bring this IOT product in the
system.
Hierarchy chart
Hierarchy is the way to structure of the company that use various kinds of level of authority and
a vertical link between the subordinate levels and superior of the organization (Clauset, Moore
and Newman, 2008). The hierarchical structure of Smart Tracker Organization is mentioned
below:

Foundation of Business 4
The above mentioned hierarchical chart is for the company that will produce the smart tracker
for tracking the various activities; it is required for the business to have an efficient knowledge
regarding the new products. There should be a proper department within the organization so that
the management of the new IoT products could be managed in a sophisticated manner. The
company would be benefitted with launching the products as the hierarchical organizational
structure will be helpful to track the activities in the easiest manner. With the guidance of the
marketing director, marketing managers lead the team of the sales which would be hiring for
defining the importance of the products to an Australian company for which the seminar would
be ready. It is necessary for the company to have the financial director in the company who
should be hired for looking after the situation of the accounts. Production manager will focus on
the process of production in an effective way so that the proposed IOT products fulfill the need
of the customers.
Managing Director
Marketing Director
Marketing
Managers
Sales
Team
Finance
Supervisions
Account
Assistants
Finanace Director Operations Director
Production
Team Leaders
Production
Team Members