The Basics Of Business Management. Essay

917 words - 4 pages

Topic 1 - Business Management and ChangeUNIT 1.1 - THE NATURE OF MANAGEMENT (PAGE 2)*Management is the process of getting things done through other's activitiesoIn the business world,"XInvolves creating and environment encouraging individuals to carry out acts.*Achieving personal and corporate goals.oLargely a people orientated activity involving,"XDiscussion"XDecision making"XDirecting"XAdvisingoTasks of managers vary depending on"XThe nature of the business"XLevel of management concernedThe Importance of Effective Management (Page 4)*Successful managers to achieve organisational goals efficiently and effectively.oEfficiency is concerned with the relationship between inputs and outputs (good to minimise costs of resources).oEffectiveness in management is about achieving goals.Efficentcy EffectivenessManagement Roles (Page 6)There are three types of management roles, which include:*The interpersonal Role*The Informational Role*The Decisional RoleThe Interpersonal Role*Focuses sustainability on interpersonal relations*Organisations should be based on 'Group ethic' rather than the autocratic model.*Managers and workers should be partners as part of a common group and that managers should lead rather than command.Successful managers should understand the interplay of the many forces within the organisation and act accordingly.Leading involves setting goals, standards and example for subordinates, encouraging to work well.*This interpersonal side of management relies on effective communications and creating an mage that command respect, loyalty and a desire to get things done.Informational Roles*Deals with the need for management to communicate with all parts of the business.*Information from both internal / external areas*Implement controls, which will provide management with information each stage.*Three stages of controlsoInput controls"XEstablishes standards/criteria which ensure the correct number and quality of inputs with sufficient stores to meet immediate need."XKnown as a Feed Forward Control - aimed at preventing anticipated problemsoConcurrent controls"XOccurs while production is taking place (Steering, screening)"XMeasures performance against set standards.oFeedback controls"XCompares output or results with the forecast performance."X(output or post-action controls)The Decisional Role*Mangers play roles where they are required to make choices. This invoices decision-making.*Also play a part inoEntrepreneural RolesoDisturbance handlersoResource AllocatorsoNegotiatorsThe Skills Of Management (Page 9)The main skills of management include:*People skills*Strategic Thinking*Vision*Flexibility and Adaptability to Change*Self Management*Team Work*The Ability to solve complex problems and make decisions*Ethical and High personal standardsPeople Skills (Page 9)*Recent trends in management science point to greater cooperation, consideration and consultation between employees and management.*Upward communications - Managers will seek ideas on...

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