Management Activities - Chapter 8

Planning
1. Steps
  1. 1. SWOT Analysis
    1. Internal
      1. Weaknesses
        e.g Not enough money, out of date machines
      2. Strengths
        e.g Excellent Staff, up to date machines
    2. External
      1. Threats
        e.g Competition from new countries
      2. Opportunities
        New countries join EU (Chance to sell more)
    3. Business example
      1. Ryanair
        Excellent CEO
        Famous Brand
        Industrial relations problems
        Poor customer service to passengers
        Transatlantic service
        Expansion of EU (New countries)
        Competition from other budget airlines (easyjet)
        Increasing fuel prices
  2. 2. Set objectives
    1. Air Lingus did a SWOT he saw Costs where ^ set objectives of cutting costs.
  3. 3. Devise strategies
    1. Used to achieve Objectives
    2. Aer Lingus used a Redundancy strategy making 2000 employees redundant
    3. Low cost leadership strategy
    4. Differentiation strategy
    5. Niche strategy
  4. 4. implement plan
    1. Communicates plan to all employes
    2. Aer Lingus implemented its plans byasking employees to volunteer for redundancy
2. Business strategies
3. Set goals(Objectives)
4. 1. Manpower planning
  1. Goal of ensuring enough employees
    1. Redundancy strategy
    2. Recruitment strategy
  2. 1.Forecast future demand
  3. 2. Calculate existing supply
  4. 3. Take corrective action if needed
5. 2. Cash flow forecasting
  1. Calculates cash - receive + spend
  2. Ensure it can pay its bills in the future
6. 3. Mission
  1. Need to have direction or purpose
  2. Overall fundamental objective of business
  3. (A) What business does now
  4. (B) What it plans to do in the future
  5. (C) The business's values and beliefs
7. 4. Strategic plan
  1. Long term plan
  2. Breaks up the mission statement
  3. Senior managers
8. 5. Tactical
  1. Short term plan
  2. Middle managers
  3. Breaks up strategy plans (usually within a year)
9. Advantages
  1. Guides business to sucess
  2. Helps avoid future problems
  3. Eliminates the business's weaknesses
  4. Helps secure capital
  5. Motivates employees and managers
Organising
1. Functional
  1. Advantages
    1. Specialisation
    2. Acountablity
    3. Clarity
  2. Disadvantages
    1. Co-ordination
    2. Isolation
2. Matrix
  1. Disadvantages
  2. Advantages
3. Geographical
  1. Advantages
  2. Disadvantages
4. Product
  1. Advantages
    1. Competition
    2. Lower costs
    3. Focus on cutomer
  2. Disadvantages
    1. Brand cannibalisation
    2. Duplication

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Management Activities - Chapter 8

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