Business Management

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Business Management Flashcards on Untitled, created by Lucille Compton on 05/10/2016.
Lucille Compton
Fichas por Lucille Compton, actualizado hace más de 1 año
Lucille Compton
Creado por Lucille Compton hace casi 8 años
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4 Fundamental Management Functions - Planning - Organising - Leading - Controlling
Basic Resources of an Organisation - Human resources - Financial resources - Physical resources - Information resources
Define Management Management is the process of planning, organising, leading and controlling the scarce resources of the organisation to achieve the organisation's mission and goals as productively as possible.
Planning Top Management - Strategic Plan Functional Managers - Tactical Plan Lower Management - Operational Plan
Managers are classified into two categories. - according to their level in the organisation (top, middle or lower first line) - according to the functional or specialist area of management. (Marketing, Finance, Human resources, Operations, etc.)
Time spent on functional activities Top Managers - Planning & Organising Middle Managers - Organising & Leading First Line Managers - Leading
Overlapping role distribution of managers
Three major skills needed by managers at all levels - Conceptual - Interpersonal - Technical
What are the environmental forces that shape management thought? - Political - Social - Ecological - International - Technological - Economic
Define productivity Productivity is the efficiency with which inputs of capital and labour are used. It relates to the conversion of inputs (resources) into outputs (goods or services) efficiently, effectively and with the optimum use of human capital and physical resources for the benefit of the society, economy and environment.
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