Download - Chapter 1 (BB)
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CHAPTER 1 Introduction to Business Management
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Learning Outcomes define the term management; differentiate between the concepts efficient and effective; discuss the various resources needed for an organisation; illustrate the physical transformation process; explain the four fundamental management functions; explain the six additional management functions; describe each of the management skills required by the
different levels of management; distinguish between the different levels of management; briefly distinguish between all the functions of a business; discuss how general management interacts with other
business functions
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What is Business Management? (pg.1)
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Efficiency vs. Effectiveness
Efficient Effective
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Limited Organisational Resources
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Organisational Resources (pg2)
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Organisational Resources
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The Transformation Process (pg 4)
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The Transformation Process (pg 4)
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Four Fundamental Management Functions (pg 5)
Core Management
Functions
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6 Additional Management Functions (pg. 6)
Coordination
DisciplineDelegation
Motivation
CommunicationDecision-Making
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Management Skills (pg 7)
Technical skills Interpersonal skills Conceptual skills Diagnostic skills Communication skills Decision-making skills Time- management skills
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Management Skills (pg 7)
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Management Skills (pg 7)
CommunicationConvey ideas and
information as well as receive ideas and
information with others effectively.
Decision-making
Choose a plan to solve a problem, has
consequences or results
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•Responsible for overall direction• Lt goals, vision and mission• CEO, MD
•Implement decisions of top management• Medium term planning• Marketing, HR, Finance etc.
• Responsible for daily activities
• Short-term planning• Supervisors
Management Levels (pg 9)
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8 Business Functions (pg11)
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LEVELS OF MANAGEMENTLEVELS OF MANAGEMENTTOP MIDDLE FIRST LEVEL
4 CORE MANAGEMENT ACTIVITIES4 CORE MANAGEMENT ACTIVITIES
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8 BUSINESS FUNCTIONS8 BUSINESS FUNCTIONS
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Conceptual
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Next Session...
CHAPTER 2The Business Environment