management direct control co-ordinate. management functions 1. planning – making decisions /...
TRANSCRIPT
MANAGEMENT FUNCTIONS
1. planning – making decisions / policy /
methods - to achieve the objectives
2. co-ordinating – integrating activities in order to form a
united strategy
3. motivating – encouraging
4. controlling – supervising and checking
STAKEHOLDER Free Currency Trading eBook From Forex.com Home > Dictionary Stakeholder What Does Stakeholder Mean?
A party that has an interest in an enterprise or project. The primary stakeholders in a typical corporation are its investors, employees, customers and suppliers. However, modern theory goes beyond this conventional notion to embrace additional stakeholders such as the community, government and trade associations.
Read more: http://www.investopedia.com/terms/s/stakeholder.asp#ixzz1cvAhXjGo
STAKEHOLDERS
ECONOMIC ENVIRONMENT
economic cycles, international competition
FINANCIAL ENVIRONMENT
banks, investors
REGULATORY ENVIRONMENT
government, legislation
SOCIAL ENVIRONMENT
welfare, ecology
BUSINESS ORGANISATION
MANAGERS ARE RESPONSIBLE TO THE FIRM’S:
owners - to achieve the best possible
return on the capital invested clients - to provide goods and services
of the specified quality, within the
agreed time, at a fair price employees – to provide the safest and most
comfortable working conditions,
to pay a fair wage
Two-tier corporate hierarchy
a) Board of directors
- elected by shareholders - internal – inside directors (executive) - external – outside directors (non-executive) - monitor managers (report to owners)
- make strategic decisions: which markets to enter/pull off how to finance expansion develop new products acquire / take over new products by buying other companies
b) Management team
- the CEO – the top manager - involved in day-to day operations - departmental managers (Finance, Production, Marketing, Legal, Research & Development, Distribution ........
HIERARCHY
superior = a person of higher rank or position
(a superior officer)
subordinate = lower in rank or position
MANAGERSo set objectiveso work out methods to achieve themo analyse the activitieso divide the work into individual jobso select peopleo form effective teamso motivate (pay, promotion)o measure the performance of the staffo train and develop their staff
2. Make common business collocations:
1. set a) crises
2. allocate b) responsibility
3. take c) objectives
4. establish and maintain d) resources
5. deal with e) good relations
3. Use the following words to fill in the gaps:
officers, managing director (CEO), subordinates, non-executive directors, managers, superiors, authority, board
All the directors together are the ___________ .
_______________________________ are not managers of the company,
they are outsiders who give advice but are not responsible for making
decisions.
The CEO or MD is supported by various executive _________________
or senior _________________________each with clearly defined
___________________ and responsibility.
The __________________ is in charge of the way the company is
managed on a day-to-day-basis.
Management delegate responsibility to _________________________
and receive orders from ________________________ .
4. Who controls a PLC?
____________________________ (owners of the company)
________________________ (elected by the shareholders)
___________________________ (appointed by the board)
5. Who are “fat cats”?
http://www.investopedia.com/video/play/fat-cat-ceo
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________