Business Management Chunks 1&2

what are the 9 skills of management

interpersonal, communication, strategic thinking,vision, problem solving, decision making, adaptability to change / flexbility, reconciling conflicts of interest

what the 6 business goals

profits, market share, growth, share price, social, environmental

What is management

management is aprocess concerned with coordinating and integrating work activites to achieve the goals of a business, with and through other people

what are interpersonal skills

skills needed to work and communicate with other people and to understand their needs

what are communication skills

verbal and non verbal communication between individuals / groups. exchange of information between people, the sending and recieving of messages

what is strategic thinking

allows a manager to see a business as a whole, involves thinking about the business’ future direction

what is a vision

a clear, shared sense of direction that allows people to attain a common goal

what is problem solving as a skill

broad set of activities involved in searching for, identifying and implementing a course of action to correct an unworkable siuation

what is decision making as a skill

the process of identifying the options and then choosing a specific course of action to solve specific problems

what is adaptability to change / flexbility as a skill

the ability of an organisation to alter itself to changing circumstances, learn from experiences and improve strategies

what is reconciling conflicts of interest as a skill

assessing and attempting to satisy conflicting interests

what are four strategies to reconcile conflict

environmental practices, triple bottom line, share acquisition schemes, training and devel

what is internal growth

increasing sales, introducting innovative products, purchasing new equipment or establishing more outlets

what is external growth

merging or acquiring another business

what are social goals

adopting a set of policies to ensure that employees or other community members are treated equally and fairly

what are the main social goals

community service, provision of employment

what are environmental goals

concerned whether environmental resources will be protected and maintained for future generations

what is staff involvement

involving employees in the decision making process

what are the four ways staff are involved in the business

training, innovation, mentoring, motivating

what are the four types of management approaches

classical scientific, classical bureaucratic, behavioural, contingency

what are the two leadership styles

autocratic, democratic

what is the classical approach

how to best manage and organise workers to improve productivity

what is the classical scientific approach

focused on the science of creating specialised work processes and workforce skills to complete production tasks efficiently

what are the characteristics of the classical scientific approach

task specialisation, standardised work methods, efficiency and productivity focus

what is the classical bureaucratic approach

the belief than an organisation must have a defined hierarchical structure and clear rules, regulations and lines of authority which govern it

what are the characteristics of the classical bureaucratic approach

strict hierarchical and organisational structure, discipline as a feature of leadership, clear lines of communication / responsibility

what are the three key functions of management in classical scientific

planning, organising, controlling

what is the organisational structure

the structure of a busines refers to the way the work activities are allocated and grouped, the amount of regulation there is and who is given the authority to make decisions

what are the principles of the hierarchical organisational structure

pyramid structure, division of labour, rigid chain of commmand, small spans of control

what is the autocratic leadership style

a leadership style characterised by individual control over all decisions

what are the advantages of the autocratic leadership style

directions / procedures clearly defined, employees roles and expectations are set out plainly, provides a stable and consistent environment

what are the disadvantages of the autocratic leadership style

no employee input allowed, ignores the importance of employee morale and motivation

what is behavioural management

concentrates on group relationships and recognises the part of individual mindset and group behaviour in organisational effectiveness

what are the advantages of behavioural management

increased productivity, enhanced employee engagement / motivation, improved teamwork / collaboration

what are the disadvantages of behavioural management

resistance to change from employees, potential conflict among employees, increaed time and effort required for employee participation

what are the three management roles

leading, motivating, communicating

what are the advantages of teams

increaed accuracy, interaction stimulates ideas, more adaptive and flexible to change

what is democratic leadership

a style of leadership in which all members of the organisation work together to make decisions

what are the advantages of democratic leadership

useful for problem solving, ideas are tested and refined, more enthisiasm from members

what are the disadvantages of democratic leadership

decisions may be made more slowly, employees may not develop and expertise, difficulty in trying to ensure employees work together

what is the contingency approach

concept stating that there us no one universally applicable set of management principles to organisations