+
Related Flashcards
Related Topics
Cards In This Set
| Front | Back |
|
The importance of effective management
|
- Achieve business goals
- Efficiency -> minimise costs + maximised profts |
|
Management Roles (IDI) [3]
|
- Interpersonal (FLL)
- Informational (SMD) - Decisional (NERD) |
|
- Interpersonal (FLL) [3]
|
Communicates to stakeholders and the public
- Figurehead: publicly represents the business - Leader: communicate goals to employees - Liason: maintains relationships with stakeholders |
|
- Informational (SMD) [3]
|
Collects, filters and disseminate information for business
- Spokesperson: - Monitor: analyses competitors, industry and data - Disseminator: filters information in business |
|
- Decisional (NERD) [4]
|
Solves problems and makes decisions
- Negotiator: mediates and makes compromise - Entrepreneur: initiation new goals, visions - Resource Allocator: movement of finance/ resources to achieve goals - Disturbance Handler: taking action to unforeseen problems |
|
Skills of Management (SSPIFTV) [7]
|
- Strategic thinking: thinks for long term
- Interpersonal Skills: communication and charisma - Flexibility: adapts to change - Teamwork: ability to work in a group - Vision: sharing goal of business - Self-management: working autonomously - Complex problem solving and decision making - Personal/ Ethical standards: business values |
