MANAGEMENT

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MANAGEMENT

• DIRECT
• CONTROL
• CO-ORDINATE

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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

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STAKEHOLDER

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• Home gt 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.as
  pixzz1cvAhXjGo

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STAKEHOLDERS
ECONOMIC ENVIRONMENT economic cycles,
international competition
FINANCIAL ENVIRONMENT banks, investors
BUSINESS ORGANISATION
REGULATORY ENVIRONMENT government, legislation
SOCIAL ENVIRONMENT welfare, ecology
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MANAGERS ARE RESPONSIBLE TO THE
FIRMS

• 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

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Two-tier corporate hierarchy

• 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

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• b) Management team
• - the CEO the top manager
• - involved in day-to day operations
• - departmental managers
• (Finance, Production, Marketing, Legal,
• Research Development, Distribution
  ........

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HIERARCHY

• superior a person of higher rank or position
• (a superior officer)
• subordinate lower in rank or position

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MANAGERS

• set objectives
• work out methods to achieve them
• analyse the activities
• divide the work into individual jobs
• select people
• form effective teams
• motivate (pay, promotion)
• measure the performance of the staff
• train and develop their staff

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• 1. MK p 13 1,2

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2. Make common business collocations

• set a)
  crises
• allocate b)
  responsibility
• take c) objectives
• establish and maintain d) resources
• deal with e) good
  relations

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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 ________________________
  .

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4. Who controls a PLC?

• ____________________________ (owners of the
  company)
• ________________________ (elected by the
  shareholders)
• ___________________________ (appointed by the
  board)

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5. Who are fat cats?

• http//www.investopedia.com/video/play/fat-cat-ceo
  
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