Chapter 1.2 Flashcards
List the managerial levels
Top management
Middle management
First line management
Describe top management
They define the purpose, goals, strategies and long term plans for the business
Describe middle management
They’re responsible for implementing the top managers strategy by developing medium term goals, strategies and plans
-They report to top management and supervise the work of lower management
First line management
-They’re responsible for implementing the plans and strategies formulated by senior/middle managers over the short term
List the business functions
-General management
-Operations management
-Financial management
-Purchasing management
-Administrative management
-Marketing management
-Human Resource management
-Public relations management
Describe General management
Concerns all the activities that are necessary to the very important task of management on all levels throughout the business
Describe operations management
-The management process used in manufacturing businesses and in service businesses
-They are the management activities that need to take place in order for products and services to satisfy the needs of customers
Describe financial management
The management of the business financial activities
Describe purchasing management
-Deals with acquiring all the resources that a business needs to achieve its objectives
Describe administrative management
Its concerned with the service of obtaining and analysing information and communicating the results
Describe marketing management
-The process of transferring goods and services to customers to satisfy their needs as well as the activities that make the transfer possible
Describe HR management
-It includes all the activities concerned with procuring, developing, compensating, intergrating and retaining personnel
Describe PR management
It evaluates public attitudes, promotes the policies and procedures of a business to the public and executes programmes of action to earn public acceptance and understanding
