Topic 2: nature of management Flashcards Preview

Business studies year 11 > Topic 2: nature of management > Flashcards

Flashcards in Topic 2: nature of management Deck (17)
Loading flashcards...
1

what is a manager

a person responsible for controlling an organisation or group of staff

2

responsibilities of a manager(4)

planning
organising
leading
controlling

3

what goes into planning

setting up strategic, tactical and operational plans, establishing goals and allocating resources

4

what goes into organising

setting out procedures to be implemented into the plans

5

what goes into leading

motivating employees to work hard to achieve the business's goals

6

what goes into controlling things

monitoring and evaluating performance and making adjustments to plans and/or procedures to achieve the businesses goals

7

list some key business goals(5)

profit
market share
social
environmental
staff involvement

8

why is profit set as goal

to know that the returns offered by the business are better than any safer alternative

9

why is market share set as a goal

in order to increase sales and revenue

10

why is growth set as a business goal

as growth increases the businesses profitability increases

11

why is share price set as a goal

the higher the price of shares the higher the total value of your business

12

why are social goals set

businesses are responsible to people and society in general as they affect there quality of life

13

why are environmental goals set

in order for bussinesses to lower their carbon footprint

14

what are some reasons why staff involvement is important (4)

Innovation
motivation
mentoring
training

15

what can innovation from staff bring to a business

allowing staff to innovate can allow for difficult problems to be solved and give the business a competitive edge

16

how is motivation linked to staff involvement

staff being involved in the company, means they put work into it and become more motivated by doing so

17

why is mentoring important from staff

because it allows the staff to give pointers and knowledge of the business to newer employees thus giving the employees greater purpose.