100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Summary Management and entrepreneurship - Business studies GR 11 IEB summaries/notes $4.62   Add to cart

Summary

Summary Management and entrepreneurship - Business studies GR 11 IEB summaries/notes

2 reviews
 26 views  0 purchase
  • Course
  • Institution

This document contains summaries made from " Consumo business studies textbook" which summarizes levels of management; management task such as organizing, planning, communication etc.

Preview 2 out of 5  pages

  • February 10, 2023
  • 5
  • 2020/2021
  • Summary
  • 200

2  reviews

review-writer-avatar

By: beveral • 9 months ago

review-writer-avatar

By: drantoinettemiricmiric • 1 year ago

avatar-seller
Chapter 3
- Management and Entrepreneurship.
• Definition of management:
Management is the process of accepting accountability for innovative application of resources in order to
achieve business goals.

- Levels of management:
➢ Top management.
➢ Middle management.
➢ Lower management.


➢ Top management responsibility:
- Responsible for strategic decision.
- Planning for future.
- Looks at integral demands.



➢ Middle management responsibility:
- Responsible for tactical decisions.
- Interpret top management decisions.




➢ Lower - level management responsibility:
- Responsible for day-to-day decisions.
- Managing operations of business.




➢ Management on all levels perform same task:
• Planning.
• Organizing.
• Leading.
• Controlling.

, ➢ Management tasks:

1. Vision/mission.
2. Plan.
3. Organize.
4. Lead.
5. Control.

• Planning is about deciding up front:

➢ What should be done?
➢ How it should be done?
➢ When it should be done?
➢ Who should be doing it?


• Principles of effective planning:

1. Rational process aimed at the future.
2. Funnel approach.
3. Flexible.
4. Planning takes place at all levels in the business.


• Importance of planning:
Planning > Effectiveness > Success >


- Flexibility:

Means that the business may in certain instances, adapt to internal & external
circumstances.
A business needs to asses the potential benefits vs. the cost of before significant
changes are made.



Steps in the planning process:
Step 1: Establishing objectives.
Step 2: Deciding the planning period.
Step 3: Considering alternatives.
Step 4: Implementing the plan.
Step 5: Control process.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller kayleevandyk. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $4.62. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67474 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$4.62
  • (2)
  Add to cart