Business studies notes grade12
Unit 5 general management and corporate governance
MANAGEMENT
Top: general management
Middle: functional management
Lower: supervisors
Entrepreneur
Combines 3 factors of production, sees opportunities, invests capital, top management.
Creativity, innovation, commitment, coordinate, communicate, supportive, motivational.
Intrapreneur
Within a business, all levels, implement new idea within business.
Leader
Manager Inspires others
Authority in specific position
Focusses on people
Maintains systems
Develops new methods
Fixed focus on tasks
Challenges status quo
Accepts status quo
MANAGEMENT STYLES
1. Autocratic One person makes decisions, quick
2. Democratic Allows input, committed staff
3. Laissez-Faire No manager interference, highly skilled workforce
4. Transformational Emphasizes teamwork, motivational, empowering
5. Situational Combination of all, depending on situation
6. Transactional Performance = rewards
, Business studies notes grade12
MOTIVATIONAL FACTORS
Monetary and non-monetary
Reward employees for good performance, can encourage future performance.
Motivated employees = good customer service, productivity, profit, less
training, good publicity etc.
MONETARY = MONEY-TARY
Motivators: money, commission, bonus, vacation, shares, salary increases
Problems: damage relationships within business, create competition
NON-MONETARY = NOT MONEY
Motivators: working hours, training, employee of the month
Problems: employees needs differ, not all employees perform better
BALANCE
Not ‘one size fits all’, specifically tailored, mut have balance between both to
satisfy diverse needs of workforce.
MANAGEMENT TASKS
LEADING
ORGANISING
PLANNING
CONTROL
, Business studies notes grade12
Planning
Overall operations, long and medium term, how goals are to be met, 5W1H
TECHNIQUE
Leading
Staff put into action, given instructions, delegate and motivate, guidance
Organizing
All resources be available, allocate roles, inform employees on targets
Control
Ensure goals are reached, accountability, quality standards are met
6 ADDITIONAL TASKS
Co-ordination C- CHARLES
Communication C- CAN
Delegation D- DRINK
Discipline
D- DR PEPPER
Decision making
Motivation D- DAILY
M- ON MONDAYS
MANAGEMENT COMPETENCIES
Skills, attitudes, behaviors and knowledge necessary for effective managers
Global Organizational analysis Strategic thinking/ teamwork
awareness awareness strategic action
Empowerment initiative Judgement/ negotiation Customer
Talent decision service
development making orientation
