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Business Studies

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  • Essay length: 20212 words
  • Submitted: 06/03/2011
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GCSE Business, Companies and Organisation, Activity

The first 200 words of this essay...

Business Studies

Topic 1: Business management and change

1. The Nature of management:

The nature of management

> Large companies have shareholders, they employ people to run the business

> Successful managers coordinate the work activities of employees to ensure everyone is working towards a common objective

The importance of effective management

> Effective management is achieving the goals of business and not wasting resources

> In international markets it has been essential for Australian businesses to increase their efficiency to be competitive

Management roles

Interpersonal

> Way managers deal with/interact with people

> Based on effective communication

> Leading involves; setting standards, fostering workers loyalty, establishing goals, encouraging and motivating workers to achieve their potential

Informational

> Must be aware of what is happening in the business

> Receiving, collating and analyising information and giving it to the appropriate people

> Concerned with monitoring information

> The control process needs to develop standards, measure performance, and make comparisons to see whether corrective actions need occur such controls include:

* Input controls: these controls are set

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