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Business Studies
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- Essay length: 20212 words
- Submitted: 06/03/2011
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 up
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