5 Mamagement Flashcards
Define management
Management is a process that involves working with people and using resources, such as money and equipment, to ensure that the business achieves its goals.
What is the management team and whos in charge??
a number of people in charge of running the business.
The manager in overall control of the business is called the Managing Director (MD), also known as the Chief Executive Officer (CEO).
Name the 6 Characteristics of Managers
1.Decisive
2.Initiative
3.Good with people
4.Hard worker
5.Flexible
6.Charismatic
What does it mean for a manager to be 1.Decisive
Can analyse a situation and quickly come up with an effective solution to deal with it
They are resolute and don’t dither or hesitate
What does it mean for a manager to be 2.Initiative
Dont need to be told what to do
Have ability to start things
Inventive and can think up new ideas and find solutions to problems themselves
What does it mean for a manager to be 3.Good with people
Able to get along with people
Know how to get them on side and get the best out of them
Can convince them to do what the business needs
What does it mean for a manager to be 4.Hard Worker
Put effort and time into their job
Don’t just work 9-5,
if a problem must be dealt with they stay behind and work til its resolved
What does it mean for a manager to be 5.Flexible
Able to change their methods and approaches to business as the business and situation change
They are adaptable
What does it mean for a manager to be 6.Charismatic
Persuasive and inspirational
Arouse enthusiasm and interest in others with their personal charm
Inspire loyalty and devotion in their employees
This makes ppl respect and like them
Example of a 1.Decisive manager
Management in the newly privatised Aer Lingus acted decisively by transferring their London routes from Shannon, to Belfast, despite public protests
Example of a 2.Initiative management
Michael O leary has thought of many innovative ways for ryanair to reduce costs
Getting rid of airport check in saves the airline 50€ mil a year
Example of a 3.Good with people manager
“Having a personality of caring about ppl is important. U cant be a good manager unless you generally like people. That’s how u bring out the best in them”- Sir Richard Branson, founder of Virgin media
Example of a 4.Hard worker manager
Aer Lingus managers stayed up all night in negotiations with Aer Lingus Trade Unions at the WRC to settle a trade dispute
Example of a 5.Flexible Manager
Following a threatened pilots strike, Michael O’Leary changed his long standing policy on trade union recognition and announced in 2017 that Ryanair would negotiate with unions for the first time in the airlines history
Give an example of a 6.Charismatic manager
Co-founder of Apple, Steve Jobs was a charismatic manager. He was extremely passionate and had an infectious enthusiasm.
