Chapter 8: Management Activities of Planning, Organising and Controlling Flashcards
Define Planning
clearly setting goals for the organisation and how these goals are to be achieved
what are the four steps in planning
- analysing the situation
- identifying a goal
- drafting a plan
- implementing and review
what is a swot analysis
strenths weakenesses oppurtunites and threats
what is a strategic plan
a stategic plan is a 5 year plan to achieve the company’s mission statement
what is a tactical plan
a 2-3 year plan to help achieve the strategic plan
what is an operational plan
weekly monthly plans to help achieve the tactical plan
what is a contingency plan
a back up plan
what is SMART
specific measurable agreed realistic timed
define organsing
bringing people and reosuces together effectively to implement plans
what are the four types of organisational structures
functional organisational geographic
matrix
two benefits of a functional structure
builds up staff skill
shows a clear line of promotion
two disadvantages of a functional structure
employess lose sight of overall goal and communications can be slow
two advanatages of organisational structure
improves communication
easier to make new products
two disadvantages of organisational structure
wasteful duplication of resoruces and wasteful competition
two advantages to geographic structure
staff can meet customer needs
can stir healthy competition
one disadvantage of geographic structure
wasteful duplication of resoucres
two advantages of matrix structure
effiecent and better relationship between employees
two disadvanatges of matrix structure
two bosses and training costs
explain span of control
is the number of people referring directly to the manager
explain chain of command
how decisions flow from the top of an organisation through the layers to the bottom
what are the 4 types of control within a business
stock
quality
credit
financial
explain stock control
ensuring stocks are kept at optimum levels which keeps customers happy
explain quality control
ensuring products meet legal and customer standards
explain credit control
firms who sell goods on credit need to ensure they get paid fully and on time
explain financial control
businesses must ensure that all aspects of their finances are monitored
why is control important to management
control identifies deviations from plans
control reduces waste of resources
stock control ensure the right stock is available at the right time
credit helps minimise bad debts
quality control helps improve product quality
financial control monitor the financial health of the business
