Management midterm REVIEWER part2 Flashcards
refers to the coordination of work activities through and with other people to accomplish the goals of an organization. It involves both art and science, balancing people skills with systematic processes
Management
Managers should:
Make Decisions
Organizing and Staff the Positions
Plan
Control Activities
Lead the group toward its objectives
1991
R.A 6977
the use of influence to motivate employees to achieve organizational goals.
DIRECTING/ LEADING
They measure actual performance and guide it toward some
predetermined goals
Control Activities
Micro
Php3m or less in assets and one to nine employees
amended by Republic Act 8289 in
1997
6977 as Republic Act in
1991
ADVANTAGES OF SMALL BUSINESS
- Personalized relationships with employees and customers.
- Flexibility in management.
- Government incentives
- Simple record keeping
- Independence
refers to the Process, Techniques in coordinating activities of people, the
direction of actions towards common goals.
Management
amended by Republic Act 9501 in
2008
The ________________ categorizes MSMEs based on their asset size and number of employees
Department of Trade and Industry(DTI)
involves the assignment of tasks into departments, and the allocation of
resources to departments. (MEN, MONEY, and MACHINES)
ORGANIZING
BIR
Bureau of Internal Revenue (revenue collection)
The _________ Enacted by the Philippine Congress
Magna Carta for Small Enterprises (R.A. 6977)
THERE ARE TWO KINDS OF SMALL BUSINESSES
micro business
small business
can be integrated as part of organizing, which involve putting the right
men to the right jobs.
STAFFING
Republic Act 3883
known as the Business Names Law
CHARACTERISTICS OF SMALL BUSINESS
- Labor Intensive.
- Efficient in a specialized skill or service.
- Successful in a small, isolated or overlooked markets.
- Often operates in unstable markets.
- Closer to the markets.
- Ownership and management are generally under the same person.
- Capital comes from the owner or small group.
- Small are of operation.
- The size of the business enterprise is small in relation to the industry.
They determine the structure and allocation of jobs, and they place people in them
Organizing and Staff the Positions
FEATURES OF SMALL BUSINESS
- It is privately owned.
- It has a few or no layers of management.
- Generally, it has insufficient resources to dominate its field of
business.
Medium
Php15,000,001 to Php100,000,000 in assets and 100 to 199 employees
Two Government Agencies involved
SEC
DTI – BTRCP
ECONOMIC CONTRIBUTIONS OF SMALL BUSINESS
- Create employment
- Fill needs of society and big business
- Introduce innovation
- Provide competition
SSS
Social Security System (social justice)
is the attainment of organizational goals in an effective and efficient
manner using functions of planning, organizing, directing and controlling organizational
resources.
Management
Large
Php100,000,001 or more in assets and 200 or more employees
WHY SMALL BUSINESS FAILS
- Lack of business experience
- Lack of financing
- Lack of adequate sales
- Poor credit practices
- Wrong choice of business
- Lack of business records
1997
R.A 8289
they motivate subordinates in their performance to
achieve common objectives.
Lead the group toward its objectives
SEC
Securities and Exchange Commission
PTO
Permit to Operate
2008
R.A 9501
they develop a process for choosing, from available alternatives, actions that will achieve desired results.
Make Decisions
Two important elements by definition of management
The Management functions of planning, organizing, directing and controlling
The attainment of organizational goals in an effective and efficient manner.
monitoring of employees activities, determining whether the
organization is in line with goals, and making corrections as necessary, from deviations
CONTROLLING
a group changed through a cycle of births and deaths.
Small businesses
Small
Php3,000,001.00 to Php15,000,000 in assets and 10 to 99 employees
They anticipate the future, discover alternative courses of action, and set guides for
future decisions.
Plan
DTI – BTRCP
Department of Trade and Industry, Bureau of Trade
Regulation and Consumer Protection
defines where the organization wants to be in the future and how to get
there.
PLANNING
DISADVANTAGES OF SMALL BUSINESS
- Difficulty of raising fund
- Risk of failure
- Limited management skills
- Lack of opportunities for employees
