management strategies Flashcards
staff training
Training refers to the process of teaching staff how to do their job efficiently, boosting their knowledge and skills. It can be completed on the job or off the job.
what are the strategies 12
- staff motivation
- staff training
- management styles/skills
- increased investment in technology
- improving quality in production
- cost cutting
- initiating lean product techniques
- redeployment of resources
- innovation
- global sourcing of inputs
- overseas manufacturing
- global outsourcing
staff training KPI’s
- percentage of market share
- number of sales
- level of staff turnover
- number of complaints
- number of workplace accidents
- rate of productivity growth
staff training business opportunities
improved skills can lead to product quality enhancements, better service, and business reputation boosts, leading to new products being developed and more customers
staff motivation
motivation is what drives employees to apply effort over a sustained period of time.
- performance related pay
- career advancement
- investment in training
- support strategies
- sanction strategies
KPI’s of staff motivation
- level of staff turnover
- rates of staff absenteeism
- number of sales
management styles + skills
the preferred method of operating as a manager including ways of making decisions and inclusivenesses of employees the ability that benefit managers to preform their roles.
staff motivation business opportunities
can lead to improved performances, helping drive new innovations, market expansions + a greater share of market
KPI’s management styles + skills
- to make a profit
- number of sales
- percentage of market share
- rate of staff absenteeism
- number of customer complaints
- level of staff turnover
management skills
- communication
- delegation
- planning
- leadership
- decision making
- interpersonal
management styles business app
varied styles can lead to better employee morale + market growth
increased investment in technology
new applications of scientific knowledge which aim to optimise the operations of the business
tech KPI’s
- productivity growth
- wastage levels
- workplace accidents
- net profit figures
tech business opp
tech may enable a business to access new markets
Improving quality in production
improves the standard of the end good or services that reaches the consumer
quality strategies
- quality control
- quality assurance
- total quality management
cost cutting
reducing the expenses within the business without comprising product/services value
cost cutting KPI’s
- net profit
productivity growth
wastage
number of sales
initiating lean product techniques
a holistic approach to enhance operational efficiency by reducing waste
lean product KPI’s
- level of wastage
- net profit
- market share
- sales
lean tech business opp
lean tech can lead to more streamlined processes + better responsiveness.
redeployment of resources
the transformation to resources from one area of the business to another so they can be used. more effectively + efficiency
- natrual, labour, capital
Innovations
the act of introducing something new or making changes to something that already exists
Global outsourcing of inputs
where the business obtains its resources from overseas suppliers
overseas manufacturer
the production of goods in foreign country, rather than in the home country of the business
global outsourcing
This is where goods and services are sourced from the global market where a third party provider is used to complete certain business functions
contemporary example
aldi
labour resources
people who provide their skills, effort + knowledge in business
- people who work in the business
capital resources
tools + machinary that are used to produce goods + preform services
natural resources
items the business uses that come from the natural enviornment.
eg. land, air water, soil, plants, minerals, fuels + animals
