TOPIC 2: BUSINESS MANAGEMENT
The nature of management
Features of effective management
Skills of management
Achieving business goals
Skills of management
- interpersonal, communication, strategic thinking, vision, problem-solving, decision-making, flexibility, adaptability to change, reconciling the conflicting interests of stakeholders
Achieving business goals
- profits, market share, growth, share price, social, environmental
- achieving a mix of the above goals
- staff involvement - innovation, motivation, mentoring, training
Features of effective management
THINK: What do you think are the features of effective management?
READ: 7 Keys to becoming a more effective manager (Peter Economy of Inc) and Five Qualities of Good Management (Chron) - how many of these suggestions align with the features you thought about?
READ: 7 Keys to becoming a more effective manager (Peter Economy of Inc) and Five Qualities of Good Management (Chron) - how many of these suggestions align with the features you thought about?
Skills of management
The skills of management are part of what makes an effective manager.
READ: Skills for running a business and Essential skills for business (Business Queensland).
TASK: Complete the Business skills checklist (Business Queensland).
The readings and the checklist only touch upon some of the skills the syllabus lists:
TASK: Research what each of these skills involve (eg by searching job ads for executive managers) and complete the worksheet.
READ: Skills for running a business and Essential skills for business (Business Queensland).
TASK: Complete the Business skills checklist (Business Queensland).
The readings and the checklist only touch upon some of the skills the syllabus lists:
- interpersonal, communication, strategic thinking, vision, problem-solving, decision-making, flexibility, adaptability to change, reconciling the conflicting interests of stakeholders
TASK: Research what each of these skills involve (eg by searching job ads for executive managers) and complete the worksheet.
Achieving business goals
READ:
- The importance of setting goals (Quinns)
- Aims and objectives of a business (tutor2u)
The syllabus says business goals should have a mix of these categories:
- profits, market share, growth, share price, social, environmental
- Staff involvement - innovation, motivation, mentoring, training
- Staff involvement (Perfect Circle)
- Nine steps to foster staff innovation (Computerworld)
- Developing staff through mentoring (Business Queensland)
TASK: Complete the worksheet.