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TOPIC 2: BUSINESS MANAGEMENT

Nature of Management
Management Approaches
Management Process
Managing Change


​The nature of management

Features of effective management

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?

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: 
  • 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
TASK: Read and complete the worksheet.
  • Staff involvement - innovation, motivation, mentoring, training
READ:
  • 25 Tips on increasing staff involvement (Clever Control)
  • ​Developing staff through mentoring (Business Queensland)
TASK: Complete the worksheet.
Management Approaches
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  • Home
  • About
    • About
    • Education Blog
    • Writing Blog
  • Case Studies
  • Courses
  • HSIE Resources
    • HSC Business Studies >
      • Operations >
        • Role of operations management
        • Influences
        • Processes (overview) >
          • Inputs
          • Transformation processes
          • Outputs
        • Strategies
      • Marketing >
        • Role of marketing
        • Influences
        • Process
        • Strategies
      • Finance >
        • Role of Financial Management
        • Influences
        • Processes
        • Strategies
      • Human Resources >
        • Role of human resource management
        • Influences
        • Processes
        • Strategies
        • Effectiveness
    • Preliminary Business Studies >
      • Nature of Business >
        • Role of business
        • Types of businesses
        • Influences
        • Business growth and decline
      • Business Management >
        • Nature of management
        • Management approaches
        • Management process
        • Management and change
      • Business Planning >
        • SMEs
        • Influences
        • Business Planning Process
        • Critical Issues
    • Economics >
      • Introduction to Economics >
        • The nature of economics
        • The operation of an economy
      • Consumers and Businesses >
        • Businesses
      • Markets >
        • Demand
        • Supply
        • Market equilibrium
        • Market structures
      • Labour Market >
        • Demand and supply of labour
        • Labour market trends
      • Economic Issues >
        • Economic growth
        • Unemployment
        • Inflation
        • External Stability
        • Distribution of Income and Wealth
        • Environmental Sustainability
    • Society and Culture >
      • Course Framework
      • Research Methods
      • P1: Social and Cultural World
      • P2 Personal and Social Identity
      • P3: Intercultural Communication
      • PIP
      • H1: Social and Cultural Continuity and Change
      • H2: Popular Culture - Social Media
      • H3: Equality and Difference
    • Geography (old syllabus) >
      • Coastal Management
      • Urban Growth and Decline
      • Human Rights
  • Contact