lecture 3 and 4 - ManagingTheBusinessEnterprise...

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Inntroduction to business spring 20 Managing The Business Enterprise
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Inntroduction to business spring 20 Who are Managers? A Manager is the person responsible for planning and  directing the work of a group of individuals, monitoring  their work, and taking corrective action when necessary.  For many people, this is their first step into a management  career.Managers may direct workers directly or they may  direct several supervisors who direct the workers. The  manager must be familiar with the work of all the groups  he/she supervises, but does not need to be the best in any  or all of the areas. It is more important for the manager to  know how to manage the workers than to know how to do  their work well.  Examples:  The Production Manager  developed a staffing plan for the factory.
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Inntroduction to business spring 20 Setting Goals and Strategy Formulation Goals:An objective that a business hopes or plans to  achieve. Strategy:  Long-term   action plan  for achieving a  goal
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Inntroduction to business spring 20 Types of strategy Corporate strategy Business Strategy Functional Strategy
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Inntroduction to business spring 20 Types of Goals Long term goals ( least 5 years and onwards) Immediate goals( 1 to 5 years) Short term goals ( for very near future less than 1 year)
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Inntroduction to business spring 20 Purpose in setting goals Provides direction and guidelines Helps allocating resources Helps in assessing performance
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Inntroduction to business spring 20 Strategy Formulation   1: setting strategic goals 2: SWOT analysis 3: Analyzing organizations business environments like  threats and opportunities. 4: match the org and its environment. 5: formulate strategy
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Inntroduction to business spring 20 The management Process Planning Organizing Directing  Control
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Inntroduction to business spring 20 Types of Managers Top managers Highest  ranking   executives  (with  titles  such as  chairman/chairwoman,  chief executive officer , managing director president executive directors , executive  vice-presidents , etc.)  responsible for the entire  enterprise . Top  management  translates  the  policy  (formulated by the  board-of-directors ) into  goals objectives , and  strategies , and  projects  a shared-vision of the  future. It makes  decisions  that affect everyone in the  organization and is  held  entirely responsible for the  success  or  failure  of the  enterprise. 
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lecture 3 and 4 - ManagingTheBusinessEnterprise...

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