Busman sac 1
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Is a form of a business ownership which combines the expertise and resources of two to 20 people. | Partnership |
Social enterprises are simalir to other companies as they are all profit seeking | How are social enterprises similar to other companies |
Social enterprises are different to other companies as a social enterprise main goal is to help the less fortunate countries and or the environment. | How do social enterprises differ from other companies |
Is a form of business that is owned and operated by the government and is located in the public sector of the Australian economy. | Government business enterprise (GBE) |
Vic Roads, Australia Post | Exapmle of GBE |
Business objectives including to make a profit, to increase market share, to fulfil a market and/or social need and to meet shareholder expectations. | Business objectives |
A global statement that reflects an organisation’s reason for being or purpose and the way in which it will be managed. | Define strategies |
Vision statement is a written document, which outlines the broad direction the organisation hopes to take in the future | Vision statement |
Mission statement is A global statement that reflects an organisation’s reason for being or purpose and the way in which it will be managed. | Mission statement |
Management style is the manner and approach of providing direction, implementing plans and motivating people. | Management style |
1. Sales and Marketing 2. Human Resource Management 3. Finance 4. Operations 5. Technology support | 5 types of management style |
Is a type of style that focuses on achieving the end result | Task orientated |
Style focuses on how the manager considers the needs of employees, as well as their involvement when providing direction and implementing plans. | People orientated |
- Manager makes decisions alone and instructs employees what to do. - One way communication (top down). - Control is centralized at the top with the manager. | Autocratic Task centred |
- Employees are left to make decisions by themselves, with no involvement by management although they will have clear objectives. - Communication two way. - Control is decentralized as decisions are made and tasks completed by employees with little or no involvement of the manager. | Laissez-Faire Only to be used with extremely experienced group of employees. |
Communication is the process of creating and exchanging information between people that produces the required response. | Skill of communication |
Which involves sharing information and understanding between two people; the manager and a subordinate or a small group or work team. | Personal communication |
Delegation is the process where formal authority is passed down the hierarchy of a business. | Delagation skills |
Long term - 2-5 Years A process undertaken by senior management to define its strategic direction and objectives. | Strategic - senior management |