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Entrepreneurship, Management & Leadership (Management tasks…
Entrepreneurship, Management & Leadership
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Ent qualities
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Creative thinkers, innovative
Risk takers, positive attitudes, believe in themselves
Good leaders, persuasive, independent
Motivated, dedicated, take control, opportunists
Ent skills
Planning, leading, organising & control. Recognise shortcommings
Environmental scanning
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Before starting business
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Stability of resources (suppliers, financiers, staff, premises, investors, etc)
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Management tasks
Discipline - formal (rules & punishment - COC & discipline hearings) & informal (socially acceptable behaviour rewarded by peers in workplace)
Delegation - employees gain skills & confidence, increase capacity to perform - advancement opportunities
Motivation
Factors
Monetary (money - raises, profit sharing, etc) Problem - discouraged from being creative - become performance/ results driven - don't take risks
Non-monetary (flexible working hours, employee of month award, etc) High income earners - motivated by recognition. Younger employees - job satisfaction. Older - supplement retirement
Communication - convey ideas, give instructions, queries, give feedback
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Coordinating - make sure employees aware of expectations, ensure all business functions work together
Control - make sure goals reached without wasting resources, DRIVE technique, disciplinary action if not up to standard
Leading - encourage to implement plan, make sure going according to plan - communication, leadership & motivation
Organisation - resources available to execute plan (money, people, materials, etc), must inform employees of goals & importance of plan, delegate tasks
Planning - adaptable, realistic, cost-effective & communicated clearly (vision & mission, strategizing, goals & objectives)
Competencies
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Planning (problem solving, time management, resource allocation, organising)
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Skills, attitudes, behaviours & knowledge to be an effective manager