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Revision :pencil2: - Coggle Diagram
Revision :pencil2:
Skills for manager
Carries out the policy decisions
The day-day running of the Business :man_in_business_suit_levitating:
Short term decision making
Technical
Understand how a job is done
Conceptual
Able to plan
Communication
Able to represent the organization
Outside World
Select and pass information to others
Human relations
Able to deal with people
Differentiate sole trader, partnership, limited companies
Sole Trader :silhouette:
One person controlled and owned business
Not require a lot of Capital :money_with_wings:
Run effectively by one person
Partnership :silhouettes:
Number of owners can be 2-20
Each partner can take active part
In running the business
Limited Companies
Shareholders have limited liability
Easy to raise capital
Company name is protected by laws
types of limited company
Can be Private or Public limited
Conflict management
Manager job is to manage without
any interference from anyone
The workforce means
Achieving the objective of Management
Management by objective
Setting of agreed minimum target
and employees to achieve them
Management styles is effective in company
Where business activity is widespread
Such as International company
Management styles
Personality, skill and ability
Mission statement and organization
Participate management
Allows workforce in the management
Group form up to solving or discuss
Consensus management
Formation of management is that everyone
In company has a common belier
company need to prosper
Management by exception
Settle the problems in different areas
Manager will identify
Strength and weakness of the business
And improve the weakness
Allow stronger part of Business
look after themselves