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CH 8 management activities - Coggle Diagram
CH 8 management activities
orgainsing
Matrix team based
are a type of organisational structure where staff are brought together into teams to achieve a clearly stated team goal
Geographic
divides the origination according to the geographical markets it serve
product
Organises a business on the basis of the product it makes . each product division has its own set smf
Fuctional
A functional structure divides a business into different departments according to the management functions of marketing ,production, human resources and finance
Advantages
specialisation in each function.ie marketing
Disadvantages
Isolation from each other
Teamwork between functions might not be there
Planing
Strenghts
your specialist marketing expertise , a new innovative product or service
location of your business
quality processes and producers
Weakness
Lack of marketing expertise .
undifferentiated products or service
poor quality of goods or services
Damage repution
Opportunities
a developing market such as internet
mergers joint ventures or strategic alliances
a new international market
a market vacated by an ineffective competitor
Threats
A new competitor in your home market .price wars with competitor
competitors have superior access to
channels of distribution .
Taxation is introduced on your product or sevice
Planning is the process of clearly setting out goals/objectives for an organization and setting out a plan of to achieve targets
Benefits of planning
Helps to indentify internal strenghts
The business can set realistic targets for the future
Mission statements
are short but precise statements used by companies to summarise who we are, what we do ,and what direction we are heading in
control
stock
ensures business has the correct amount stock at all times
Try not too much stock as money is tied up
Cost of holding two much stock
Talking up space .cost money to store e.g storage rent
Just in time
Aim to keep minimum amount of stock.
Raw materials arrive just in time to be made finished goods manufactured and delivered JUST IN TIME to be sold
1 more item...
enough to satisfy consumers demand or production demands
opportunity cost s money have been put to other usese
Quality
Credit
Monitors the amount of goods sold now put pay later
Ensures bills are paid within a reasonable time
you can give customers a credit rate of 30,60,90 depending on customers history
Finance :
Financial control is used to monitor the financial affairs of the business to ensure it is profitable and always has enough money to pay its bills
Financial control can be achieved by using
Cash flow budgets 2. Ratio analysis
cost control
Break even analysis
making sure that business's products meet the standards set down by business
IT Aims
To prevent problem's .To detect before goods reach customers .Improved quality means happier customers
Ways to Control Quality
Inspections ; physically examine the products before they leave factory
