Management skills and styles
transferring authority and responsibility to employees for tasks.
What is delegating?
retains all profits for themselves after paying income tax.
What is a feature of being a sole trader?
by improving the community and environment through its business activities.
wants fair pay and working conditions.
What is the vested interest of employees?
Produces goods and services a business sells.
What is operations as an area of management?
as a style requires strong interpersonal and 'leading' skills.
What skills does a participative style require?
owned by between 2 and 20 owners.
providing a product or service that meets the desires of a group of customers with similar needs.
How do businesses fulfil a market need?
wants status and recognition for work achievements.
What is an interest that can motivate managers?
installs equipment and devices within the business and makes sure employees are trained.
How does technology support a business?
requires strong planning skills as only they can set objectives and choose strategies.
What is one of the main skills autocratic management styles require?
they have limited liability for a business' debts
What liability do shareholders have in a publicly listed company?
may not always result in increased profits as they charge lower prices to gain this.
What is a disadvantage to trying to increase market share?
ethical or green marketing that encourages sustainable purchases.
What is one of the CSR considerations of customers?
contributes to a business' objectives by providing other areas with employees they require.
What does Human Resources contribute to a business' objectives?
managers do this by praising and thanking employees and recognizing their motivations.
What way can managers apply interpersonal skills?
not considered a legal business structure.
What makes a social enterprise different?
by generating more revenue than expenses.
How does a business make a profit?
despite this CSR practices can lower costs of operations in the long term.
CSR practices can be more expensive in the short term...
determines the price and options for selling goods or services.
What does sales and marketing do for a business' profit?
by setting an example, employees are more likely to work towards the vision of the business.
has at least one director and up to 50 selected shareholders.
How many people are involved in a private limited company?
expect an income from dividends or selling at a higher price later on.
What do shareholders expect of a business?
may use unsustainable polluting methods to reduce costs and increase profits.
What is a practice that suppliers can do which conflicts with the community's expectation that the environment isn't harmed?
directly affects other areas through the allocation of money.
How does finance impact on other areas of management?