Functions of Management
5 management functions
Planning, Organizing, Staffing, Controlling, Leading
C word for Human Resources
Cultivate
Sell Direct To Consumer with no third party
Direct to Consumer (D2C)
the study of how individuals and societies make decisions
economics
" is the oxygen of the modern age" - Ronald Reagan
Information
3 broad levels of management
Supervisory, Middle Management, Officer/executive
controls the daily functions of a job
Operations
uses electronics to buy/sell products
E-commerce
Behavior of the economy as a whole
Macroeconomics
" people well enough so they can leave. them well enough so they don't want to."
Train, Treat
Organizational structure that shows who each person reports to
Chain of Command
The engine of a car compared to
Operations
Retailer
the loss of potential gain from another alternative
Opportunity Cost
"Ideas are worth ..." - Steve Jobs
"... nothing unless excuted" -Steve Jobs
Acronym for Management functions
"Look Popeyes chicken Sucks Ok"
Functions of finance and accounting
Finance-organizing transactions and putting them where they go.
Accounting-planning for the future based on those organizations.
obtaining needed services by soliciting contributions from a large group
Crowdsourcing
3 questions all societies need to answer
What is being produced?
How should it be produced?
For whom is it being Produced?
Who said "Begin with the end in mind"
Stephen Covey
4 skills of an effective manager
1.) Problem Solving skills 2.) People skills 3.) Procedural skills 4.) Leadership skills
Function for "people need to be informed to make informed decisions
Strategy
Making commissions from selling goods directly and also from their network
Multilevel Marketing
5 types of economics utility
1.) Form 2.) Task 3.) Place 4.)Time 5.)Possession
Who said "A vision without a strategy remains an illusion"
Lee Bolman