Chapters 1& 2

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mefielding.com

Finance CFAB Chapters 1&2

Mark Fielding-Pritchard

1

P7 Stakeholders Chapter 1

Directors

Customers

Suppliers

Lenders

Government

Public

Environmental mefielding.com

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Peter Drucker Objectives P10

Market standing

Innovation

Productivity

Resources

Profitability

Manager& staff performance

Social responsibility mefielding.com

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Objectives SMART

Specific

Measureable

Achievable

Relevant

Time bound mefielding.com

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What Is Management Chapter 2

 Management is getting things done through other people

Planning

 Controlling

 Leading

 Organising mefielding.com

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Quinn P27 Culture

Well being of staff

HR

Flexibility

Open

Systems

Inward

Internal environment stable mefielding.com

Internal

Process

Control

Rational

Goal

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External

Requirements

Outward

External goals

Marketing P30 Chapter 2

FMCGs

White

Brown

Soft

Services mefielding.com

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Marketing P31 Chapter 2 4Ps

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-

-

-

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Product

Price

Place

Promotion

Advertising

Sales promotion

Public relations

Direct marketing

Personal selling mefielding.com

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Marketing Case Study

 Housham Garden mefielding.com

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Operations Management P36

1. The 4 V’s Overview

All operations processes have one thing in common, they all take their

‘inputs’ like, raw materials, knowledge, capital, equipment and time and transform them into outputs (goods and services). They do this is different ways and the main four are known as the Four V’s, Volume,

Variety, Variation and Visibility.

Volume- MacDonalds

Variety Taxi vs Bus

Variation Barratt vs One off

Visibility UPS mefielding.com

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The Harvard Model

 Employee influence- DOA, power, influence

 Human resource flows – recruitment, selection, promotion, termination

 Reward systems- salary, motivation

 Work systems design of work, alignment of people

This was developed into the 4cs mefielding.com

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HR Management p39

Commitment

Competence

Congruence

Cost effectiveness

Overall conclusion is that we judge all HR activities on 3 criteria, organization, individual, society mefielding.com

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McGregor P42 mefielding.com

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P43 mefielding.com

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Herzberg P44 mefielding.com

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Tuckman, Group Action Stages mefielding.com

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Belbin P46 Team Roles mefielding.com

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Belbin Strengths mefielding.com

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Belbin P46 Team Roles 2 mefielding.com

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Likert Leadership Styles P47 mefielding.com

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Exploitative Authoritative System

 In this type of management system the job of employees/subordinates is to abide by the decisions made by managers and those with a higher status than them in the organization.

 The subordinates do not participate in the decision making.

 The organization will use fear and threats to make sure employees complete the work set.

 There is no teamwork involved.

Benevolent authoritative System

 Just as in an exploitive authoritative system, decisions are made by those at the top of the organization and management.

 However employees are motivated through rewards rather than fear and threats.

 Information may flow from subordinates to managers but it is restricted to “what management want to hear”.

Consultative System

 In this type of management system, subordinates are motivated by rewards and a degree of involvement in the decision making process.

 Management will constructively use their subordinates ideas and opinions.

 This theory is very closely related to the Human Relations theory.

 Communication in this system flows both downward and upward , though upward is more limited.

Participative Group System

 Management have complete confidence in their subordinates/employees.

 There is lots of communication and subordinates are fully involved in the decision making process .

 Subordinates comfortably express opinions and there is lots of teamwork.

 Teams are linked together by people, who are members of more than one team.

 Likert’s calls people in more than one group “linking pins”.

Delegation mefielding.com

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