Management Activities - Chapter 8

Paul Stafford
Mind Map by Paul Stafford, updated more than 1 year ago
Paul Stafford
Created by Paul Stafford about 5 years ago


Mind Map on Management Activities - Chapter 8, created by Paul Stafford on 11/11/2015.

Resource summary

Management Activities - Chapter 8
1 Planning
1.1 Steps
1.1.1 1. SWOT Analysis Internal Weaknesses e.g Not enough money, out of date machines Strengths e.g Excellent Staff, up to date machines External Threats e.g Competition from new countries Opportunities New countries join EU (Chance to sell more) Business example Ryanair Excellent CEO Famous Brand Industrial relations problems Poor customer service to passengers Transatlantic service Expansion of EU (New countries) Competition from other budget airlines (easyjet) Increasing fuel prices
1.1.2 2. Set objectives Air Lingus did a SWOT he saw Costs where ^ set objectives of cutting costs.
1.1.3 3. Devise strategies Used to achieve Objectives Aer Lingus used a Redundancy strategy making 2000 employees redundant Low cost leadership strategy Differentiation strategy Niche strategy
1.1.4 4. implement plan Communicates plan to all employes Aer Lingus implemented its plans byasking employees to volunteer for redundancy
1.2 Business strategies
1.3 Set goals(Objectives)
1.4 1. Manpower planning
1.4.1 Goal of ensuring enough employees Redundancy strategy Recruitment strategy
1.4.2 1.Forecast future demand
1.4.3 2. Calculate existing supply
1.4.4 3. Take corrective action if needed
1.5 2. Cash flow forecasting
1.5.1 Calculates cash - receive + spend
1.5.2 Ensure it can pay its bills in the future
1.6 3. Mission
1.6.1 Need to have direction or purpose
1.6.2 Overall fundamental objective of business
1.6.3 (A) What business does now
1.6.4 (B) What it plans to do in the future
1.6.5 (C) The business's values and beliefs
1.7 4. Strategic plan
1.7.1 Long term plan
1.7.2 Breaks up the mission statement
1.7.3 Senior managers
1.8 5. Tactical
1.8.1 Short term plan
1.8.2 Middle managers
1.8.3 Breaks up strategy plans (usually within a year)
1.9 Advantages
1.9.1 Guides business to sucess
1.9.2 Helps avoid future problems
1.9.3 Eliminates the business's weaknesses
1.9.4 Helps secure capital
1.9.5 Motivates employees and managers
2 Organising
2.1 Functional
2.1.1 Advantages Specialisation Acountablity Clarity
2.1.2 Disadvantages Co-ordination Isolation
2.2 Matrix
2.2.1 Disadvantages
2.2.2 Advantages
2.3 Geographical
2.3.1 Advantages
2.3.2 Disadvantages
2.4 Product
2.4.1 Advantages Competition Lower costs Focus on cutomer
2.4.2 Disadvantages Brand cannibalisation Duplication
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