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4013920
Management Activities - Chapter 8
Descrição
Mapa Mental sobre Management Activities - Chapter 8, criado por Paul Stafford em 11-11-2015.
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higher level
Mapa Mental por
Paul Stafford
, atualizado more than 1 year ago
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Criado por
Paul Stafford
mais de 8 anos atrás
15
1
1
Resumo de Recurso
Management Activities - Chapter 8
Planning
Steps
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e.g Not enough money, out of date machines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
2. Set objectives
Air Lingus did a SWOT he saw Costs where ^ set objectives of cutting costs.
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
4. implement plan
Communicates plan to all employes
Aer Lingus implemented its plans byasking employees to volunteer for redundancy
Business strategies
Set goals(Objectives)
1. Manpower planning
Goal of ensuring enough employees
Redundancy strategy
Recruitment strategy
1.Forecast future demand
2. Calculate existing supply
3. Take corrective action if needed
2. Cash flow forecasting
Calculates cash - receive + spend
Ensure it can pay its bills in the future
3. Mission
Need to have direction or purpose
Overall fundamental objective of business
(A) What business does now
(B) What it plans to do in the future
(C) The business's values and beliefs
4. Strategic plan
Long term plan
Breaks up the mission statement
Senior managers
5. Tactical
Short term plan
Middle managers
Breaks up strategy plans (usually within a year)
Advantages
Guides business to sucess
Helps avoid future problems
Eliminates the business's weaknesses
Helps secure capital
Motivates employees and managers
Organising
Functional
Advantages
Specialisation
Acountablity
Clarity
Disadvantages
Co-ordination
Isolation
Matrix
Disadvantages
Advantages
Geographical
Advantages
Disadvantages
Product
Advantages
Competition
Lower costs
Focus on cutomer
Disadvantages
Brand cannibalisation
Duplication
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