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Finance CFAB Chapters 1&2Mark Fielding-Pritchard

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P7 Stakeholders Chapter 1

Directors

Customers

Suppliers

Lenders

Government

Public

Environmental

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Peter Drucker Objectives P10

Market standing

Innovation

Productivity

Resources

Profitability

Manager& staff performance

Social responsibility

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Objectives SMART

Specific

Measureable

Achievable

Relevant

Time bound

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What Is Management Chapter 2

Management is getting things done through other people

Planning Controlling Leading Organising

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Quinn P27 Culture

HR Open

Systems

Internal Process

Rational Goal

Flexibility

Outward

Control

Inward

External goals

Internal environment

stable

Well being of staff

External Requirement

s

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Marketing P30 Chapter 2

FMCGs

White

Brown

Soft

Services

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Marketing P31 Chapter 2 4Ps

Product

Price

Place

Promotion

- Advertising

- Sales promotion

- Public relations

- Direct marketing

- Personal selling

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Marketing Case Study

Housham Garden

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Operations Management P36

1. The 4 V’s OverviewAll 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

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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

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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

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McGregor P42

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P43

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Herzberg P44

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Tuckman, Group Action Stages

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Belbin P46 Team Roles

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Belbin Strengths

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Belbin P46 Team Roles 2

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Likert Leadership Styles P47

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.

This promotes a more positive effect on employee relationships and allows them to be more cooperative.

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”.

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Delegation