Management Activities: Planning & Organizing

The process of setting business goals and objectives, then outlining strategies to achieve them.

A formal analysis of a company's internal strengths and weaknesses, and external opportunities and threats.

A long-term plan outlining the company's overall direction and strategies for the next 5+ years.

Shorter-term plans that break down the strategic plan into more manageable steps, typically covering 1-2 year periods.

Short-term plans that specify daily or weekly targets and activities for the business.

Special plans designed to handle unexpected events or emergencies.

The overall purpose and direction of a business - a concise statement summarizing its core values and goals.

The process of assigning tasks, resources, and authority to employees to achieve organizational goals.

A plan should be Specific, Measurable, Agreed or Achievable, Realistic and Timely.

A hierarchy that shows the flow of authority in a business.

The chart that outlines the levels of authority in a business.

The number of subordinates reporting to a manager.

Communication is challenging, increased costs, time wasted in meetings, suitable for large firms.

Clear communication, reduced costs, increased workload for supervisors, less opportunity for promotion.

Reducing the number of management layers in an organization.

Ensuring that the products made by a business meet the expected quality standards. This involves setting quality targets, conducting inspections, and taking corrective action when needed.

A formal system used to ensure that products meet predetermined quality standards set by the business.

A process of carefully inspecting products before they are shipped to customers to ensure that they meet quality standards.

A group of employees who work together to identify and solve quality-related problems. They share ideas and suggestions for improvements.

Managing the amount of credit given to customers and ensuring timely payments to minimize the risk of bad debts. Credit control involves setting credit limits, monitoring payments, and taking collection action when needed.

The person responsible for managing credit given to customers within a business, overseeing credit limits, debt collection, and communication with debtors.

A structured process that aims to improve the quality of products or services. These standards can be internal or external, and are often used to verify the quality of operations and products.

A standard mark that indicates that a product meets certain quality requirements. This mark is recognized by consumers as a symbol of high quality and trustworthiness.