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Questions and Answers
What is a benefit of responding to local trends in a geographical organizational structure?
What is a benefit of responding to local trends in a geographical organizational structure?
Which statement accurately describes the concept of glocalization?
Which statement accurately describes the concept of glocalization?
What is a potential disadvantage of a geographical organizational structure?
What is a potential disadvantage of a geographical organizational structure?
In the context of a geographical organizational structure, why might competition between regions be beneficial?
In the context of a geographical organizational structure, why might competition between regions be beneficial?
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During the control process, what is the first step?
During the control process, what is the first step?
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What could cause conflict between management in a geographical organizational structure?
What could cause conflict between management in a geographical organizational structure?
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What role does controlling play in an organization?
What role does controlling play in an organization?
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How can logistical improvements in a geographical structure benefit a company?
How can logistical improvements in a geographical structure benefit a company?
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Which of the following is a challenge faced when each region manages its own resources?
Which of the following is a challenge faced when each region manages its own resources?
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What might be an outcome of duplicating resources in different regions?
What might be an outcome of duplicating resources in different regions?
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Study Notes
Management Activities Overview
- Key management activities include planning, organizing, and controlling.
- Effective planning involves setting clear objectives and determining strategies to achieve them.
Planning
- Offers direction and purpose, guiding organizations toward objectives.
- Planning should adhere to SMART criteria for effectiveness:
- Specific: Clearly define goals, such as increasing market share by 25%.
- Measurable: Allow for tracking and evaluating success.
- Agreed: Ensure consensus among staff for collaborative execution.
- Realistic: Set achievable objectives to avoid unrealistic expectations.
- Timed: Establish reasonable deadlines for goal completion.
Types of Plans
- Mission Statement: Outlines the organization's overall purpose.
- Strategic Plan: Long-term goals and direction (typically 3-5 years).
- Tactical Plan: Short-term actions to support the strategic plan.
- Operational Plan: Day-to-day activities and operations.
- Contingency Plans: Prepare for unforeseen events like supply disruptions or market competitors.
Benefits of Planning
- Reduces risk and uncertainty by identifying weaknesses through SWOT analysis.
- Encourages future focus, allowing proactive strategic adjustments.
- Attracts investors by showcasing a well-prepared business plan for financing.
- Influences management and employee dynamics by determining span of control based on task complexity and employee experience.
Organisational Structure Importance
- Defines authority levels and establishes a clear chain of command.
- Streamlines communication and enhances work efficiency and quality.
Organisational Structures
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Functional/Line Structure: Divides a business into specialized departments.
- Benefits include department specialization for skill-building and a clear chain of command but can hinder cross-department communication.
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Matrix Structure: Teams are formed with members from various departments for specific projects.
- Promotes greater business unity and improved decision-making through enhanced collaboration.
- Encourages shared responsibility among team members but may lead to complexities in reporting.
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Geographical Structure: Adapts operations to meet local preferences and increases responsiveness to market changes.
- Offers logistical improvements but can duplicate resources across regions and may create conflict due to differing management perspectives.
Controlling
- Involves monitoring business performance to ensure objectives are met.
- Comprises a systematic control process:
- Set Standard: Establish performance benchmarks (e.g., reducing costs by 15%).
- Measure Actual Performance: Evaluate outcomes against set standards.
- Correct Deviations: Adjust strategies when performance falls short to guide the business back on track.
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Description
Explore the essential elements of planning within management activities. This quiz covers the SMART principles that guide effective planning and emphasizes the importance of coordination in achieving organizational objectives. Test your knowledge on how planning sets a course for business success.
