Business Management. Yr 11 Business Studies 9.2 Preliminary topic. Syllabus: You need to……. P2. explain the internal and external influences on businesses. P4. assess the processes and interdependence of key business functions .
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Yr 11 Business Studies
9.2 Preliminary topic
P2. explain the internal and external influences on businesses
P4. assess the processes and interdependence of key business functions
P5. examine the application of management theories and strategies
P6. analyse the responsibilities of business to internal and external stakeholders
P7. plan and conduct investigations into contemporary business issues
P8. evaluate information for actual and hypothetical business situations
P.9 communicate business information and issues in appropriate formats
P.10 apply mathematical concepts appropriately in business situations
New tab = 11 BUS Business Management
Complete the Learn the Lingo Activity sheet
You will learn about
You will learn to
In these cases…..you did not manage either your money or time very well! These cases reveal that you have actually been practicing the art of management for a number of years!
Is the process of coordinating a business’s resources to achieve its goals.
Is the process of working with and through other people to achieve the goals of the business in a rapidly changing environment.
Crucial to this process is the effective and efficient use of limited resources.
A manager is someone who coordinates the business’s limited resources in order to achieve specific goals.
Be as creative as you can!
The goals of a business can only be achieved if manager’s have the right skills and expertise.
QLD Young Manager of the Year 2009: Barbara Miller
and what future goals the business wants to achieve.
An example of a lack of strategic thinking :‘Everything that could be invented has now been invented.’
U.S. Patent Office circa 1900
A problem solving process
Methods in gathering relevant information about a problem include talking to people or completing a questionnaire/survey.
NOTE: A good job description must be a brief concise document of 8-15 short sentences or points - not lots of detail of how each individual task is done.
What are goals?
Write your 2 goals on a piece of paper and keep it in your diary!
What is it that the business wants to happen
Progress can be measured and change evident
Goals need to be achievable yet challenging
Something the business owner and employees are willing to work towards
Must have deadlines attached otherwise commitment is too vague
Total Tomato Sauce market is estimated at $110million
All businesses operate in a community and many adopt strategies to benefit the community
Community service eg events, programs
Provision of employment – employing family members
Social Justice – employees and community members are treated fairly
Economic growth must be achieved sustainably – and there must be a balance between economic and environmental concerns – i.esustainable development. This has come from society’s increasing awareness of environmental issues
Can be goals of a higher income, improved financial security –these are goals of owners and managers and are not usually made public. They do motivate the business owner and underpin the viability of the business