management
DESCRIPTION
Irish Leaving Cert presentation on the topic of management for Higher level BusinessTRANSCRIPT
Management
Chapter 5
Management
Management is a process that
involves a manager working with people and using other resources to ensure that the business achieves its goals.
Managing Director (MD)
Chief Executive Officer (CEO)
e.g. Michael O’Leary is CEO of Ryanair. In 1985, Ryanair flew just one route.
Now one of the most successful airlines in the world.
Management in different places
At Home : Parents must manage the family budget.
In the Community: Tidy towns committee must manage the effort to make sure things are done properly
In School: School principal must manage staff and delegate the classes to teachers
In Government: Minister for finance must manage the
economy Minister for Health must manage
hospitals etc
In Business: Must make sure that employees do
their job Must make sure that customers are
satisfied Must make sure that the business
makes a profit
Characteristics of Managers
1. Decisive:Good managers can analyse a situation and make good decisions
2. Initiative:Good managers do not have to be told what to do. They can start things
3. Good with People:Good managers get along with people.
4. Hard Worker:Good managers put time and effort into their job.
5. Flexible:Good managers can change their schedules easily.
6. Charismatic:Good managers have charisma. Employees are more likely to do what charismatic manager says.
Entrepreneur v Manager
Entrepreneur Entrepreneur sets
up the business and only answers to herself.
The entrepreneur takes a big risk when setting up the business.
Managers The manager runs
the business for the entrepreneur.
The manager doesn’t take the same degree of risk.
The entrepreneur comes up with the idea for the business
The entrepreneur focuses on the ‘big picture’
The manager ensures the entrepreneurs ideas are carried out.
The manager concentrates on the day-to-day running of the business
Examples
Richard Branson comes up with ideas for his new venture (Virgin Enterprises)
He then hires managers to run the business while he moves onto a new project.