2.1 What do managers do?

Question 1

What is management?

Answer 1

The process of getting things done through others

Question 2

What are the 4 key elements managers do?

Answer 2

Planning
Organising
Directing
Controlling

Question 3

What types of data can be used for planning?

Answer 3

Market Research - What do customers want?
Competition Survey - Who are we against?
Estimation of demand - is there a big enough market?
Research in costs
Financial resources of the business
Strength of the business
Weaknesses of the businesses

Question 4

Data should be?

Answer 4

Reliable - is the source trustworthy?
Timely - is the data up to date?
Quantity - is there too much data?
Relevance
Validaty

Question 5

What types of data can be used for organising and directing?

Answer 5

Set objectives must be SMART
Set targets for departments
Set targets for teams
Set targets for individuals
Set rewards

Question 6

What types of data can be used for reviewing?

Answer 6

Sales targets
Output targets
Unit Costs targets