BUSINESS MANAGEMENT Management Process. SYLLABUS – BUSINESS MANAGEMENT Management process:  Coordinating key business functions and resources. You must.

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Presentation transcript:

BUSINESS MANAGEMENT Management Process

SYLLABUS – BUSINESS MANAGEMENT Management process:  Coordinating key business functions and resources. You must be able to investigate aspects of business using hypothetical situations and actual business case studies to:  Analyse different ways of coordinating key business functions for Small and Medium Enterprises (SME’s).

RECAP  What is allocation of resources?  Which business resources need to be allocated?

MANAGEMENT PROCESS Dot point: Coordinating key business functions and resources.  What are the business functions of a school?

MANAGEMENT PROCESS Dot point: Coordinating key business functions and resources.  Four key functions of a business: 1.Finance 2.Human Resources 3.Operations 4.Marketing  Note: Management act as the link between these functions.

MANAGEMENT PROCESS Dot point: Coordinating key business functions and resources.  Read p.140-1of the textbook “Coordinating Key Business Functions.”  Write a sentence on each of the functions. ___________________________________________________  Can you think of examples of each of the functions from your own casual job? If so, add these to your definitions.

SYLLABUS: MANAGEMENT PROCESS - FINANCE Write down the syllabus dot points below:  Finance  Cash flow statement  Income statement  Balance sheet

MANAGEMENT PROCESS - FINANCE Dot point: Finance (general)  Go to pollev.com/amypascoe114  Answer the question: what do you associate with the finance function of a business?

MANAGEMENT PROCESS - FINANCE Dot point: Finance (general)  Read the section titled “Financial” in new textbook p.144.

MANAGEMENT PROCESS - FINANCE Dot point: Finance (general)  Copy down the following:  Finance refers to how a business funds its activities as well as the cost, risks and benefits of different types of borrowings.  Accounting is a management and administrative tool for recording financial transactions, so that a summary of what has happened to business money can be traced.

SYLLABUS: MANAGEMENT PROCESS - FINANCE Moving onto new dot point:  Finance  Cash flow statement  Income statement  Balance sheet

SYLLABUS: MANAGEMENT PROCESS - FINANCE You must be able to investigate aspects of business using hypothetical situations and actual business case studies to:  Examine effective cash flow management.

MANAGEMENT PROCESS - FINANCE Dot point: Cash flow statement  We will discuss the section “Cash flow Statement: Financial Statement 1” on p  Ensure you write definitions for:  cash flow statement  cash inflows  debtors  Note: Cash flows are classified as “operating,” “investing” and “financing.”

MANAGEMENT PROCESS - FINANCE Dot point: Cash flow statement  Find a listed company’s latest Annual Report.  Locate the “Statement of Cash Flows“.”

MANAGEMENT PROCESS - FINANCE Dot point: Cash flow statement  What information do you think management want to ascertain from the cash flow statement?

MANAGEMENT PROCESS - FINANCE Dot point: Cash flow statement NOTE: this is a syllabus outcome.  Let’s read the article at the bottom of p.146.  What would offering discounts to customers for early payments do to the cash flow?  What is meant by “distribution of payments?”

MANAGEMENT PROCESS - FINANCE Dot point: Cash flow statement  Kahoot