Managing a Business

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Employee motivation refers to the forces and reasons that inspire employees to engage in their work. Research shows that motivated and productive employees contribute to the company's profitability. Employers work to increase employee motivation because research indicates that motivated employees lead to increased work quality and improved attendance.

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  • What are the six theories of management?

    Q: What are the six theories of management?

    A: The six theories of management are classical management, scientific management, bureaucracy, human relations, contingency and system theories. All of these different theories evolved during the 19th and 20th centuries, and describe different perspectives about how management can be formulated.
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  • What is management structure?

    Q: What is management structure?

    A: Management structure refers to the organization of the hierarchy of authority, which defines accountability and communication channels within an organization and with its external environment. Each organization has its unique management structure based on its operations, but the common denominator present in every organization's management structure is that it defines the flow of responsibility within an organization. It also defines who is responsible for each role in an organization.
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  • What does a managing director do?

    Q: What does a managing director do?

    A: A managing director is in charge of developing new business for the firm, ensuring customer satisfaction, employing and retaining workers and briefing the board of directors on the development of the firm. He wins and maintains new clients and also creates harmonious working conditions for all employees within the firm. A managing director runs the business on behalf of the board of directors.
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  • Why is cost classification important to managers?

    Q: Why is cost classification important to managers?

    A: Cost classification, a process of cost accounting, is important to managers because it helps them make decisions that keep departments on budget and maximize future profits. Cost classification groups put similar costs together to aid in managerial decision-making.
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  • How do you write a staffing plan?

    Q: How do you write a staffing plan?

    A: A comprehensive staffing plan is essential for the successful running of a business, as finding the right staff levels in an organization is accompanied by the risks of over staffing and under staffing. In cases where an organization is under staffed, the employees feel stressed and overworked and productivity suffers, and the best producers may leave. When an organization is over staffed, many workers are idle and there is wastage.
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  • What is tactical decision making?

    Q: What is tactical decision making?

    A: Tactical decision making is a business strategy where decisions are made with the end result of ensuring a company is as successful as possible, according to Blue Collar University. This means the company makes decisions that will contribute to the longevity, profitability, and continued improvement of all areas of operation.
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  • What is the importance of project risk management?

    Q: What is the importance of project risk management?

    A: Risk management is an approach in which an organization explores identifies, analyzes and mitigates the risks that can affect a project, according to project-management.com. The purpose of risk management is to protect the project from financial, social, cultural, environmental and other related risks.
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  • What are types of management control?

    Q: What are types of management control?

    A: According to Boundless, the three main types of management control are feed forward, concurrent and feedback controls. A multiple control management system is also possible when the three kinds of controls are combined. The focus of managerial processes determines the kind of control that is implemented within an organization. Each of the management controls aims at ensuring optimal utilization of resources and motivation of employees.
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  • What is the best small business to start during a recession?

    Q: What is the best small business to start during a recession?

    A: Three good small business ideas to start during a recession are a household cleaning service, dog poop cleaning service and neighborhood street curb address painting. All three of these businesses can be started with an investment of under $100. Cleaning homes, garages and yards is an evergreen business regardless of the economy. Hauling away unwanted junk is another option.
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  • What does the administrative department do?

    Q: What does the administrative department do?

    A: An administration department is responsible for providing administrative aid in five areas of a business: information management systems, human resources, payroll, acquisition and communication. The goal of the administration department is to keep all departments within a business operating at maximum capacity.
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  • What is the meaning of "organizational strategy?"

    Q: What is the meaning of "organizational strategy?"

    A: Organizational strategy refers to the actions and benchmarks a company puts in place to ensure that long-term goals are achieved. These plans list the necessary steps in a sequence that must be completed in order to make an idea into a reality. This process requires extreme oversight into every aspect of corporate operations and a grasp of the company's main audiences.
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  • What is the difference between recall and recognition?

    Q: What is the difference between recall and recognition?

    A: Recall is a verb, meaning to bring back from memory, while recognition is a noun. It is defined as the act of recognizing or the identification of something as having been previously seen, heard and known.
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  • What does management do?

    Q: What does management do?

    A: Managers typically function as the top supervisors in a specific department of an organization and carry out a variety of duties. Management directs and delegates tasks to employees, plans and organizes the scope of work for the department they oversee, and monitors the progress of assignments and projects. Managers also work as intermediaries between their reporting staff and the company's executive-level leadership.
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  • What is the purpose of management?

    Q: What is the purpose of management?

    A: The purpose of management is to plan, direct, organize and ensure the success of a business at various levels through a number of methods including customer satisfaction and employee training. Management, normally made of a manager and their assistants, is key to running an organization on what could be considered microscopic levels.
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  • How are officers installed?

    Q: How are officers installed?

    A: Officers of corporations are appointed by the directors sitting on the board. The directors decide how many officers to install and the role each officer performs for the company. There are no specific requirements for being a corporate officer. Officers can also serve as company shareholders or directors.
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  • What is the meaning of "professional standards"?

    Q: What is the meaning of "professional standards"?

    A: According to the International Organization for Standardization, professional standards are specifications designed to make a specific industry more efficient and effective. The ISO 9000 for quality management is an example of a professional standard.
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  • What are disadvantages of a paper-based system?

    Q: What are disadvantages of a paper-based system?

    A: For most industries, a paper-based system is costly and insecure. Paper-based systems for managing documents and information is expensive because the company must allocate financial resources for both the cost of the materials and the labor power of managing them, including printing, collating and filing costs. This could mean employing additional workers who require salaries and benefits.
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  • What does the "scope" of a business mean?

    Q: What does the "scope" of a business mean?

    A: The scope of any business involves every activity performed by that business including sales, services, product developments, marketing and contracts. Basically, business scope refers to all daily operations of the business, particularly those activities required to secure revenue.
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  • What is meant by direct and indirect supervision?

    Q: What is meant by direct and indirect supervision?

    A: Direct supervision means that an authority figure is within close proximity to his or her subjects. Indirect supervision means that an authority figure is present but possibly not seen or heard.
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  • Why is production planning important?

    Q: Why is production planning important?

    A: Production planning ensures materials, equipment and employees are all available to meet production goals for a business. It also provides a detailed plan on how a company will reach its production goals and how long it will take to achieve it, which can be useful for letting customers how long it will take before they can expect their orders.
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  • What is the role of the managing director?

    Q: What is the role of the managing director?

    A: A managing director coordinates the activities for a specific organization. He also keeps business goals and objectives in mind and makes sure employees are all on board with those goals and objectives. In other words, he controls resources and expenditures.
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