Key Functions: General Management, Administration, and Financial (Grade 10 NSC Matric Business Studies): Flashcards
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General management function's role in business
General management function's role in business
Coordinates all functions; central nervous system of business
Three levels of management
Three levels of management
Top (CEOs/directors), Middle (dept mgrs), Lower (supervisors)
Five essential management tasks
Five essential management tasks
Planning, Organising, Leading, Controlling, Risk Management
Top management's time horizon & focus
Top management's time horizon & focus
Years ahead; big-picture thinking; long-term strategic decisions
Middle management's unique position
Middle management's unique position
Vital link between top management and lower-level employees
Lower level management's alternative name
Lower level management's alternative name
First management level
Administration function's main role
Administration function's main role
Information hub; collects, processes & distributes information
Data vs Information
Data vs Information
Data: raw/unprocessed facts; Information: processed useful data
Financial function's purpose
Financial function's purpose
Acquisition and utilisation of funds for business operations
Fixed capital vs Working capital
Fixed capital vs Working capital
Fixed: long-term assets; Working: day-to-day operations