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The planning process 1. Outline the Objective 2. Analyse the Environment 3. Develop & Evaluate Alternatives 4. Implement an Alternative 5. Monitor & Review SWOT – used to analyse Strengths – inside the organisation Weaknesses – inside the organisation Opportunities – outside the organisation Threats – outside the organisation The organising process 1. Determining the Tasks 2. Classifying and Grouping Tasks 3. Assigning Work and Delegating Authority Procedures 1. Identify an Issue or Problem 2. Research & Analyse Environments 3. Consult Stakeholders 4. Develop a Draft Policy for Review by Stakeholders 5. Revise the Policy 6. Approve & Distribute the new Policy 7. Monitor & Evaluate the new Policy Management Control Autocratic Persuasive Consultative Participative Lassez-Faire Problem Solving 1. Identify the Problem and Causes 2. Gather Revelant Information 3. Develop Alternate Solutions 4. Analyse the Aternatives 5. Choose one Alternative and Implement it 6. Evaluate the Solution Master Production Schedule 1. Quantity of each item 2. Type of each item 3. How production takes place 4. When production takes place 5. Where production takes place 6. Labour required Maslow’s Need Hierarchy 1. Self Actualistation 2. Self Esteem 3. Belonging 4. Safety 5. Physiological Negotiating Agreements Aware of awards and national employment standards Table relevant information Consult widely Keep an open mind Remember the ‘big picture’ Exercise care Lodge the agreement Kotter’s Theory of Change Management 1. Establish necessity 2. Establish a guiding group 3. Create a vision 4. Communicate the vision 5. Empower people 6. Recognise & reward 7. Consolidate improvements 8. Institutionalise the change Hertzberg’s Two Factor Theory Some things stop people becoming dissatisfied (Environment) and other things motivate people (Motivators) Environment - extrinsic to the worker Motivator - intrinsic to the worker Locke’s Goal Setting Theory Set Goals Feedback Motivation Improve Performance Employment Cycle Maintaining Terminating Establishing HR Planning How many workers are needed? What qualifications & skills are needed? When and where workers are needed? Job Description is a written statement of tasks, duties and responsibilities. Job Specification is a list of key qualifications, skills and expertise required for a job. Job Analysis is a systematic study of each employee’s studies, tasks and work environment. Job Design What tasks? Who, how and when performed? The Selection Process Short list applications Tests Interviews Background Checks Select (better) candidate Remuneration Package Wage Salary Benefits Salary Sacrifice Benefits of Training To the Worker: Opportunities – promotion & self improvement Satisfaction – performing tasks better

VCE Business Management Exam Study Points

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A set of brief notes of areas to study before you take your final Unit's 3 and 4 VCE Business Management Exam.

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Page 1: VCE Business Management Exam Study Points

The planning process1. Outline the Objective2. Analyse the Environment3. Develop & Evaluate Alternatives4. Implement an Alternative5. Monitor & Review

SWOT – used to analyseStrengths – inside the organisationWeaknesses – inside the organisationOpportunities – outside the organisationThreats – outside the organisation

The organising process1. Determining the Tasks2. Classifying and Grouping Tasks3. Assigning Work and Delegating Authority

Procedures1. Identify an Issue or Problem2. Research & Analyse Environments3. Consult Stakeholders4. Develop a Draft Policy for Review by Stakeholders5. Revise the Policy6. Approve & Distribute the new Policy7. Monitor & Evaluate the new Policy

Management ControlAutocraticPersuasiveConsultativeParticipativeLassez-Faire

Problem Solving1. Identify the Problem and Causes2. Gather Revelant Information3. Develop Alternate Solutions4. Analyse the Aternatives5. Choose one Alternative and Implement it6. Evaluate the Solution

Master Production Schedule1. Quantity of each item2. Type of each item3. How production takes place4. When production takes place5. Where production takes place6. Labour required

Maslow’s Need Hierarchy1. Self Actualistation2. Self Esteem3. Belonging4. Safety5. Physiological

Negotiating AgreementsAware of awards and national employment standardsTable relevant informationConsult widely

Keep an open mindRemember the ‘big picture’Exercise careLodge the agreement

Kotter’s Theory of Change Management1. Establish necessity2. Establish a guiding group3. Create a vision4. Communicate the vision5. Empower people6. Recognise & reward7. Consolidate improvements8. Institutionalise the change

Hertzberg’s Two Factor TheorySome things stop people becoming dissatisfied (Environment) and other things motivate people (Motivators)Environment - extrinsic to the workerMotivator - intrinsic to the worker

Locke’s Goal Setting TheorySet GoalsFeedbackMotivationImprove Performance

Employment CycleMaintainingTerminatingEstablishing

HR PlanningHow many workers are needed?What qualifications & skills are needed?When and where workers are needed?

Job Description is a written statement of tasks, duties and responsibilities.Job Specification is a list of key qualifications, skills and expertise required for a job.Job Analysis is a systematic study of each employee’s studies, tasks and work environment.

Job DesignWhat tasks?Who, how and when performed?

The Selection ProcessShort list applicationsTestsInterviewsBackground ChecksSelect (better) candidate

Remuneration PackageWageSalaryBenefitsSalary Sacrifice

Benefits of TrainingTo the Worker:

Opportunities – promotion & self improvementSatisfaction – performing tasks betterChallenge – learning new thingsAdaptable – able to adapt to changeTo the Organisation:Improve work qualityIncreases work productivityBetter able to initiate and cope with changeAchieve objective more easilyReduce costs

TrainingJob Rotation moving around the organisationMentoring using another person as a ‘coach’ for guidance and supportFormal Training undertaking specific management training such as an MBA (Masters in Business Administration)

Rewards & RecognitionMotivationEquitableClearDefensibleConsistentRelevantCost EffectiveIntegrated with Objectives

Performance AppraisalProvide feedback to workersA measure for promotion, pay rises etc.Helps the organisation monitor its workersIdentify training & development needsIdentify new objectives & plan future performance

Centralised SystemThe government controlled the system and all wages & conditions were the same for all workers in the same areas of work.

Decentralised SystemIndividual organisations control their own system and decide the pay and conditions (above the legal standards) for their own employees.

AwardsIn the past contained the terms and conditions of employments which applied to particular industries.Today are a set of 10 minimum agreements that apply where no enterprise agreement has been reached.