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Unit 3 POC

planning, Organising & Controlling

TermDefinition
SWOT Analysis Strengths, Weaknesses, Opportunities, Threats
SMART Plans Specific, Measurable, Agreed, Realistic, Timed
Mission Statement Overall aim & purpose
Objectives What must be undertaken to achieve its mission
Strategic Planning Long term, sets out priorities eg increase market share, enter export market
Tactical Planning Short term, specific, drawn up by middle management eg increase sales by 10%
Operational Planning Short term, day-to-day, supervisors, retraining of staff
Contingency Planning Back-up plan, to cover unforeseen events eg breakdown in production
Co-ordination process of synchronising activities of workers & departments to achieve objectives
Formal Organisational Structures identifies levels of authority, chain of command, communication channels
Organisational Chart shows layers of management, areas of responsibility, chain of command and span of control.
Chain of Command Way authority is organised, how power & control is passed down
Span of Control Number of people reporting to supervisor or manager; number of subordinates to whom manager can delegate
Terms of Reference Matters that a report covers targets
Functional Structure Organisation arranged through the main functions e.g. marketing Dept, Finance Dept, Sales Dept
Width of span of control Depends on manager's ability, nature of work, employees' abilities
Line Manager/Authority in line relationships i.e. production manager has authority over production staff
Staff manager managers carry out specialist functions within other departments
Product Structure Organisation based each product business produces rather than on departments
Matrix Structure suitable for projects or product development, combination of functional and product structures
Staffing selecting right employees to fill vacancies within the organisation
Controlling measuring actual performance against desired performance/standard
Principles of Control setting standard, measuring performance, comparison, corrective action.
Stock Control ensuring right amount of stock at right price at right time
JIT Just in time management - Japanese method of stock control designed to minimise costs, stock arrives as it is needed
Quality Control Maintaining consistent levels of quality; prevents defects, control costs, & customers are satisfied
Quality Standards External standards which are recognised throughout industry and world e.g. Excellence Ireland Q Mark, NSAI. ISO 9000
Credit Control monitoring & collecting money owed to a business, involves checking credit worthiness, prompt issue of invoices
Budgetary Controls Comparing performance with targets
Created by: MsBradyBusiness
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