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Contenido
T-1 MANAGEMENT ...................................................................................................................2 Levels of management and decisin making:.........................................................................2 Structure and concept: ..........................................................................................................2 Vision, mision and goals: .......................................................................................................2 Functions of management:....................................................................................................2 7 Ps of management: ...........................................................................................................3 Efficiency and effectiveness ..................................................................................................4 T-2 ORGANIZATIONAL STRUCTURE............................................................................................5 Major structural aspects .......................................................................................................5 Financial and economic structure ..........................................................................................6 Concept and elements of the organizational structure ..........................................................7
Functions of management:
Functions: Planning (what, how, with what) *1 Organizing (structure the company) Managing HHRR (leader and achieve the correct behavior to reach the goals) *2 Controlling (verify that the behavior of the company remains on the limits fixed, take corrective measures) *3 2
Planning includes: Plan in the short run (tactic planification) Plan in the short run (strategic planification) Study internal and external scenario (swot) - quantify the various forecasts Study and evaluate alternatives Develop plans - Budgeting
*2 -
*3 -
Controlling: Is to measure and compare the results with goals Identify deviations if any (analyze the reason for deviation and look for solutions
7 Ps of management:
Prediction Planning Politics Programming Processes Budgeting Controlling 3
Balance Sheet
Working capital formula: Current assets Current liabilities Working capital is money available to a company for day-to-day operations WC is a financial metric which represents operating liquidity available to a business Net WC is a derivation of WC (also C. assets C. Liabilities) Could the NWC be negative? When or Why? What does this means for the company? A shop for example Has a working capital deficit A company can be endowed with assets and profitability but short of liquidity if its assets cannot readily be converted into cash Positive WC is required to ensure that a firm is able to continue its operations and that it has sufficient funds to satisfy both maturing short-term debt and uncoming operational expenses The management of WC involves managing inventories, accounts receivable and payable and cash