1. Vision, Mission & Business Plan Revision

2. Corporate Vision may contain commitment to: -creating an _____________ value for ______________ and other stakeholders -developing a great new product or _____________ -developing a great company

3. Corporate Vision may contain commitment to: -creating an outstanding value for consumers and other stakeholders -developing a great new product or service -developing a great company

4. At its most basic, the mission statement describes the overall __________ of the organization. When wording the mission statement, consider the organization’s ___________, services, ___________, values, and concern for ___________ image, and maybe priorities of activities for survival.

5. At its most basic, the mission statement describes the overall purpose of the organization. When wording the mission statement, consider the organization’s products, services, markets, values, and concern for public image, and maybe priorities of activities for survival.

6. Business Plan A written _______ stating a company’s _______ regarding sales, product development, f________ etc.

7. Business Plan A written report stating a company’s plans regarding sales, product development, financing. HW check, MK p 78 Reading + Vocabulary, p 79 1 Executive summary 2 Market opportunity 3 Product or serviceStandard order, but 4 Customer profile4 - 9 may appear in different 5 Competitionpositions 6 Competitive advantage 7 Management team 8 Implementation plan 9 Financial analysis 10 Appendix or Appendices→ Vocabulary 1 & 2

8. ??? “An activity or art where those who have not yet succeeded and those who have proved unsuccessful are led by those who have not yet failed.”

9. Management “An activity or art where those who have not yet succeeded and those who have proved unsuccessful are led by those who have not yet failed.” Paulsson Freckner, 1985

10. “If I had to sum up in a word what makes a good manager, I’d say __________. You can use the fanciest computers to gather the numbers, but in the end you have to set a timetable and act.” Lee Iacocca

11. “If I had to sum up in a word what makes a good manager, I’d say decisiveness. You can use the fanciest computers to gather the numbers, but in the end you have to set a timetable and act.” Lee Iacocca

12. Hw check, RB p 31 III intuitive, determined, ingenious, dynamic, dedicated (coll. driven, gutsy) Entrepreneurs vs. managers? – note form Effective management? - something you are born with? Reputation of managers in Croatia? → MK, p 12What is management?

13. What is management? Scan the text and match paragraphs and headings Number the paragraphs and match with headings A Top management functions B Developing people C Motivating and communicating D Why is management important? E Planning F Nature or nurture? Or both? G Measuring performance H The five functions of managers according to P. Drucker I Organizing Are all headings on the same level? Read the whole text carefully, getting help with words you don’t know.→ Vocabulary, p 13

14. Management: Top / senior /upper management Middle management Lower management

15. Top management a) accountable to the ______ of directors (app______, superv____, adv_____, _____ssed by them) b) responsibilities 1 - consider the needs of the future, innovate = change/___________ management 2 - manage relations with stakeholders 3 - deal with major crises = c_____ management

16. Top management a) accountable to the board of directors (appointed, supervised, advised, dismissed by them) b) responsibilities 1 - consider the needs of the future, innovate = change/ innovation management 2 - manage relations with stakeholders 3 - deal with major crises = crisis management

17. HW Case study, pp 13 & 14 – answer the question on p 14 in writing – hand in by next Thursday Print out and complete the exercises on management from my website

18. Managers plan, organize, integrate, measure & develop (P. Drucker, 1977) RESPONSIBILITIES AND AUTHORITY DELEGATION OF RESPONSIBILITIES ORGANIZATIONAL UNITS → MK, p 20 1b

19. People involved in corporate structure shareholders management workforce

20. Workforce: employees /staff / personnel / human resources / labour senior staff≠junior staff higher-positioned ≠ lower-positioned superiors≠subordinates Mary is Kate’s superior. Kate is Mary’s subordinate.

21. → 1C READ THE TEXT (MK, p 21-22) & MATCH HEADINGS TO PARAGRAPHS - STAFF POSITION –DISADVANTAGES OF THE FUNCTIONAL ORGANIZATION –HIERARCHICAL / LINE STRUCTURE –TEAMS –THE MATRIX STRUCTURE –AUTONOMOUS DIVISIONS / DECENTRALIZATION –SIMULATED DECENTRALIZATION –FUNCTIONAL ORGANIZATION HW: → Summarize the text! Use the grid in R, p. 35

22. Vocabulary focus: DIVISION OF RESPONSIBLITIES What are you responsible for? What are you in charge of? What are your responsibilities?

23. Chain of command and line authority Useful vocabulary: superiors & subordinates Who is your superior? Who do you report to? Who are you responsible to? Who are you accountable to? Who are you subordinated to? Who do you receive instructions from?

24. Who can appoint you? promote remove dismiss Who reports to you? Who is accountable to you? Who do you give instructions? –Line organization vs. Staff organization Line positions Staff position (Assistant Manager) (Assistant to the Manager)

25. DELEGATION Are responsibilities delegated? Centralised decision-making vs. Decentralised decision-making

26. ORGANIZATIONAL UNITS The companyconsists of… is composed of… is divided into… is made up of… contains... includes … …departments (function-based: production dept.), divisions (product/market-based: Food division, Asian division), sectors, sections, business units, arms…

27. COMPANY DEPARTMENTS PRODUCTION CUSTOMER SERVICE ADVERTISING LEGAL ACCOUNTS PERSONNEL (HR) MARKETING FINANCE PUBLIC RELATIONS (PR) RESEARCH & DEVELOPMENT (R&D) MAINTENANCE DISTRIBUTION QUALITY CONTROL INFORMATION TECHNOLOGY (IT) etc. …deals with …is in charge of …is responsible for

28. WHICH COMPANY DEPARTMENT IS IN CHARGE OF…? money paid, received, borrowed, or owed promoting, selling and distributing products or services of its company discovering new knowledge about products, to create new and improved products recruiting new staff & administrative aspects of the employees legal advice to other departments in the company actual construction and preparation of products

29. HW Don’t forget to summarize the text on company structures using the grid (R, p 35) Work on your business plan. Include information on your company management and staff, as well as on the structure of your company (no need to submit it in this phase, just do it!)