UNIT A LEADERSHIP AND SUPERVISION 2.00 Understand the Management Process

UNIT A LEADERSHIP AND SUPERVISION 2.03 Understand the relationship between company objectives and the management process.

The concepts of company mission statements, objectives, and strategies Mission statement: A statement of the purpose and direction for the business that answers the questions who, what, when, where, and why related to the business operations.

The concepts of company mission statements, objectives, and strategies Goals/Objectives: Specific statements that clearly communicate what the business expects to achieve.

The concepts of company mission statements, objectives, and strategies Strategies: Specific statements indicating how the business expects to accomplish its objectives taking the demands of the target market(s) into account.

Company goals/objectives Established to fulfill the mission statement Must be: single-minded, realistic, specific, measurable, consistent with each other and with overall company goals must include a time frame for completion

Company goals/objectives (cont.) Types of objectives Sales Profit Image Internal

Company goals/objectives (cont.) Types of objectives SALES Growth Stability Market share

Company goals/objectives (cont.) Types of objectives PROFIT Rate of profit as a percent of sales Profit as rate of return on investment for shareholders

Company goals/objectives (cont.) Types of objectives IMAGE Customer satisfaction Supplier satisfaction

Company goals/objectives (cont.) Types of objectives INTERNAL Employee relations Employee development

Company objectives (cont.) Typical time frames for completion Daily Short term – completion expected to take less than a year Medium term – completion expected in one to five years Long term – expected to require over five years to accomplish

Thursday, February 11th Unit A2 - Management Process Obj. 2.03 – Slide Show – Notes Review for Unit A2 Test Individual Review - Quia Earn $3,000,000 Win Battleship at Easy, Medium and hard levels Challenge Board Group Review Clickers UNIT A2 TEST on FRIDAY!!!

Strategies Identify target markets Identify appropriate marketing mix choices Utilize information obtained during SWOT analysis

Communicate mission statements, company goals/objectives, & strategies Information should be communicated to everyone involved in achieving objectives. Management Employees Customers Suppliers All specific and necessary information should be included. All employees should understand the objectives and their roles in accomplishing those objectives.

Review company goals/objectives and strategies Adjust objectives and strategies as necessary. Arrange for periodic reviews to measure progress. Audit: A systematic review to compare work performed with procedures and policies established by management. Auditor: A person who is qualified and authorized to examine and verify an organization’s financial records and reports.

Steps in implementing an audit Select auditor Determine frequency for audit Develop audit forms Identify department(s) to be audited Conduct audit(s) Report results to management

Friday, February 12th Unit A2 – Leadership & Supervision Unit A2 Test – Quia Current Event Unit B3 – Vocabulary – Write terms and definitions (turn in) Undercover Boss Examples of Leadership Examples of Management

www.driveofyourlife.org PLAN B Go to the Website: Register yourself. Go thru the program – getting your car and answering questions about your interests and career. Once you get your car complete – take a tour to review your possible career choices.