Vision, Mission & Business Plan Revision. Corporate Vision may contain commitment to: -creating an _____________ value for ______________ and other stakeholders.

Vision, Mission & Business Plan

Revision

Corporate Vision may contain commitment to:

- creating an _____________ value for ______________ and other stakeholders

- developing a great new product or _____________

- developing a great company

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

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.

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.

Business Plan

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

Business PlanA 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 service Standard order, but 4 Customer profile 4 - 9 may appear in

different 5 Competition positions 6 Competitive advantage 7 Management team 8 Implementation plan 9 Financial analysis10 Appendix or Appendices → Vocabulary 1 & 2

???

“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.”

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

“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

“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

Hw check, RB p 31III 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 12 What is management?

What is management?Scan the text and match paragraphs and headings

Number the paragraphs and match with headingsA Top management functionsB Developing peopleC Motivating and communicatingD Why is management important?E PlanningF Nature or nurture? Or both?G Measuring performanceH The five functions of managers according to P. DruckerI OrganizingAre all headings on the same level?Read the whole text carefully, getting help with words you

don’t know. → Vocabulary, p 13

Management:

• Top / senior /upper management

• Middle management

• Lower management

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

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

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

Managers plan, organize, integrate, measure & develop (P. Drucker, 1977)

• RESPONSIBILITIES AND AUTHORITY

• DELEGATION OF RESPONSIBILITIES

• ORGANIZATIONAL UNITS

→ MK, p 20 1b

People involved in corporate structure

• shareholders

• management

• workforce

Workforce:

employees /staff / personnel / human resources / labour

senior staff ≠ junior staffhigher-positioned ≠ lower-positionedsuperiors ≠ subordinates

Mary is Kate’s superior. Kate is Mary’s subordinate.

→ 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

Vocabulary focus:

DIVISION OF RESPONSIBLITIES

What are you responsible for?

What are you in charge of?

What are your responsibilities?

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?

• 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 organizationLine positions Staff position

(Assistant Manager) (Assistant to the Manager)

DELEGATION

Are responsibilities delegated?

Centralised decision-making

vs.

Decentralised decision-making

ORGANIZATIONAL UNITS

The company consists 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…

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

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

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!)