Business Management: A contemporary Approach 3e - Chapter 1 - What is Business Management? 

A Contemporary Approach


Available
    Edition: 3rd edition
  • Format: eChapter
  • ISBN: 9781485129882-001
  • Language(s): English
  • Extent: 464 pages
  • Published:
  • Category: Business Management

R58.50



No business exists in a vacuum – it is impacted on by a constantly evolving world which presents new challenges and opportunities every day. To cope with these, a business should be proactive and adaptive, not just at an operational level, but at a functional and strategic level as well. Business Management: A Contemporary Approach focuses specifically on the functions of the business organisation and how to respond to changes in the micro- and macro-environment, and in the market. 

The third edition of Business Management: A Contemporary Approach includes new features and updated content, such as:

  • New case studies applying theory to practical situations
  • Experiential exercises and multiple-choice questions
  • Up-to-date theory on the functions of the business organisation
  • In-depth analysis of the relevant issues of corporate citizenship, globalisation and international trade.

·         Chapter 1: What is Business Management?

o    Introduction

o    The scientific framework of business management

o    Factors of production: methods to satisfy people’s multiple needs

o    Entrepreneurship and business

o    The business management cycle

o    The business environments

o    The internal and external environments

o    The micro-environment

o    The market environment

o    The macro-environment

o    The value-chain approach 

·         Chapter 2: General Management

o    Introduction

o    Definition of management 

o    Managerial skills

o    Managerial levels

o    Areas of management

o    Creative problem solving, decision making and information management

o    Management functions (tasks)

o    Interaction of general management with other business functions

 

·         Chapter 3: Financial Management

o    Introduction

o    The core principles of financial management

o    Value-chain analysis for growth and profitability

o    Analysis of the organisation to determine value adding

o    Financial planning (long- and short-term financing)

o    Financial statements

o    Financing organisation needs

o    Financial decisions

o    Financial management and other organisation functions 

·         Chapter 4: Credit Management

o    Introduction: The background development of credit

o    The credit management function

o    Credit management in practice 

·         Chapter 5: Corporate Citizenship

o    Introduction

o    Conceptual background

o    The business case for corporate citizenship

o    Corporate citizenship architecture 

·         Chapter 6: Information Management

o    Introduction

o    The role of information management and the information manager within a business

o    Information systems

o    Communicating information

o    Communication format 

·         Chapter 7: Public Relations

o    Introduction

o    Definition of public relations

o    The role of public relations

o    Affiliation

o    What are publics?

o    Corporate image of a business

o    Objectives of public relations

o    The requirements of successful public relations

o    The role of communication in public relations

o    The public relations process

o    Instruments of public relations

o    Media for conveying public relations messages

o    Interaction between the public relations and other business functions 

·         Chapter 8: Operations Management

o    Introduction

o    Operations management is dynamic

o    Operations management defined

o    OM performance objectives

o    Productivity is central to OM

o    Macro-productivity

o    Micro-productivity

o    Operations strategy and operations design

o    Operations planning and control

o    Operations improvement

o    Operations and the other functions of the business 

·         Chapter 9: Trends and Changes in Internationalisation

o    Introduction

o    The fourth industrial revolution creating the perfect storm for globalisation

o    Internationalisation

o    Business in an international context

o    Internationalisation in a business context

o    Theories on international trade

o    The question is who to trade with

o    Trade blocs and alliances

o    How can we promote internationalisation?

o    The impact of internationalisation

o    Developing a global business strategy

o    Future trends in internationalisation 

·         Chapter 10: Marketing Management

o    Introduction

o    The marketing landscape

o    Consumer behaviour

o    Marketing research

o    Market segmentation and target marketing

o    The marketing mix

o    Product life cycle

o    Marketing control and implementation

o    Relationship between the marketing function and the other business functions 

·         Chapter 11: Human Resource Management

o    Introduction

o    Definitions and scope of human resource management

o    Human resource management in the business context

o    Implementing HR: the HR functional value chain

o    Human resource delivery platform

o    Interaction between human resource management and other business functions 

·         Chapter 12: Purchasing Management in Supply Chain Management

o    Introduction

o    The concepts of supply chain management and purchasing

o    Suppliers – the most important responsibility of purchasing

o    The formation and management of strategic supplier alliances

This book will equip readers with a general understanding of the different internal functions of the business organisation and the interrelationships between and among these functions. The readers will also be equipped with the necessary competencies (knowledge, skills and values) to perform the tasks and roles of a manager in any functional area of a business.

This title starts with introducing the field of business management, followed by general management principles applicable to any business manager. The book goes on to cover the various functions of the business organisation: financial management; information management; credit management; marketing management; operations management; public relations; human resource management; and purchasing management in supply chain management. It also covers contemporary issues like corporate citizenship and trends and changes in internationalisation.

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No business exists in a vacuum – it is impacted on by a constantly evolving world which presents new challenges and opportunities every day. To cope with these, a business should be proactive and adaptive, not just at an operational level, but at a functional and strategic level as well. Business Management: A Contemporary Approach focuses specifically on the functions of the business organisation and how to respond to changes in the micro- and macro-environment, and in the market. 

The third edition of Business Management: A Contemporary Approach includes new features and updated content, such as:

  • New case studies applying theory to practical situations
  • Experiential exercises and multiple-choice questions
  • Up-to-date theory on the functions of the business organisation
  • In-depth analysis of the relevant issues of corporate citizenship, globalisation and international trade.

·         Chapter 1: What is Business Management?

o    Introduction

o    The scientific framework of business management

o    Factors of production: methods to satisfy people’s multiple needs

o    Entrepreneurship and business

o    The business management cycle

o    The business environments

o    The internal and external environments

o    The micro-environment

o    The market environment

o    The macro-environment

o    The value-chain approach 

·         Chapter 2: General Management

o    Introduction

o    Definition of management 

o    Managerial skills

o    Managerial levels

o    Areas of management

o    Creative problem solving, decision making and information management

o    Management functions (tasks)

o    Interaction of general management with other business functions

 

·         Chapter 3: Financial Management

o    Introduction

o    The core principles of financial management

o    Value-chain analysis for growth and profitability

o    Analysis of the organisation to determine value adding

o    Financial planning (long- and short-term financing)

o    Financial statements

o    Financing organisation needs

o    Financial decisions

o    Financial management and other organisation functions 

·         Chapter 4: Credit Management

o    Introduction: The background development of credit

o    The credit management function

o    Credit management in practice 

·         Chapter 5: Corporate Citizenship

o    Introduction

o    Conceptual background

o    The business case for corporate citizenship

o    Corporate citizenship architecture 

·         Chapter 6: Information Management

o    Introduction

o    The role of information management and the information manager within a business

o    Information systems

o    Communicating information

o    Communication format 

·         Chapter 7: Public Relations

o    Introduction

o    Definition of public relations

o    The role of public relations

o    Affiliation

o    What are publics?

o    Corporate image of a business

o    Objectives of public relations

o    The requirements of successful public relations

o    The role of communication in public relations

o    The public relations process

o    Instruments of public relations

o    Media for conveying public relations messages

o    Interaction between the public relations and other business functions 

·         Chapter 8: Operations Management

o    Introduction

o    Operations management is dynamic

o    Operations management defined

o    OM performance objectives

o    Productivity is central to OM

o    Macro-productivity

o    Micro-productivity

o    Operations strategy and operations design

o    Operations planning and control

o    Operations improvement

o    Operations and the other functions of the business 

·         Chapter 9: Trends and Changes in Internationalisation

o    Introduction

o    The fourth industrial revolution creating the perfect storm for globalisation

o    Internationalisation

o    Business in an international context

o    Internationalisation in a business context

o    Theories on international trade

o    The question is who to trade with

o    Trade blocs and alliances

o    How can we promote internationalisation?

o    The impact of internationalisation

o    Developing a global business strategy

o    Future trends in internationalisation 

·         Chapter 10: Marketing Management

o    Introduction

o    The marketing landscape

o    Consumer behaviour

o    Marketing research

o    Market segmentation and target marketing

o    The marketing mix

o    Product life cycle

o    Marketing control and implementation

o    Relationship between the marketing function and the other business functions 

·         Chapter 11: Human Resource Management

o    Introduction

o    Definitions and scope of human resource management

o    Human resource management in the business context

o    Implementing HR: the HR functional value chain

o    Human resource delivery platform

o    Interaction between human resource management and other business functions 

·         Chapter 12: Purchasing Management in Supply Chain Management

o    Introduction

o    The concepts of supply chain management and purchasing

o    Suppliers – the most important responsibility of purchasing

o    The formation and management of strategic supplier alliances

This book will equip readers with a general understanding of the different internal functions of the business organisation and the interrelationships between and among these functions. The readers will also be equipped with the necessary competencies (knowledge, skills and values) to perform the tasks and roles of a manager in any functional area of a business.

This title starts with introducing the field of business management, followed by general management principles applicable to any business manager. The book goes on to cover the various functions of the business organisation: financial management; information management; credit management; marketing management; operations management; public relations; human resource management; and purchasing management in supply chain management. It also covers contemporary issues like corporate citizenship and trends and changes in internationalisation.

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