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HIGHER CERTIFICATE IN BUSINESS MANAGEMENT FUNDAMENTALS OF BUSINESS MANAGEMENT As a business owner, you need to be knowledgeable about the elements of the microenvironment and how each of these will impact your business and its potential growth and de

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HIGHER CERTIFICATE IN BUSINESS MANAGEMENT FUNDAMENTALS OF BUSINESS MANAGEMENT As a business owner, you need to be knowledgeable about the elements of the microenvironment and how each of these will impact your business and its potential growth and development as these directly affect your business’s operations. 1.1 Discuss each of the following areas of the macroenvironment, looking at how they affect your business’s daily operations and the impact they will have on your business expanding into other areas. (20 marks) • Technological environment (4 marks); • Economic environment; (4 marks); • Social environment; (4 marks); • Physical environment; and (4 marks); and • Political-institutional environment (4 marks). 1.2 Consider how investing in corporate social investment (CSI) initiatives can support your expansion plans through the creation of value and by shaping your business’s public image positively, especially in areas where your businesses operate. (5 marks) As a business owner, having a structured framework to help improve productivity, enhance decision making and increase employee collaboration beyond your on disposition is vital for growth. Having proven strategies (theoretical frameworks) to help guide your planning, organising and to motivate your employees is substantial in developing an efficient, sturdier and adaptable work environment. Select and research three management theories that would be most applicable and effective in running your type of business, and in ensuring a successful transition in your expansion plans. Provide relevant examples for each theory to highlight its advantage. (25 marks) Understanding management theories, their effectiveness and application in your business will support your decisions in defining roles, identifying skills that would be essential and in optimising your business’s organisational structures to support performance. 3.1 Select any five key managerial roles that are most relevant to expansion planning for your type of business. (15 marks) 3.2 Explain the key managerial roles’ effectiveness in supporting your plans for expansion. (5 marks) 3.3 Identify the intelligence type that would be most practical for each managerial role in order to be performed successfully. (5 marks) As a business owner, understanding managerial roles is essential for establishing objectives for growth and development, and successful expansion planning in that roles that are clearly defined will provide clarity and an essential structure of accountability to support and advance growth initiatives. Discuss the feasibility of your expansion plan and its objectives using the planning process. (25 marks)

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Educating the world for a better change

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WARNING: PLEASE NOTE THAT PLAGIARISM IS A SERIOUS ACADEMIC
OFFENSE, therefore, the documents provided here including past assignments, tests
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CAUTION: STUDENTS ARE NOT MANDATED TO USE ALL THE INFORMATION IN
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Educating the world for a better change

, Elite Academic Institute 068 053 513 262 1185


Table of Contents
SECTION 1 – INTRODUCTION TO BUSINESS MANAGEMENT ............................. 4

1.1 Discussion of the Macroenvironment ................................................................... 4

1.2 The Value of Corporate Social Investment (CSI).................................................. 6

SECTION 2 – THE EVOLUTION OF MANAGEMENT ............................................... 7

2.1 The Systems Approach ........................................................................................ 7

2.2 Contingency Theory ............................................................................................. 8

2.3 Administrative Theory (Management Process Theory) ........................................ 8

Conclusion ................................................................................................................. 9

SECTION 3 – MANAGEMENT LEVELS, ROLES AND SKILLS ................................ 9

3.1 Five Key Managerial Roles Relevant to Expansion Planning ............................. 10

3.2 Effectiveness of These Roles in Supporting Expansion ..................................... 11

3.3 Intelligence Types Required for Each Managerial Role...................................... 11

Conclusion ............................................................................................................... 12

SECTION 4 – PRESCRIBED MANAGEMENT FUNCTION: PLANNING ................. 12

Reference List .......................................................................................................... 16




Educating the world for a better change

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