Summary Grade 12: General Management and Corporate Governance

General
Management
and Corporate
Governance

, General Management & CG
General management
- Looks for probortunities: takes problems & forms opportunities

Entrepreneurship & Intrapreneurship
- Entrepreneur:
Combines three factors of production (capital, labour & raw material)
Sees opportunity and assumes risk (personal risk)
Operates at top management level
- Intrapreneur:
"Inside entrepreneur"
Works within the business
Uses entrepreneurial qualities
Operates in various departments

Entrepreneurial qualities, characteristics & skills
- skills which can be learned and developed
- identify an opportunity
- understand the target market
- scan the environments to identify opportunities
- be willing to develop/change the business plan
- an opportunist
- Hard work = commitment and perseverance
- Creativity and innovation
- Prepare and implement plan
- Obtain and coordinate resources
- Convince and motivate
- Evaluate achievements
- Quick decisions about opp. as they arise
- Communicate clearly and implement strategies
- Is personally motivated

Entrepreneurial qualities, characteristics & skills
- Manger - Leader
Appointed in a position of authority which enables Has the expertise to make people aware of the
them to insist on people doing as they instruct advantages pf pursuing a certain course of action,
Maintains systems thereby creating a desire in people to follow them to
Focuses on systems & structure achieve a common goal
Relies on control Develops new methods to do things
Accepts the status quo Focuses on the people
Inspires trust
Challenges the status quo