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Lecture notes Small Business Management (SMB)

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Small Business Management (SBM) notes typically cover essential concepts, theories, and practices for managing and operating a small business. Here's an in-depth overview of the topics commonly covered: *Unit 1: Introduction to Small Business Management* 1. Definition and characteristics of small businesses 2. Importance of small businesses in the economy 3. Types of small businesses (sole proprietorship, partnership, corporation) 4. Entrepreneurship and entrepreneurial mindset *Unit 2: Business Planning* 1. Business plan definition and purpose 2. Components of a business plan (executive summary, company description, market analysis, etc.) 3. Market research and analysis 4. Financial planning and projections (revenue, expenses, break-even analysis) *Unit 3: Organizational Management* 1. Business structure (functional, divisional, matrix) 2. Human resource management (recruitment, selection, training) 3. Leadership styles and theories (trait, behavioral, contingency) 4. Communication and interpersonal skills *Unit 4: Marketing Management* 1. Marketing mix (4Ps: product, price, promotion, place) 2. Market segmentation and targeting 3. Branding and positioning 4. Digital marketing (social media, email, SEO) *Unit 5: Financial Management* 1. Financial statements (income statement, balance sheet, cash flow) 2. Financial ratios and analysis (liquidity, profitability, efficiency) 3. Budgeting and forecasting 4. Funding options (loans, grants, investors) *Unit 6: Operations Management* 1. Production and service management 2. Supply chain management 3. Inventory control and logistics 4. Quality management and control *Unit 7: Management Information Systems* 1. Types of information systems (transaction processing, management information) 2. Database management systems 3. Software applications (accounting, customer relationship management) 4. E-commerce and digital payments *Unit 8: Ethics and Social Responsibility* 1. Business ethics and principles 2. Corporate social responsibility 3. Sustainability and environmental responsibility 4. Business governance and compliance

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Uploaded on
October 2, 2024
Number of pages
3
Written in
2024/2025
Type
Class notes
Professor(s)
Nxumisa gwintsa
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All classes

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Advanced Management Communication

Advanced Diploma

Communication and crisis Communication



1. Introduction
Crisis management is a critical organizational function. Failure to attend to it can result in
serious harm to stakeholders, losses for an organization, or end its very existence. Crisis
communication can be defined broadly as the collection, processing, and dissemination
of information required to address a crisis situation. Crisis communication is an
emerging field in applied communication studies and involves dealing with mediated messages
and various types of audiences at moments of heightened pressure. Ethical questions are
important considerations when a crisis occurs.

What is a crisis?. Crisis communication refers to the dissemination of information by
an organization to address a crisis that impacts customers and/or the
organization's reputation.

Crisis communication includes the collection and processing of information for
crisis team decision making along with the creation and dissemination of crisis
messages. Post-crisis communication involves assessing the crisis management effort and
providing follow-up crisis messages as needed. The organization needs to release updates on
the recovery process, corrective actions, and/or investigations of the crisis.

In essence, a business crisis is any event that has the potential to threaten the success and
health of a company by tarnishing its reputation, damaging its business
operations, negatively impacting its finances, or harming its employees. Put simply,
a business crisis is any event that threatens your organization’s success and safety.

2. Role of communication in a crisis

Communication can make or break your organization’s ability to overcome a crisis. As future
managers, as I always say in our classes, you will have a legal and ethical duty to communicate
with your employees during a crisis should it impact their safety or well-being. And if you do
not communicate, guess what will happen, rumours and all guessing will start..moreover,
employees expect to know what is happening in real-time. And if you don’t communicate what
is happening to your employees, they will likely turn to social media or speak with their
colleagues to figure out what is going on—meaning your organization lost control of the
narrative.

3. Crisis communication plan

A crisis communication plan is a set of guidelines used to prepare a business for an
emergency or unexpected event. These plans include steps to take when a crisis first
emerges, how to communicate with the public, and how to prevent the issue from occurring
again. Crisis communication plans focus on the company's response and how it will
communicate a crisis with its stakeholders. These steps ensure information reaches


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