Entrepreneurship

Managing & Management

Mushtak Al-Atabi

Outline

Func.ons of Management (P-O-D-C)

Planning
Vision, Mission, Values, Strategy
Organising
Direc.ng
Controlling

Func6ons of Management
P-O-D-C
Management is social technology aimed at
eec.vely and eciently achieving the business
objec.ves
Management is tasked with ensuring the
business sustainability
Management is about ecient use of resources
Management ensures that work is done
according to the guidelines, rules and regula.ons

Planning
A basic management func.on
Iden.fying relevant business goals
Course of ac.on to achieving the goals
SMART goals
Forecas.ng the market and customer needs as
well as other elements in the Entrepreneurship
Eco System
Decision Making
Developing Business Plans

S.M.A.R.T Goals

Specic
Measurable
APainable
Realis.c
Timely

Specic Goals

Who is involved
What needs to be accomplished
Where will it take place
When will it happen
How will it be achieved
Examples
Get into shape- General
Join a gym and work out 3 .mes a week for a
minimum of 1 hour at a .me- Specic

Measurable Goals
What is the metric for measuring the goal
How to know when the goal is achieved?
Examples
Increase Sales- not measurable
Increase Sales by 10% compared to last year-
measurable

ADainable Goals
Build skills, capabili.es and a[tudes that
make the goals aPainable
Goals have to be able to mo.vate people to
work towards them

Realis6c Goals
Acknowledges environmental and physical
limita.ons

Timely Goals
Have clear .me frame

Planning
Strategic Planning
Long Term (more than 3 years)
Bigger Picture
Existen.al, philosophical

Tac.cal Planning
Short Term (less than 3 years)
Survival of the business

Strategic Planning
Vision: What the organisa.on (or business)
wants to be or how it wants the world to be
Mission: The purpose of the existence of the
organisa.on (or business)
Core Values: The culture and beliefs that
governs how business is conducted
Strategy: Roadmap of achieving the Vision and
Mission

Vision & Mission Statements-

Examples
An organisa.on that wishes to eradicate
illiteracy
Vision: A world without illiteracy
Mission: Providing educa.onal opportuni.es to
children who are outside the school system

A tourism company
Vision: No 1 tour company in East Malaysia
Mission: Providing aordable unforgePable tours

A rule of thumb
A Mission Statement can be craaed by
combining the main Value Proposi.on with
its major measure of success
A Vision Statement can be craaed by
imagining the organisa.on and/or the world
when the Mission is accomplished

Organising
Developing the Organisa.onal Chart
Orchestra.ng resources (physical, human,
nancial) in order to achieve the business
goals
Individual Job Descrip.on
Departments, authori.es, ac.vi.es and roles
Rela.onships between dierent units and
departments

Direc6ng

Empowering individuals to achieve their best

Enabling team dynamics to ourish
Leadership
Coordina.on
Communica.on
Mo.va.on

Controlling
Developing performance standards and key
performance indicators
Measures results against planned targets
Verifying execu.on standards against norms,
laws and regula.ons
Taking correc.ve ac.ons

Management

Planning
ICT
Financial
HR
Facili.es
Produc.on

Organising

Direc6ng

Controlling

HR Management
Human Resources (HR) planning
Recruitment, selec.on, induc.on and
placement
Compensa.ons and Benets
Training and Development
Performance Management