Management Archives - PersonalFinanceLab

Cost Accounting

Kevin Smith — Tue, 26 Dec 2017 21:02:47 +0000

One area of accounting is cost accounting, which focuses on internal reporting for the purpose of improving managerial decision making. Key concepts include cost allocation, cost-volume-profit and the role of a double break-even!

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Leading vs Directing

Jinni Raisa Alingasa — Wed, 02 Aug 2017 17:23:50 +0000

Leading and directing are important management functions, but usually do not appear in the main job description. A great manager needs to be able to both lead their team and direct their operations - failing either of these roles is a recipe for disaster!

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Social Responsibility in Management

Jinni Raisa Alingasa — Tue, 25 Jul 2017 20:36:25 +0000

Social Responsibility means managers are accountable to society at large, not just their shareholders. This is becoming an increasingly important pillar of management theory in the 21st century, as both the public and investors are expecting certain levels of social accountability.

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Internal Risk Management

Nimrod Komen — Tue, 25 Jul 2017 18:35:23 +0000

Risk Management is when a manager tries to organize his company (or business unit) to prepare in case of, and try to prevent, something going wrong. Risk management is one of the most important parts of management and internal controls

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Importance of Planning and Vision

Jinni Raisa Alingasa — Mon, 17 Jul 2017 18:22:20 +0000

Planning plays a crucial part in creating a business plan and strategic plan in that it reinforces a company’s mission, visions, and goals that are used to develop and implement strategy, competitive advantage, and achieve effectiveness and efficiency in how a business operates.

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Human Resource Planning

Carla Spoto — Wed, 05 Jul 2017 21:00:13 +0000

The Human Resources (HR) department at a business is in charge of everything from hiring and firing employees, organizing and implementing training programs, resolving internal conflicts, determining the pay scales, and everything in between. Managers work with their HR departments to fill vacancies and resolve conflicts - both of which can require careful planning

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Business Ethics

Jinni Raisa Alingasa — Wed, 05 Jul 2017 20:51:50 +0000

"Business Ethics" defines what is right and wrong in a business - not necessarily what is or is not illegal. It is the responsibility of everyone in any organization to maintain high levels of business ethics, as businesses who fail to do so lose the public trust, and the ability to continue to do business, very quickly.

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Management Theory

Carla Spoto — Mon, 22 May 2017 20:51:47 +0000

When holding a job, there are usually certain people that have specific “titles” that describe the work that they do. With those titles, comes the chain of command, which can be looked at as a flow chart: The CEO –> who oversees Management –> who oversees Associates. While the chain of command is fairly straightforward, the middle part, or Management, has many different ways of functioning.

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Short Term and Long Term Financing

Dominick D'Andrea — Mon, 08 May 2017 19:47:14 +0000

Swipe a credit card, take out a loan, or issue bonds? Different types of debt mean very different things for a business - and the choice of how to finance big purchases makes a huge impact on cash flow

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Competitive Advantage in Business

Samira Mahzabeen — Wed, 12 Apr 2017 15:42:38 +0000

“Slow and Steady” does not always win the race. The business world is very fast paced, competitive, and often ruthless world where the one who stays ahead of the game is more likely to emerge victorious. “Competitive Advantage” is what businesses have that puts them ahead of the competition.

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