Business Management

4. Owners of a company. They provide the capital that allows the company to operate.
5. A management skill required when plans encounter unforeseen problems.
9. External environmental factors that could present problems for a business.
10. The economic, social and environmental performance of a business.
12. Achieving maximum output with minimum inputs.
14. A structure of management with a long chain of command.
16. Anticipating changes in the business environment and making decisions to ensure a business can take advantage of the changes.
17. Set targets to work towards. They must be specific, measurable, achievable, realistic and timed.

1. The ability to see into the future and envisage what the business will look like.
2. Managers often have to come up with solutions to reconcile the conflicting interests of who?
3. Acquiring different skills, usually through training.
6. This skill of management involves a broad range of activities that are directed at finding a solution.
7. A skill which allows managers to communicate with different people effectively
8. The ability to see the business as a whole and develop a long-term plan.
11. External environmental factors that a business could take advantage of.
13. Driving an action using incentives.
15. This type of manager dominates the decision making process and is not very democratic.