Topic 1 managment

• Company Classification by Size


  • Small Businesses
  • Medium-Sized Businesses
  • Large Businesses
• Small Businesses


  • Typically have fewer than 50 employees, family-owned businesses or startups, with limited budgets and a focus on local or regional markets
• Medium-Sized Businesses


  • Employ between 50 and 250 people, greater financial capacity than small businesses, allows them to explore new markets and enhance their technology
• Large Businesses


  • Employ more than 250 people and have significant revenue, operate on a national or international level and often have multiple branches or divisions
• Company Classification by Legal Structure


  • Sole Proprietorships
  • Limited Partnerships (LP)
  • Corporations (Corp.)
  • Cooperatives
• Sole Proprietorships


  Owned by one individual who is personally liable for the business's debts
• Limited Partnerships (LP)


  Partners have limited liability which is limited to their investment in the partnership
• Corporations (Corp.)


  The capital is divided into shares, which are freely sellable and transferable, with shareholders not personally liable for corporate debts
• Cooperatives


  These entities allow workers or users to be their own bosses or customers, sharing the profits and responsibilities of management
• Company Classification by Scope of Activity


  • Local
  • National
  • International
• Local


  Operate within a specific community or city, such as a local bakery or bookstore
• National


  Have operations throughout the country, such as supermarket chains or banks with branches in various cities
• International


  Conduct business activities in multiple countries, like large multinationals that have factories, offices, or stores in different parts of the world
• Resource Planning


  • Analysis and Forecasting
  • Budgeting
• Analysis and Forecasting


  • Businesses need to identify and forecast their short and long-term resource needs, including conducting demand analysis, assessing economic cycles, and anticipating market changes
• Budgeting


  Involves the allocation of financial resources, companies must effectively budget their expenses to avoid exceeding costs and ensure financial resources are available for critical areas
• Resource Optimization


  • Operational Efficiency
  • Technology and Innovation
• Operational Efficiency


  Implementation of methodologies like Lean, Six Sigma, or Kaizen to improve operational efficiency, reduce waste, and enhance the quality of products or services
• Technology and Innovation


  Investing in advanced technology that can optimize resource use, such as Enterprise Resource Planning (ERP) software, Customer Relationship Management (CRM) systems, and automation platforms
• Human Resource Management


  • Training and Development
  • Performance Evaluation
• Training and Development


  Investing in the professional and personal development of employees to enhance their skills and increase productivity
• Performance Evaluation


  Evaluation systems to measure the effectiveness of employees and teams, helping to identify areas for improvement and promote personal and professional growth
• Financial Resource Management


  • Financial Control
  • Financing Sources
• Financial Control


  Constant monitoring of income and expenditure flows to ensure the financial health of the company
• Financing Sources


  Identification of various financing sources, such as loans, credits, investors, and opportunities for reinvestment of profits to foster growth and expansion
• Material Resource Management


  • Inventory
  • Supply Chain
• Inventory


  Effective inventory management systems to ensure that material resources are available when needed, without incurring excess storage costs
• Supply Chain


  Optimization of the supply chain to improve efficiency, reduce costs, and enhance product or service delivery
• Technological Resource Management


  • Security and Technological Updating
  • Adoption of New Technologies
• Security and Technological Updating


  Maintaining technological infrastructure to ensure its optimal operation and data security
• Adoption of New Technologies


  Staying informed about technological innovations that can provide competitive advantages, such as artificial intelligence, big data, and cloud computing
• Resource Sustainability


  • Sustainable Practices
  • Social Responsibility
• Sustainable Practices


  Implementation of practices that minimize environmental impact and promote the sustainable use of natural and material resources
• Social Responsibility


  Ensuring that resource management also considers social impact and contributes positively to the community and society at large
• Functional areas of a company


  • General Management
  • Administration and Finance
  • Human Resources
  • Operations and Production
  • Marketing and Sales
  • Research and Development (R&D)
  • Information Technology (IT)
  • Customer Service
  • Legal
• General Management


  • Main Functions: Establishing the vision and mission of the company, defining corporate strategy, making key decisions, and managing relationships with stakeholders and shareholders
  • Key Skills: Leadership, strategic decision-making, long-term vision, and communication skills
  • Impact on the Company: Determines the strategic direction and long-term success of the organization
• Administration and Finance


  • Main Functions: Financial planning, risk management, accounting and financial reporting, internal auditing, and investment management
  • Key Skills: Financial analysis, risk management, precision in handling figures, and regulatory compliance
  • Impact on the Company: Ensures financial viability and supports business operations through efficient financial management
• Human Resources


  • Main Functions: Recruitment and selection, training and development, compensation and benefits administration, labor relations, and performance evaluation
  • Key Skills: Communication, empathy, negotiation skills, and conflict management
  • Impact on the Company: Develops and maintains a competent and motivated workforce, crucial for organizational performance
• Operations and Production


  • Main Functions: Supply chain management, quality control, production planning, and equipment maintenance
  • Key Skills: Operations management, process control, and analytical skills
  • Impact on the Company: Optimizes production and operations to maximize efficiency and product/service quality
• Marketing and Sales


  • Main Functions: Marketing strategy, market research, brand management, promotion, sales, and customer relationship management
  • Key Skills: Creativity, communication skills, data analysis, and persuasion
  • Impact on the Company: Generates revenue and positions the company in the market, attracting and retaining customers