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Discuss how management activities can help Ruth improve the performance of the business - Leaving Cert Business - Question A - 2006
Question A
Discuss how management activities can help Ruth improve the performance of the business. Ruth Cavanagh became Managing Director of Stylish Décor Ltd., a retail and ... show full transcript
Worked Solution & Example Answer:Discuss how management activities can help Ruth improve the performance of the business - Leaving Cert Business - Question A - 2006
Step 1
Planning
Answer
Ruth's management activities would begin with planning, where she would establish clear organizational goals. This includes developing a mission statement focused on becoming a market leader. The goal to penetrate the market by further increasing market share and turnover by fifty percent in the next five years demonstrates a need for strategic and tactical planning.
Step 2
Organising
Answer
To implement her plans effectively, Ruth needs to organize her staff and resources. She should consider creating a line organization structure, clearly assigning roles and responsibilities in areas such as purchasing and sales/marketing. This helps to ensure that all activities are coordinated, which is critical for achieving her business objectives.
Step 3
Controlling
Answer
Ruth must also focus on controlling the performance of her business. This involves measuring actual performance against planned performance and making necessary adjustments. She can implement systems for quality control, stock management, and budgetary control to monitor various aspects of the business functionality. By establishing metrics, she can track improvements in customer service and product quality.
Step 4
Staff Development
Answer
Implementing a retraining program for existing staff will enhance their skills and adapt them to the new organizational goals. Focus on expertise in areas such as customer service, stock management, and financial oversight is essential for refining operations and meeting the business objectives.