Download ACCA F1 Accountant in Business Key Study Text by Emile Woolf Publishing Limited PDF

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By Emile Woolf Publishing Limited

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They have an entrepreneurial role, and take initiatives. - They have a role in resolving conflicts and disputes, and other similar problems. - They decide how resources should be used, for example what the available money should be spent on and how employees should use their time (what work they should do). - They negotiate with others, and reach decisions through joint agreement. Example You have recently been appointed to a management position in your organisation, a chain of hotels. You have been appointed as the manager of one of the hotels.

Planning, for example, is done on a day-to-day basis, when time permits between more urgent or immediate tasks. „ Managers spend some of their time on routine duties of a ceremonial nature, such as meeting with important visitors. „ Managers prefer informal verbal communication to formal written communications, such as reports and briefing notes. Communicating informally by word of mouth is much faster and more effective than communication through the formal information system. „ Management activities and decisions are based largely on judgement and intuition.

Span of control widens. 3 be de- Authority and responsibility Authority and delegation Authority is the ability to give orders or guidance to others, and to expect the orders to be obeyed or the guidance to be followed. In formal organisations, managers are given authority to make decisions relating to a certain area of the organisation’s activities. Authority is delegated from top management. In a traditional bureaucracy, authority is delegated down the management hierarchy or line of command (the scalar chain).

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