nature of management • features of effective management • skills of management – interpersonal, communication, strategic thinking, vision, problem-solving, decision making, flexibility, adaptability to change, reconciling the conflicting interests of stakeholders • achieving business goals – profits, market share, growth, share price, social, environmental – achieving a mix of the above goals – staff involvement – innovation, motivation, mentoring, training management approaches • classical approach – management as planning, organising and controlling – hierarchical organisational structure – autocratic leadership style • behavioural approach – management as leading, motivating, communicating – teams – participative/democratic leadership style • contingency approach – adapting to changing circumstances management process • coordinating key business functions and resources • operations – goods and/or services – the production process – quality management • marketing – identification of the target market – marketing mix • finance – cash flow statement – income statement – balance sheet • human resources – recruitment – training – employment contracts – separation – voluntary/involuntary • ethical business behaviour management and change • responding to internal and external influences • managing change effectively – identifying the need for change o business information systems – setting achievable goals – resistance to change – management consultants