TABLE OF CONTENTS INTRODUCTION UNDERSTANDING THE FAMILY BUSINESS What is a Family Business? Issues in the Family Business Who Are the Actors? BALANCING FAMILY AND BUSINESS GOALS Business Strategic Planning Family Strategic Planning The Family Retreat CHOOSING A SUCCESSOR Initiation Selection Education Transition Letting Go Board of Directors Making Succession Work Summary ESTATE PLANNING Transfer Tax Deferral Techniques Transfer Tax Exclusion Techniques SUMMARY
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Business management Lecturer: Dr.B.NDLOVU PhD Lecture One Objectives Definitions of Management Levels of management Functions of management Percentage time spent on functional activities The 10 roles of managers Managerial skills/ competencies required at different managerial levels DEFINITION OF MANAGEMENT WHAT IS MANAGEMENT? Management The process of coordinating work activities so that they are completed efficiently and effectively with and through other people Elements
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SEMESTER 1 (MM 100) PRINCIPLES AND PRACTICES OF MANAGEMENT SECTION A: OBJECTIVE TYPE (30 MARKS) Part One: Multiple Choices: 1. A plan is a trap laid to capture the _____ Answer: a. future 2. It is the function of employing suitable person for the enterprise Answer: b. Staffing 3. _________ means “group of activities and employees into departments” Answer: d. Departmentation 4. This theory states that authority is the power that is accepted by others Answer: a. Acceptance Theory
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The classical approach looks more towards getting the job done. Developed through the Industrial Revolution‚ the classical approach to management originated from having to deal with any complications that arose in the new factories. They were using this method to establish the most efficient way of completing the tasks that were set in front of them. The classical approach was used to tell workers how to do their job in a way that gets the most amount of work done. In retrospect‚ the modern day
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Maricris P. Cruzpe AB Communication Communication Values and Ethics TARES TEST: FIVE PRINCIPLES FOR ETHICAL PERSUASIONS Persuasion is defined as methods used to influence attitudes‚ raise awareness‚ educate or influence behaviors’. While ethics (moral philosophy) is a subject that primarily is not concerned with increased profits or increased visibility. It is‚ rather‚ concerned with what one ought to do—or ought not to do. Thus‚ it’s easy to persuade others but it will be tough when
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In 1911‚ Frederick Taylor’s work‚ The Principles of Scientific Management was published. In his work‚ Taylor provided a demonstration of how the application of scientific principles to management could significantly increase the efficiency of an organization by spurring productivity among its workers (Evans & Holmes 2013‚ p. 7). The scientific method of operation involved simplifying tasks and optimizing their execution in a manner that encouraged specialization since the task was done in the best
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Profits With no Cash University Dr. Sep 10‚ 2014 Profits With no Cash It is regularly a common thing in business to make profits without having any cash due to several aspects of business. This is happening by the non-cash flow adjustments that are recorded as transactions while no cash flows are involved. It is possible to make business transactions without cash involvement. In credit transactions‚ cash is not usually transacted but the transactions are usually recorded therefore if
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Accuracy and precision both relate to the quality of a measure. However‚ the terms have separate meanings and should not be applied as an alternate for the other. The meaning of accuracy is the extent to which a given measurement agrees with the standard value for that measurement. The meaning of precision is the degree to which the correctness of a quantity is articulated. The difference between accuracy and precision is like playing a game of darts. There can have several outcomes by shooting three
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Question 1 Highlight the production management philosophy and principles of TOC The Theory of Constraints is a management philosophy introduced by Dr. E Goldratt through his book ‘The Goal’ (1992 2nd Ed.). The Theory of Constraints (TOC) focuses‚ through scientific principles‚ on the resources of an organisation by improving the performance of the constraint that directly affects the production methods of a specific company. It is an approach which seeks to solve constraints and problems
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Cash Connection Payday Loans Strategy‚ Ethics and Forces 1. What is Cash Connections strategy? * Differentiate itself from competitors to gain the largest piece of the $40 billion dollars of paid lending that the United States industry has to offer‚ while adhering to government restrictions and meeting customer’s needs. Reference: Thompson‚ Peteraf‚ Gamble‚ and Strickland. P. (2010). Crafting and Executing Strategy: The Quest For Competitive Advantage Concepts and Cases (18th ed
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