Mergers and Acquisitions
Essay by Ntt1695 • February 16, 2016 • Essay • 2,358 Words (10 Pages) • 881 Views
READING REVIEW.
Unit 1: The three sectors of the economy
- An economic sector is a certain type of business activity within an economy.
- There are 3 sectors of the economy:
+ The Primary sector: agriculture, the extraction of raw materials from the earth.
+ The Secondary sector: manufacturing, transforming, processing,...
+ The Tertiary sector: commercial services: financing, retailing, distributing,
education, health care, leisure, tourism,...
- The key point is that most people admit the amazing complexity of the economic infrastructure.
Unit 2: Management
- Is the mixture of innate qualities and learnable skills and techniques.
- Is an action of getting people together to accomplish goals and objectives.
- Five actions of a manager:
Planning – Organizing – Staffing – Directing – Controlling
+ Planning (Seting objectives): developing strategies, plans, precise tactics, allocating resources of people and money.
+ Organizing: Analysing and classifying the activities, dividing work into manageable organization and then into individual jobs.
+ Staffing: Putting the right employees into the right positions, right duties, right jobs and supervising the workd of their subordinates.
+ Directing: Measuring the performance of their staffs so that the works can be achieved.
+ Controlling: Managing their works and subordinates’ works to check if they are being done correctly and developing people, themselves and the staffs.
- Three necessary skills:
Organizational skill – Technical skill – Interpersonal skill
- Responsibilities of a top manager:
+ Consider the need of the future / Set objectives.
+ Take responsibilties for innovation.
+ Manage a business’s relations with customers, suppliers, distributors, bankers, investors, neighboring communities, public authorities, and so on, as well as deal with any major crises which arise.
Unit 3: Company structure
- Traditional structure: Line, Line – staff, Functional.
- Divisional: Products (Big company divides it into several parts due to their productions), Market (Areas controlling), Geographic (Different regions).
- Functional organization has two standards criticisms:
+ People are usually more concerned with the success of their department than that of the company, so there are permament battles between departments.
+ Separating functions is unlikely to encourage innovation.
- Matrix management: in which people report to more than one supervisor.
Unit 4: Work and motivation
- Differences between Theory X and Theory Y:
+ Theory X:
_ People are lazy and dislike work .
_ They have to be both threatened and rewarded .
_ People are incapable of taking responsibility for themselves and have to be looked after.
+ Theory Y:
_People have psychological need to work and want to achievement and responsibility.
- A Hierachy of human needs:
Physiological needs – Safety needs – Social needs – Esteem needs - Self actualization
- Two – factor theory:
+ Hygiene factor: relationship, job secutiry, work condition, salary.
+ Motivation: autonomy, achivement, recognition, responsibility, authority.
Unit 5: Management and cultural diversity
Behavior
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- Different culture + Different ethnicity => Cross Cultural Issues ( Attitude Misunderstanding Conflicts[pic 1]
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Language
- The concept of Glocalization:
+ Invented from Globalization and Localization.
+ Be aware of local culture habits.
+ Beliefs and principles in each country or market.
Unit 6: Recruitment
-Indentify vacancy –> Job analysis –> Advertise the job –> Short – listed –> Interview decision maker
- Interview preparation:
+ Have breakfast
+ Get directions, map.
+ Dress for a job interview.
+ Create list of skill, qualification.
+ Rehearse.
+ Research.
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