A group of 6 decided to form an SME in operating as a Facility Management Services. Each of the six members contributed a capital of $60,000 and took a bank loan of $400,000. Since the Group has little experience in management. You are tasked with deciding how you will manage the organization effectively and efficiently.

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
icon
Related questions
Question
A group of 6 decided to form an SME in operating as a Facility Management Services. Each of the six members contributed a capital of $60,000 and took a bank loan of $400,000. Since the Group has little experience in management. You are tasked with deciding how you will manage the organization effectively and efficiently.
Expert Solution
Step 1

Chiefs must employ a diverse set of skills in order to be successful in planning, putting together, driving, and controlling.  Administrative talents are divided into three categories: specialized, human, and managerial. Relationships, as well as calculated abilities The amount of time each type of knowledge is used is proportional to the administrator's rank. Furthermore, in an increasingly global commercial center, it pays for executives to have a unique set of skills to deal with global management difficulties. Specified abilities.

A manager's technical talents are made up of specific subject subjects, expertise, and the ability to apply that information. Setting up a financial summary, programming a computer, establishing a company location, and dissecting statistical surveys are all examples of specialist skills. These skills are especially important for administrative directors since they interact closely with people who supply the firm's goods or perhaps administrations. Skills in Human Relations.

steps

Step by step

Solved in 4 steps

Blurred answer
Similar questions
Recommended textbooks for you
Understanding Business
Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education
Management (14th Edition)
Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract…
Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning
Management Information Systems: Managing The Digi…
Management Information Systems: Managing The Digi…
Management
ISBN:
9780135191798
Author:
Kenneth C. Laudon, Jane P. Laudon
Publisher:
PEARSON
Business Essentials (12th Edition) (What's New in…
Business Essentials (12th Edition) (What's New in…
Management
ISBN:
9780134728391
Author:
Ronald J. Ebert, Ricky W. Griffin
Publisher:
PEARSON
Fundamentals of Management (10th Edition)
Fundamentals of Management (10th Edition)
Management
ISBN:
9780134237473
Author:
Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:
PEARSON