MGMT 1000 Study Guide - Final Guide: Organic Cotton, Cash Flow, Loop Jump
Document Summary
Title of presentation: the inevitable building blocks of managing. Financials (taken from nms: week 5 tutorial, financial literacy) Break even: when costs/expenses = revenue, to reduce breakeven point: Reduce fixed costs (ex. negotiate rent, or control telephone bills) Reduce variable costs (ex. find a new supplier) Do the calculations to create a summary of your projected cash flow. Employees and consumers will be of different cultures, religions, and backgrounds. There will also be diversity in employee"s skills, products, management styles, etc. Remember that in a knowledge economy, it is important to learn how to learn. Use the double loop learning method and ensure that you expand on your skills. The best way to help your colleagues (and yourself) expand on skills is to give and receive feedback after every task. Remember: (taken from nms tutorial week 12: diagnosing performance problems. Use a drill down approach to problem diagnosis. Ask questions, and play the role of the friendly investigator.
