Management Cheat Sheet

MANAGEMENT CHEAT SHEET: THE MOST IMPORTANT DEFINITIONS FOR EACH OF THE BRANCHES COST MANAGEMENT It covers full life cycle of projects from It employs tools from competitive strategy initial planning up to actual cost and economics in analyzing the industryIt is a method of reducing production or performance to project completion. context in which a company operates. Itoperating expenses to give less It is the process of controlling and includes analysis of strategic groups ofexpensive services or products to planning the costs included in a competitors, Porter’s 5 forces, value chainconsumers. business. It considered as one of the analysis and much more. Cost management is a process challenging tasks in business Marketing management often conductsmanagement that uses in analyzing its management. marketing research and market research inproduction as well as its streamline to Cost management is being employed by performing marketing analysis. keep costs low and manage expenses in numerous businesses as essential part ofthe future.  business management. Marketing management according toCost management is the managerial Cost management is considered a form Philip Kotler:accounting focus helping a firm forecast of accounting management that helps infuture expenditures in reaching their identifying future expenditures in certain It is the process of executing and planningbudget goals. business in reducing budget overages.  the pricing, conception and distribution andCost management is divided in 3 main promotion of services, ideas and goods inphases: implementation, planning and MARKETING MANAGEMENT creating exchanges with certain groups infinal analysis. satisfying organizational and customerCost management basic concept is to It is concerned with chalking out a definite objectives.gather details about current operations, program after forecasting and carefulanalyzing it and evaluating results.  analysis of market situations and execution Marketing management according toIt is concerned with planning process as of plans in achieving the organization American Marketing Association:well as budget controlling of a business objectives.or project. It includes activities like Marketing management is the tracking, It is the process of planning as well asestimating, planning, financing, application and review of the company executing the pricing, conception,budgeting, managing, funding and marketing activities and resources.  distribution and promotion of goods, servicescontrolling costs in order for a project Marketing management is the developing and ideas in satisfying organizational andto be completed within approved strategies process as well as planning for individual objectives.budget. services, product, promotions, advertising and sales in reaching desired customer Marketing management according to segment. Cundiff and Still: Marketing management is a branch area of management. It is concerned with purposeful activities for the attainment of marketing goals. 

MANAGEMENT CHEAT SHEET: THE MOST IMPORTANT DEFINITIONS FOR EACH OF THE BRANCHESStrategic management is about STRATEGIC MANAGEMENT It involves identifying how organizationdescription and identification of stacks up compared to their competitors asstrategies that managers should do to Strategic management is a continuous well as recognizing threats andachieve a great performance as well as process about controlling and opportunities facing an organization,competitive advantage. evaluating industries and business in whether come from competitors or withinIt can also be defined as bundle of acts which an organization is being involved. the organization.and decisions, which a person It evaluates the competitors and their It is the implementation and formulation ofundertakes and which decides the firm’s sets strategies and goals in meeting all major goals as well as initiatives taken byperformance result.  potential and existing competitors. It organization top management on behalf ofStrategic management is a planning for also reevaluates strategies on regular owners that is based on resourcespredictable and unfeasible basis in determining how it will be consideration and assessment of externalcontingencies. It is being applicable to implemented and whether it is and internal environments.small and large organizations as well as successful or need replacement. Strategic managements gives overallsmallest organizations facing Strategic management provides broader direction to enterprise and involvescompetition. perspective to organization employees organization’s objectives, developing plansIt is a way where strategists set their so that they can better understand how and policies that is designed to achieveobjectives as well as proceed on how to their job fits to organizational plan and objectives and allocating resources inattain them. It deals with how it is being co-related to other implementing the plans.implementation and making decisions organizational members.  It involves process of analyzing cross-about organization future direction. It Strategic management is a management functional business decisions. It typicallyhelps in identifying where an of the resources of organization to involves analyzing external and internalorganization should move. achieve certain objectives and goals. It weaknesses and strengths; formulatingStrategic management is a continuous involves analyzing competitive action plans; evaluating to what degreeplanning, assessment and analysis of all environment, setting objectives, action plans been successful as well asneeded for an organization in meeting analyzing internal organization, making changed when the desired resultstheir objectives and goals.   ensuring management will perform their are not produced, and are executing action strategies across the organization and plans. evaluating strategies.

MANAGEMENT CHEAT SHEET: THE MOST IMPORTANT DEFINITIONS FOR EACH OF THE BRANCHESFINANCIAL MARKETFinancial market is a market in which Referencesindividuals trade financial commodities,securities and value at a reasonable http://www.costmanagement.eu/blog-article/198-cost-management-explained-in-transaction costs and at prices 4-stepsreflecting demand and supply. https://www.techopedia.com/definition/13878/cost-managementFinancial market is where traders sell https://www.slideshare.net/gadekar1986/introduction-to-marketing-management-and buy assets. It includes bonds, 12816131stocks, foreign exchange, derivatives http://www.yourarticlelibrary.com/marketing/marketing-management-meaning-and commodities. It is where companies and-importance-of-marketing-management-explained/25885reduce risks and for investors to make http://www.businessdictionary.com/definition/marketing-management.htmlmoney.  https://en.wikipedia.org/wiki/Marketing_managementFinancial market makes an open and https://www.managementstudyguide.com/strategic-management.htmregulated system for many companies to https://www.investopedia.com/terms/s/strategic-management.aspget large capital. It is being done https://en.wikipedia.org/wiki/Strategic_managementthrough bond markets and stock.  http://searchcio.techtarget.com/definition/strategic-managementFinancial market is a place where sellers https://en.wikipedia.org/wiki/Financial_marketand buyers meet in exchanging services https://www.thebalance.com/an-introduction-to-the-financial-markets-3306233and goods at prices determined by http://www.investinganswers.com/financial-dictionary/stock-market/financial-forces of supply and demand. market-5045It can also be a physical location orvirtual one over network. Financial market facilitates transactionsbetween sellers and buyers andbetween consumers and producers.