Ontario Grade 12 BOH4M Business Leadership: Management Fundamentals (Grade 12, University/College Preparation)
Chapters: 5
1. Marketing for Success in the Retail and Service Sectors
1 Customer Service · 2 Personal Selling · 3 Career Search Strategies and Employment Opportunities
- Demand, Supply and Market Equilibrium – The law of demand says buyers want less when the price rises; the law of supply says sellers offer more. The market price settles at equilibrium, where quantity demanded equals quantity supplied, and shifts in demand or supply move it. Some goods break the usual laws (Giffen, Veblen, panic buying). A price ceiling set below equilibrium causes shortages. Markets can also fail, for example with pollution or public goods like street lights, so the government steps in.
- Career Planning: From Knowing Yourself to Your First Job – Career planning has five steps. 1) Know yourself: interests, skills and values. 2) Explore career families and find out the work, study needed, pay and demand. 3) Plan a pathway with SMART goals and a plan B. 4) Search for jobs with a CV, cover letter, digital portfolio and interview practice. 5) Make the move from school to work and keep learning, because careers change over a lifetime.
2. Foundations of Management
1 Management Fundamentals · 2 Business Communication · 3 Issues of Ethics and Social Responsibility
- Nature and Significance of Management – Management means getting work done with and through people so that goals are reached on time (effectiveness) and at low cost (efficiency). It has organisational, social and personal objectives. It is partly a science, fully an art and not yet a full profession. It works at three levels (top, middle, lower) through five functions (planning, organising, staffing, directing, controlling), and coordination joins them all.
- Leadership and Management: Leading People, Teams and Change – Management gets work done through planning, organising, staffing, directing and controlling. Leadership inspires people to work towards a shared goal. Leaders choose a style that fits the people and the task, build qualities like communication and integrity, guide teams through their stages, plan projects with schedules, delegate well, and help people accept change.
- Social Responsibility of Business – Social responsibility means a business should make decisions that are good for society, not only for its own profit, and go beyond what the law demands. There are strong reasons for it, such as long-term self-interest and public image. A business has duties towards owners, investors, consumers, employees, government and the community, and it must protect the environment from pollution.
3. Leading
1 Human Behaviour · 2 Group Dynamics · 3 Leadership Techniques
- Human Behaviour at Work: Personality, Attitudes and Job Satisfaction – Managers lead people, so they must understand people. Personality is a person's steady pattern of thinking, feeling and acting; it is shaped by heredity, environment and situation. The Big Five traits (openness, conscientiousness, extraversion, agreeableness, neuroticism) describe it. Attitudes are judgements with three parts: affect, behaviour and cognition. Job satisfaction is a positive attitude to one's job and grows when the job fits the person. Personality tests can help in hiring and teamwork, but only as one clue, used fairly and privately.
- Groups: How They Form and How They Change Us – A group is two or more people who interact, share a goal, follow norms and feel 'we'. People join groups for security, status, self-esteem, needs and goals. Groups grow through stages: forming, storming, norming, performing, adjourning. Their structure has roles, norms, status and cohesiveness. Types: primary/secondary, formal/informal, in-group/out-group. Groups also change our behaviour: in social loafing each person tries less in a shared task; in group polarisation the group's view becomes more extreme after discussion.
- Directing: Guiding People to Do Their Best – Directing is the management job of guiding, telling, motivating and leading people at work. It has four elements: supervision, motivation, leadership and communication. Maslow shows that needs come in five levels. Incentives can be financial or non-financial. Leaders can be autocratic, democratic or free-rein. Communication can be formal or informal, and barriers can be removed with simple remedies.
4. Management Challenges
1 The Communication Process in the Workplace · 2 Stress and Conflict Management · 3 Motivation
- Directing: Guiding People to Do Their Best – Directing is the management job of guiding, telling, motivating and leading people at work. It has four elements: supervision, motivation, leadership and communication. Maslow shows that needs come in five levels. Incentives can be financial or non-financial. Leaders can be autocratic, democratic or free-rein. Communication can be formal or informal, and barriers can be removed with simple remedies.
- Stress: Nature, Sources and Effects on Health – Stress is the pattern of body and mind responses to events that disturb our balance and seem to exceed our ability to cope. Events that cause stress are stressors. Stress can be helpful (eustress) or harmful (distress). Lazarus showed that stress depends on appraisal: is it a threat, and can I cope? Stress can be physical and environmental, psychological (frustration, conflict, inner and social pressure) or social. Its sources include major life events, daily hassles and traumatic events. It affects emotions, body, thinking and behaviour, and long-term stress can lead to burnout. Selye's general adaptation syndrome has three stages: alarm, resistance and exhaustion. Long stress weakens the immune system. A healthy lifestyle protects against stress.
5. Planning and Controlling
1 The Importance of Planning · 2 Planning Tools and Techniques · 3 Strategic Planning · 4 The Management of Change · 5 Controlling
- Planning: Meaning, Process and Types of Plans – Planning means deciding in advance what to do, how, when and by whom. It is the first function of management. It gives direction and reduces risk, but it can be rigid and costly. It follows 7 steps, from setting objectives to follow-up. Plans are single-use (for one event) or standing (for repeated work), and come in 8 types: objectives, strategy, policy, procedure, method, rule, budget and programme.
- Strategic Planning: How Organisations Plan Their Future – Strategic planning is deciding where an organisation wants to be in the long run (3–5 years or more) and how it will get there. It starts with a vision and mission, scans the inside and outside (SWOT), sets SMART goals, chooses a strategy, puts it into action and checks results. Strategy works at three levels: corporate, business and functional. Strategic plans can aim at growth, stability or retrenchment. Corporate culture has a visible level and a hidden level of shared values, and the plan must fit it.
- Leadership and Management: Leading People, Teams and Change – Management gets work done through planning, organising, staffing, directing and controlling. Leadership inspires people to work towards a shared goal. Leaders choose a style that fits the people and the task, build qualities like communication and integrity, guide teams through their stages, plan projects with schedules, delegate well, and help people accept change.
- Controlling: Checking That Work Goes as Planned – Controlling is the management job of checking that actual work matches the plan. It compares actual results with standards, finds gaps (deviations) and fixes them. It helps reach goals, use resources well, keep discipline and raise morale. Planning and controlling depend on each other. The process has five steps: set standards, measure actual work, compare, analyse deviations and take corrective action.