Subject: HELE

Topic: HOUSING & MANAGING THE HOME EFFECTIVELY

Date: December 6, 2020
Student: HAZEL MARIE D. ABELLA

ACTIVITY 5

1. What is the importance of Home Management?

- Home management is all about looking after your home and family. It's a

way to ensure everything is getting done and the general maintenance of
the home and family is taken care off. The upkeep of a home can determine your
home’s value as well as prevent expensive emergency repairs. In addition, it
offers you the resources needed when inspiration strikes and gives you the one
thing you can’t buy – time.

Home management is the process of properly maintaining a home and property

and overseeing necessary household activities. Much like operating a business,
managing a home requires skills such as planning, organizing, budgeting and
directing. Effective home management is important for maintaining the condition
of the property and the overall financial health of the family that resides there.

2. What is effective home management?

- The definition of home management is the process of effectively running

a household. An example of home management is when you hire someone to
oversee the maid, gardener and other staff and to pay bills and clean
your home for you.
Decisions in all these steps are made to achieve the family goals.
1. Planning: Planning is the most important step in management
process. ...
2. Organizing: ...
3. Controlling: ...
4. Evaluation:

3. How will you apply home management in your home?

- CLEANING CHECKLIST/SIMPLE HOME MANAGEMENT ROUTINE

1. Making beds.
2. Doing one load of laundry.
3. Wiping down surfaces after use.
4. Handling paper/mail as it comes in.
5. Putting clothes and shoes away after use/or at the end of the day.
6. Handling clutter immediately.
7. Emptying the dishwasher in the AM.
8. Cleaning the kitchen after supper.
 4. Cite the 4 steps in Home management.

- What are the 4 basic management functions?

4 basic functions of management process are; Planning and decision making.
Organizing. Leading.

 Planning and Decision Making – Determining Courses of Action.

 Organizing – Coordinating Activities and Resources.
 Leading – Managing, Motivating and Directing People.
 Controlling – Monitoring and Evaluating activities.

5. What are the benefits of home management?

- Staying Organized
Effective home management helps you keep things organized around
the house. You'll be able to keep track of household items and you won't have
to rush around looking for your keys or clothing in the morning while preparing to
go to work.

Subject: HELE
Topic: PLANNING, ORGANIZING & MANAGING ENTERPRISE
Date: January 7, 2020
Student: HAZEL MARIE D. ABELLA

1. Enumerate/Explain the different theories in management tasks.

Show the proper ways of managing business finances.

What are Management Theories?

Management theories are concepts surrounding recommended management

strategies, which may include tools such as frameworks and guidelines that can
be implemented in modern organizations. Generally, professionals will not rely
solely on one management theory alone, but instead, introduce several concepts
from different management theories that best suit their workforce and company
culture.

1. Scientific Management Theory

American mechanical engineer Frederick Taylor, who was one of the earliest

management theorists, pioneered the scientific management theory. He and his
associates were among the first individuals to study work performance
scientifically. Taylor’s philosophy emphasized the fact that forcing people to work
hard wasn’t the best way to optimize results. Instead, Taylor recommended
simplifying tasks so as to increase productivity.

The strategy was a bit different from how businesses were conducted
beforehand. Initially, a factory executive enjoyed minimal, if any, contact with his
employees. There was absolutely no way of standardizing workplace rules and
the only motivation of the employees was job security.

According to Taylor, money was the key incentive for working, which is why he
developed the “fair day’s wages for a fair day’s work” concept. Since then, the
scientific management theory has been practiced worldwide. The resulting
collaboration between employees and employers evolved into the teamwork that
people now enjoy.

2. Systems Management Theory

Systems management offers an alternative approach to the planning and

management of organizations. The systems management theory proposes that
businesses, like the human body, consists of multiple components that work
harmoniously so that the larger system can function optimally. According to the
theory, the success of an organization depends on several key elements:
synergy, interdependence, and interrelations between various subsystems.

Employees are one of the most important components of a company. Other

elements crucial to the success of a business are departments, workgroups, and
business units. In practice, managers are required to evaluate patterns and
events in their companies so as to determine the best management approach.
This way, they are able to collaborate on different programs so that they can
work as a collective whole rather than as isolated units.

3. Contingency Management Theory

The main concept behind the contingency management theory is that no one
management approach suits every organization. There are several external and
internal factors that will ultimately affect the chosen management approach. The
contingency theory identifies three variables that are likely to influence an
organization’s structure: the size of an organization, technology being employed,
and style of leadership.

Fred Fiedler is the theorist behind the contingency management theory. Fiedler
proposed that the traits of a leader were directly related to how effectively he led.
According to Fiedler’s theory, there’s a set of leadership traits handy for every
kind of situation. It means that a leader must be flexible enough to adapt to the
changing environment. The contingency management theory can be summed up
as follows:

 There is no one specific technique for managing an organization.

 A leader should be quick to identify the particular management style
suitable for a particular situation.
 The primary component of Fiedler’s contingency theory is LPC – the least
preferred co-worker scale. LPC is used to assess how well oriented a
manager is.

4. Theory X and Theory Y

Do you believe that every individual gets maximum satisfaction from the work
they do? Or are you of the opinion that some view work as a burden and only do
it for the money? Such assumptions influence how an organization is run. The
assumptions also form the basis of Theory X and Theory Y.

Douglas McGregor is the theorist credited with developing these two contrasting
concepts. More specifically, these theories refer to two management styles: the
authoritarian (Theory X) and participative (Theory Y).

In an organization where team members show little passion for their work,
leaders are likely to employ the authoritarian style of management. But if
employees demonstrate a willingness to learn and are enthusiastic about what
they do, their leader is likely to use participative management. The management
style that a manager adopts will influence just how well he can keep his team
members motivated.

Theory X holds a pessimistic view of employees in the sense that they cannot
work in the absence of incentives. Theory Y, on the other hand, holds an
optimistic opinion of employees. The latter theory proposes that employees and
managers can achieve a collaborative and trust-based relationship.

Still, there are a couple of instances where Theory X can be applied. For
instance, large corporations that hire thousands of employees for routine work
may find adopting this form of management ideal.

Show the proper ways of managing business finances.

Money management matters

The first few years for any new business are crucial to its long-term success, with
many challenges to overcome and lessons to be learned.

Cash flow problems and mismanaged finances are major causes of business
failure in the early years. Some companies fail to plan properly, some set their
sights too high or low, some don't keep track of costs, some fail to chase
payment.

You can maximize your chances of business success by being aware of the
pitfalls. Then you can manage your company's finances carefully and keep a
close eye on its cash flow.

Taking sensible, practical steps will help you control spending and grow your
business without taking excessive financial risks. Here are some useful tips to
consider.

Use financial planning and forecasting

It's useful to develop a financial plan or framework to keep track of finances
coming into and out of your company. For example, one model for your business
might be to spend:

50 percent of revenue on expenses (such as payroll or supplies).

30 percent of revenue on building the business (such as expansion of equipment
or recruiting costs).
20 percent of revenue on the future, for developing new products and services.
Different plans work for different businesses, and you should discuss this with
your accountant to see what works best for you.

But circumstances change. When they do, your financial plan should change too.
Try to conduct some simple forecasting of your business for at least the next six
months. Be realistic and try to estimate how much you will sell and how much
you will spend. Plug these numbers into your financial plan and see if the results
will still work for your business. If not, you may need to change your plan.

Be ambitious but stay realistic

Ambition and enthusiasm are important characteristics of business owners and
managers. But so is the ability to make rational financial decisions based on the
facts. When you start a new business the feeling of control can be exhilarating.
Free from the constraints of employment, you can make any financial decision
you want to. Some of those decisions will be good. Others won't.

Like any other area of life, learning to run a business comes through
experimentation, successes and occasional mistakes. The mistakes are
 important – if you read any successful entrepreneur's autobiography or
biography, mistakes will feature highly.

But successful entrepreneurs have two things in common – they learn from their
mistakes, and they make small enough mistakes that they are able to recover
from them financially.

This is a pragmatic approach to doing business. Few large companies became

large overnight. They grew over a period of time, with setbacks along the way.
Taking the occasional risk is part of good business. Taking unnecessarily big
risks is not.

Chart your cash flow

Good accounting software can create charts of inflows (sales of goods or
services) and outflows (accounts payable) for your business. It will let you
change the time period and other variables so you can really understand what's
happening. If you look at these charts over a period of weeks and months, you'll
get an idea of the rates of flow of money into and out of your business.

Obviously you need the inflows to be greater than the outflows to make a profit.
But the size of the difference is what's important. It will vary over time because
few businesses make a consistent profit day in, day out. Some months or weeks
will be good, some not so good. Looking at the charts will help you see the
pattern as these values change.

Is the difference between income and expenditure often small? Does it

sometimes dip into negative territory? Those are periods when your business is
potentially at risk of cash flow problems. Try to find out what's causing this to
happen at specific times. You can then attempt to restructure some aspects of
your business to avoid the dips.

Make minor adjustments to regulate cash flow

Where possible you should have enough cash on hand to last you approximately
three to six months. That way, if you have a rough month or two it shouldn't have
a major effect on your business. But if your cash flow is causing problems at
specific times of the month or year, don't panic. You may be able to improve the
situation without dramatic changes. For example:

Consider negotiating different payment dates to your suppliers to better align

inflows with outflows
Experiment with reducing your invoicing payment terms by a day or two to
encourage your customers to pay faster
Understand the negative impact of having inventory sitting in your back office or
warehouse – it costs you space and revenue
Establish a good line of business credit so you can access extra short-term
money if necessary.

3. Give guidelines in developing the business plan.

- So, here are seven steps for writing a perfect business plan.

 Research, research, research. ...
 Determine the purpose of your plan. ...
 Create a company profile. ...
 Document all aspects of your business. ...
 Have a strategic marketing plan in place. ...
 Make it adaptable based on your audience. ...
 Explain why you care.

4. Plan/Organize a business enterprise.

 5. Explain how to develop & market a product.

1. - Develop the Product. Developing your product idea is the first step in

creating something worth selling. ...
2. Test the Market. Once you have a prototype or have created samples of
your product, it's time to test the market. ...
3. Find Buyers. ...
4. Choose Distribution Methods. ...
5. Write a Marketing Plan.

1. Tell a (True) Story About Your Product

Many product marketers fall into the trap of “selling the product, not the
experience.” No one wants your product. No one wants any product. They want a
solution to their problem.

Only talk about the benefits, features, and facts, and you’re missing out on
glaring opportunities for engagement. When you discuss these, you only engage
Broca’s and Wernicke’s area of the brain. These areas simply decode words into
meaning. That’s it.

Tell a story, and the game changes. When you do, and especially when your
story features a character and intense emotions, you engage much more of the
brain. In fact, you can put the whole brain to work.

For example, the limbic system bustles with activity when you describe emotions
like love, hate, joy, anger, or sadness. When you discuss a lavender or cinnamon
smell, the olfactory cortex goes to work.

6. Show how to do a product costing

- Total product costs can be determined by adding together the total direct

materials and labor costs as well as the total manufacturing overhead costs. To
determine the product cost per unit of product, divide this sum by the number
of units manufactured in the period covered by those costs.

7. Explain & show the different ways of business communication.

8. Enumerate the different technologies used in business.

- Examples of technology in business

The 7 Most Common Types of Business Technology
 Computers. Computers are used across multiple businesses. ...
 Software. Computers use different kinds of programs and operating
information, known as software, to do specific tasks. ...
 Networking. ...
 Telephone Communication. ...
 Accounting System. ...
 Inventory Control System.

9. What is Home Economics Related Occupations (HERO)?

10. Define the different related occupations in Home economics.