2Read to LearnDescribe the overall purpose of management.Discuss the four functions of management.
3The Main IdeaThe purpose of management is to set goals for the company and to help meet those goals as efficiently and effectively as possible. There are four functions of management: planning, organizing, leading, and controlling.
4Key ConceptsIntroduction to ManagementThe Four Functions of Management
5Key Termthe process or functions of planning, organizing, leading, and controllingmanagementthe act or process of creating goals and objectives as well as the strategies to meet themplanning
6Key Termgetting the resources arranged in an orderly and functional way to accomplish goals and objectivesorganizinga chart that shows how the firm is structured and who is in charge of whomorganizational chart
7Key Terma manager who is responsible for setting goals and planning for the future as well as leading and controlling the work of otherstop-level manager
8Key Termmiddle managera manager who carries out the decisions of top managementoperational managera manager who is responsible for the daily operations of a business
9Key Termleadingproviding direction and visionkeeping the company on track and making sure goals are metcontrolling
10Introduction to Management If a firm has employees, then some type of management is necessary.managementthe process or functions of planning, organizing, leading, and controlling
11Management Responsibilities Meeting Goals Efficiently Graphic OrganizerManagement ResponsibilitiesMeeting Goals EfficientlyFocusing on GoalsProfit Made
12The Four Functions of Management The four functions of management are:PlanningOrganizingLeadingControllingSome managers may primarily focus on one or two of these functions.
14The Four Functions of Management A challenge for many managers is dealing with multiple objectives, each at a different functional level.Communicating with employees at all times helps assure that objectives are met.
15PlanningPlanning involves figuring out the resources that are needed and the standards that must be met.planningthe act or process of creating goals and objectives as well as strategies to meet them
16Organizing and Staffing A manager is responsible for organizing people, work processes, and equipment.organizinggetting the resources arranged in an orderly and functional way to accomplish goals and objectives
17Organizing and Staffing A manager may be involved in creating an organizational chart.organizational charta chart that shows how the firm is structured and who is in charge of whom
18Organizing and Staffing A small firm may have only one top-level manager.top-level managera manager who is responsible for setting goals and planning for the future as well as leading and controlling the work of others
19Organizing and Staffing Middle managers are often responsible for various departments in a business.middle managera manager who carries out the decisions of top managers
20Organizing and Staffing Supervisors, office managers, and crew leaders are types of operational managers.operational managera manager who is responsible for the daily operations of a business
21Leading Leading involves: Setting standards Delegating work Enforcing policiesResolving conflictsleadingproviding direction and vision
22Showing a Strong Work Ethic Graphic OrganizerHow Good Managers Lead by ExampleShowing RespectShowing HonestyShowing LoyaltyShowing CourtesyShowing a Strong Work EthicShowing MotivationShowing InitiativeShowing CooperationShowing Punctuality
23ControllingControlling involves several tasks, including monitoring customer satisfaction.controllingkeeping the company on track and making sure goals are met
24Graphic Organizer Controlling Keeping track of budgets Keeping track of schedulesMonitoring the quality of products or servicesMonitoring and reviewing employee performanceTaking corrective action when goals are not metMonitoring customer satisfaction
25What is management?The aspect of business that involves planning, organizing, leading, and controlling.
26What are three levels of management? top, middle, and operational
27Which of the three levels is most involved in the day-to-day supervision of employees? operational management
29Read to LearnIdentify the differences between management structures.Name six skills necessary for effective management.
30The Main IdeaBusinesses have many different management structures that they can adopt. People who are interested in management should pay attention to the skills and knowledge needed to be an effective manager.
31Key ConceptsManagerial StructuresIs Being a Manager for You?
32Key Terman organizational structure in which managers on one level are in charge of those beneath themline authorityan organizational structure with a direct line of authority as well as staff who advise the line personnelline and staff authority
33Key Terman organizational structure in which authority is with top managementcentralized organizationan organizational structure that gives authority to a number of different managersdecentralized organization
34Key Terman organizational structure that divides responsibility among specific units, or departmentsdepartmentalizationentry-level joba beginner-level position
35Managerial Structures An advantage of the line authority structure is that authority is clearly defined.line authorityan organizational structure with managers on one level are in charge of those beneath them
36Managerial Structures The line and staff authority structure enables managers to get advice. It can also lead to overstaffing.line and staff authorityan organizational structure in which has a direct line of authority as well as staff who advise the line personnel
37Line and Staff Authority Organization Chart Figure 7.2Line and Staff Authority Organization Chart
38Managerial Structures Decentralized organizations are often found in international businesses.decentralized organizationan organization that gives authority to a number of different managers
39Formal structures usually employ departmentalization. an organizational structure that divides responsibility among specific units, or departments
40Informal StructureA business can be run informally if it does not need a big marketing or distribution network.Informal structures are more flexible than formal structures.
41Is a Manager’s Job for You? Most managers begin their career in an entry-level job.entry-level joba beginner-level position
43Manage Time Effectively Understanding the Business Graphic OrganizerSkills Needed by ManagersKeep Accurate RecordsTask- OrientedWork Under PressureManage Time EffectivelyCommunicate WellHuman RelationsUnderstanding the Business
44Advantages of Being a Manager Graphic OrganizerMore control over timeGreater influenceMore moneyAdvantages of Being a ManagerRespectPrestige
45Blamed when things go wrong Disadvantages of Being a Manager Graphic OrganizerBlamed when things go wrongDisadvantages of Being a ManagerMistakes are costlyPressure
46What is an advantage of a line and staff authority organization structure over a line authority organization?Line and staff authority structure enables management to get advice from staff personnel.
47Why do some businesses use a decentralized organization? They allow decisions to be made at the local level where managers are more familiar with the problems and have the resources to solve them.
48What are some characteristics of an effective manager? task-oriented, able to work under pressure,effective communicator, works well with others, and technical knowledge