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Intro to Business Chapter 7

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Presentation on theme: "Intro to Business Chapter 7"— Presentation transcript:

1 Intro to Business Chapter 7
Business Management Intro to Business Chapter 7

2 Managing Functions Section 7-1 - Management Functions
Describe the overall purpose of management Discuss the four functions of management Relate the following terms to your own life: Planning Organizing Leading Controlling 6-1

3 Managing Functions Introduction to Management Management Managers
Includes the process or functions of planning, organizing, leading and controlling People who are in charge of running a business Helps businesses focus on setting and meeting goals efficiently and effectively so that a profit can be made. Managers Need a thorough understanding of business operations Develop objective for firms and departments. 6-1

4 Managing Functions The Four Functions of Management Planning
The act or process of creating goals (short and long term) and objectives as well as the strategies to meet them. Find out what resources are needed and standards that must be met Organizing and Staffing Organizing- Getting the resources arranged in an orderly and functional way to accomplish goals and objectives. Staffing – Hire, train and evaluate employees Fire them when necessary 6-1

5 Managing Functions Levels of Management
Organizational Chart – Shows the structure of the business and who is in charge. Top – Level Manager Responsible for setting goals Planning for the future Leading and controlling the work of others Middle Manager Carries out the decisions of the top management Responsible for various Departments (production, marketing, accounting) Operational Manager Responsible for daily operations of business Supervisors, office managers, crew leaders Oversee workers and meet deadlines 6-1

6 Managing Functions John Smith Mary Jones Jay Addison Thomas Williams
President, CEO Mary Jones Vice President Jay Addison Manager Thomas Williams Jo Ann Cox Mark Green Linda Bradley

7 Managing Functions Leading Controlling Providing direction and vision
Set standards, such as deadlines and sales quota Delegate work, enforce policies, time management, provide feedback Good Managers lead by example Controlling Keeping the company on track and making sure goals are met Keep track of budget, schedule, and quality of the products or services they provide 6-1

8 Questions What is management? What are the three levels of management?
Which of the three levels is most involved in the day-to-day supervision of employees? Some people think that the planning function is the most important one for a manager. Why might that be true? Some companies are using fewer middle managers, how have the jobs of top-level management and operational managers changed?

9 Learning Targets Section 7.2: Management Structures
Identify the differences between management structures Name the six skills necessary for effective management

10 Management Structures
Ways to organize a business Line Authority Organizational Structure in which managers on one level are in charge of those beneath them Advantage - Authority is clearly defined, know who reports to who Disadvantage - Managers have few specialists who help with their responsibilities Line and Staff Authority Shows direct line authority as well as who advises the line personnel Advantage - Enables managers to get advice Disadvantage - Can lead to overstaffing 7-2

11 Line and Staff Authority

12 Management Structures
Centralized Organization Puts management in one place (top management) Helps management be consistent in decision making Decentralized Organization Gives authority to a number of different managers Number of managers have authority Decisions can be made at local level where managers are more familiar with the problems

13 Management Structures
Formal Structure Departmentalized Divides responsibilities among specific units, or departments. Can be divided by: Geographic location Function Customer Groups Product Informal Structure Usually used in smaller businesses Employees can be more flexible and share duties Partners can work alone or together on projects

14 Management Structures
Is a Manager’s Job for You? Most managers begin in entry – level jobs (beginner level) Gain experience and show certain qualities can be promoted Skills needed by managers Task oriented – handle many tasks at one time Plan your time – Decide which tasks are more important Keep Accurate business records Be able to work under pressure and solve problems Time Management skills Good communication skills (listening is important) Human relations skills Must have knowledge about the technical aspects of their business

15 Management Structures
Advantages of Being a Manager Earn more money Have the ability to lead Good leaders are respected More influence and Authority Greater Control over time Disadvantages of Being a Manager Blamed when things go wrong Mistakes can be costly to the company Under a lot of pressure

16 Questions What is an advantage of a line and staff authority organization structure over a line authority organization? Why do some businesses use a decentralized organization? What are some characteristics of an effective manager? Why do you think it is a good idea for workers to have more decision-making duties and provide input to managers? Why might a manager decide to change an informally structured organization into a formally structured one?

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