The Scope of Management Business Management

Today’s Lesson OBJECTIVE ESSENTIAL QUESTIONS We will describe management roles, functions, skills and values as we begin studying the Scope of Management. What is management? What do managers do - specific tasks? What should managers do - responsibilities?

What is Management? What are words that comes to mind when you hear the word “management”?

The Scope of Management What is management? What are the specific tasks and responsibilities of management?

Tasks / Responsibilities What is Management? Definition Tasks / Responsibilities Ensuring that the business works Making sure people want your products Making sure business is running well – prices, profit, customer service Process – multiple steps & keeps going Quality Pricing Customer’s needs Imports / exports Marketing Need for product

Functions of Management

Four Functions of Management Planning Organizing Implementing Controlling

Planning Analyzing information and making decisions about what needs to be done

Organizing Determining how plans can be accomplished most effectively Arranging resources to complete work Includes staffing

Implementing Carrying out the plans Helping employees to work effectively More day-to-day management activities

Controlling Evaluating results to determine if the company’s objectives have been accomplished as planned

Skills of Good Managers

Management Skills What are the skills used to efficiently channel resources and resolve conflict? What types of skills do you think managers should have?

Skills Managers Need Communication Skills Human Relations Skills Teamwork Skills Problem-Solving Skills Organizational Skills

Closing Task Describe the difference between managerial tasks and managerial responsibilities. Include at least one example of each (task & responsibility).

Managing A Business It is the responsibility of the business owner & managers to give the company direction. This includes summarizing what the company does (purpose), what the company hopes to achieve (goals), and even its core values. Consider the vision & mission statements of some of today’s biggest companies.

Managers Set Direction & Goals MISSION STATEMENT VISION STATEMENT Short, specific statement that defines the purpose of the company. Should answer the question “what do we do?” Broader statement that describes the direction of the business Should answer the question “what will we accomplish in the future?”

NIKE To bring inspiration and innovation to every athlete in the world MISSION STATEMENT VISION STATEMENT To bring inspiration and innovation to every athlete in the world To be number one athletic company in the world

WAL-MART To help people save money so they can live better MISSION STATEMENT VISION STATEMENT To help people save money so they can live better To become the worldwide leader in retailing

Worksheet On Your Own Identify 4 companies that interest you. List the current mission statement and vision statement of each company – you may have to do some additional searching. Referring to your definitions, analyze each statement to identify at least one strength and one area for improvement.