1. The Functions of Management

2. Introduction to Management If a firm has employees, then some type of management is necessary. management the process or functions of planning, organizing, leading, and controlling

3. Graphic Organizer Management Responsibilities Focusing on Goals Meeting Goals Efficiently Profit Made

4. The Four Functions of Management The four functions of management are: 1.Planning 2.Organizing 3.Leading 4.Controlling Some managers may primarily focus on one or two of these functions.

5. The 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.

6. Planning Planning involves figuring out the resources that are needed and the standards that must be met. planning the act or process of creating goals and objectives as well as strategies to meet them

7. Organizing and Staffing A manager is responsible for organizing people, work processes, and equipment. organizing getting the resources arranged in an orderly and functional way to accomplish goals and objectives

8. Organizing and Staffing A manager may be involved in creating an organizational chart. organizational chart a chart that shows how the firm is structured and who is in charge of whom

9. Organizing and Staffing A small firm may have only one top-level manager. top-level manager a manager who is responsible for setting goals and planning for the future as well as leading and controlling the work of others

10. Organizing and Staffing Middle managers are often responsible for various departments in a business. middle manager a manager who carries out the decisions of top managers

11. Organizing and Staffing Supervisors, office managers, and crew leaders are types of operational managers. operational manager a manager who is responsible for the daily operations of a business

12. Leading Leading involves: Setting standards Delegating work Enforcing policies Resolving conflicts leading providing direction and vision

13. Graphic Organizer Showing Respect Showing Honesty Showing Loyalty Showing Courtesy Showing a Strong Work Ethic Showing Motivation Showing Initiative Showing Cooperation Showing Punctuality How Good Managers Lead by Example

14. Controlling Controlling involves several tasks, including monitoring customer satisfaction. controlling keeping the company on track and making sure goals are met

15. Graphic Organizer Keeping track of budgets Controlling Keeping track of schedules Monitoring the quality of products or services Monitoring and reviewing employee performance Taking corrective action when goals are not met Monitoring customer satisfaction

16. Managerial Structures An advantage of the line authority structure is that authority is clearly defined. line authority an organizational structure with managers on one level are in charge of those beneath them

17. Managerial Structures The line and staff authority structure enables managers to get advice. It can also lead to overstaffing. line and staff authority an organizational structure which has a direct line of authority as well as staff who advise the line personnel

18. Line and Staff Authority Organization Chart Figure 7.2

19. Managerial Structures Centralized Organization helps managers throughout the firm be consistent in decision making Centralized Organization Puts authority in one place – with top management.

20. Managerial Structures Decentralized organizations are often found in international businesses. decentralized organization an organization that gives authority to a number of different managers

21. Formal Structure Formal structures usually employ departmentalization. departmentalization an organizational structure that divides responsibility among specific units, or departments

22. Informal Structure A business can be run informally if it does not need a big marketing or distribution network. Informal structures are more flexible than formal structures.

23. Is a Manager’s Job for You? Most managers begin their career in an entry-level job. entry-level job a beginner-level position

24. Graphic Organizer Entry Level Gain Experience Promotion

25. Graphic Organizer Skills Needed by Managers Task- Oriented Keep Accurate Records Work Under Pressure Manage Time Effectively Communicate Well Human Relations Understanding the Business

26. Graphic Organizer Advantages of Being a Manager More money RespectPrestige Greater influence More control over time

27. Graphic Organizer Disadvantages of Being a Manager Mistakes are costly Pressure Blamed when things go wrong