1. Management
7-1

2. Goals Define the five functions of management.
Describe the levels of management in businesses.
Discuss when to use the two management styles.

3. Role and Work of Managers
Management – is the process of accomplishing the goals of an organization through the effective use of people and other resources.

4. The Five Functions of Management
Planning – involves analyzing information, setting goals, and making decisions about what needs to be done.
Organizing – means indentifying and arranging the work and resources needed to achieve the goals that have been set.
Staffing – includes all of the activities involved in obtaining, preparing, and compensating the employees of a business.
Implementing – is the effort to direct and lead people to accomplish the planned work of the organization.
Controlling – determines to what extent the business is accomplishing the goals it set out to reach in the planning stage.

5. Managers must solve problems, make decisions, respond to competition, and develop new strategies.
Effective managers motivate employees to do their best work.
Successful businesses have managers who are able to perform the five functions well.

6. Management Levels Top Management
Executives are top-level managers with responsibilities for the direction and success of the entire business.
Set long-term directions and plans
Held accountable for the profitability and success of the business
Plan and control activities
Study the economy & competition
Approve all major business communications
Responsible for the work of all other managers and employees
Titles include: chief executive officer, president, chief operating officer, and vice president

7. Mid-Management – are specialists with responsibilities for specific parts of a company’s operations.
Take the business plan developed by executives and prepare specific plans for their part of the business
Their work must be coordinated with other managers
Much of their time is devoted to the organizing, staffing, and implementing functions
Titles include: marketing manager, info. Tech. manager, operations manager, and human resource manager

8. Supervisors – are the first level of management in a business.
Responsible for the work of a group of employees.
Plan the day-to-day work of the employees
Make sure that needed resources are available and used wisely.
Evaluate work of their employees and solve problems that occur in their area
Implement the plans of executives and mid- managers

9. Management Styles The way a manager treats and involves employees
Tactical Management – style in which the manager is more directive and controlling.
Will make the major decisions and stay in close contact with employees
Strategic Management – style in which managers are less directive and involve employees in decision making
Mixed Management – style in which both tactical and strategic styles are used.