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Published byMervin Gibbs Modified over 9 years ago
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Introduction to Business & Marketing
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Objectives Understand the purpose of management Describe the functions of management Identify skills needed by managers Understand the levels of management
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What is Management? Entrepreneurs start off only having to manage themselves. If a company has employees, then a management plan is needed. Management helps businesses focus on setting and meeting goals efficiently and effectively.
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Skills Needed by Managers Task-Oriented Time Management InterpersonalProblem SolvingCommunication
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Functions of Management These functions are listed in the order that they occur. Some managers specialize in one or two functions.
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5 Functions of Management 1. Planning 2. Organizing 3. Staffing 4. Implementing/ Directing 5. Controlling
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1. Planning Setting goals and objectives Making long- and short-term plans for meeting goals Determining resources required and standards that must be met
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2. Organizing & 3. Staffing Obtaining/coordinating resources so that objectives can be met Includes organizing people, work processes, and equipment Staffing: May need to hire, train, or fire employees as necessary
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4. Implementing/Directing Influencing, guiding, and directing people to carry out their delegated tasks Providing direction and vision Also known as “leading” or “implementing”
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5. Controlling Keeping the company on track and making sure goals are met Setting standards for quality of work Evaluating performance Solving problems Monitoring customer satisfaction
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Levels of Management Top-Level Management Middle Management Operational Management
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Top-Level Management Top-Level Management: Responsible for setting goals Planning for the future Leading and controlling the work of others
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Middle Management Middle Management: Carries out the decisions of the top management Often responsible for various departments Responsible for organizing functions, leading and controlling the work of others
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Operational Management Operational Management: Responsible for the daily operations of a business: Office Managers Supervisors Crew Leaders Main duty is over seeing workers and meeting deadlines
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Activity Look at organizational charts for Starbucks and identify each level of management Answer questions regarding the current Top-Management at McDonalds
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