Concept of Management Explain management and the management
- Slides: 31
Concept of Management Explain management and the management functions. Strategic Management LAP 3 Explain management levels and responsibilities.
Explain management and the management functions.
There are many opportunities to be a manager. • More than seven million people employed in management • In every industry • Many started careers in entry-level positions. You are involved in management every day. • Follow your supervisor’s instructions. • Organize your own workload.
Management The logical process of coordinating resources, such as money and employees, in order to accomplish an organization’s goals
What Managers Do • • • Decide how to use the business’s resources Make sure the work gets done Don’t usually do the work themselves Oversee the operation Need to understand their employee’s jobs
Management Functions ü Planning ü Organizing ü Staffing ü Directing ü Controlling
Planning • Managers Involves deciding must what work will be done and how it will be accomplished • Identify goals • Determine methods of achieving those goals and resources needed • Set dates for task/project completion • Lays the groundwork for the other management functions • Helps to prevent mistakes and prepare for potential disasters
Organizing • Involves setting up the way the business’s work will be done • Managers must: • Review their plans • Determine jobs that need to be performed • Group those jobs into departments • Establish lines of authority
Staffing • Helps Managers businesses must: to find employees who know how to do the necessary • Identify the types of skills that employees need work to have • Develop ways to recruit and hire the most qualified people • Assign new employees to specific work areas • Determine compensation for workers • Decide what skills will be needed in the future
Directing • Involves Managersproviding must: guidance to workers and work projects • Set the direction for the business • Influence employees to follow in that direction • Motivate and lead workers to accomplish the business’s goals • Develop a team spirit among employees • Reward employees for hard work
Controlling • Involves Managersmonitoring must: the work effort • • Coordinate the business’s activities to make Strong link are between planning sure goals being met and controlling • Monitor and measure employees’ performance • Identify problem areas • Make corrections when necessary • Anticipate problems before they occur • Take preventive action to avoid difficulties
Managerial Skills ü Technical skills ü Interpersonal skills ü Conceptual skills
Technical Skills Managers need technical skills to: ü Understand the technical aspects of the business ! ü Answer questions ü Give directions ü Solve problems ü Have an overall knowledge of the business’s work ?
Interpersonal Skills Managers need interpersonal skills to: ü Work with others ü Communicate ü Interact ü Build relationships
Conceptual Skills Managers need conceptual skills to: ü See the “big picture” ü Look at the organization as a whole ü Understand how parts of the organization are interrelated ü Understand how the organization fits into its environment ü Think creatively ü Make wise decisions
Explain management levels and responsibilities.
Top-level, or executive, management Mid-level, or middle, management First-line, or supervisory, management
Executive Management Top-Level Managers ü Responsible for operation of the entire organization ü At highest level of the business Interpersonal Conceptual ü Highest paid ü Have the most authority and responsibility ü Must have strong Technical Skills needed by Executive Management conceptual skills ü Conduct strategic planning ü Monitor the business’s performance
Mid-Level Managers Middle Management ü Report to top managers ü Have lower level supervisors who report to them ü Should have well-rounded managerial skills Interpersonal ü Especially active in planning, organizing, and controlling Conceptual Technical ü Conduct tactical planning ü Develop short-term plans in Skills needed by Mid-Level Management response to top management’s decisions
First-Line Managers ü Assign work employees Carry out theto actions and plans Supervisory Management ü ü ü of middle management Evaluate employees Spend most of their time Maintain respect and staffing, directing, anddiscipline among employees controlling ü Work side-by-side workers Responsible for thewith day-to day Conceptual ü Technical Interpersonal Skills needed by Supervisory Management activities of the employees Are promoted from of within whooften do the routine work the business ü Train employees
Financial Resources Human Resources Material Resources Information
Human Resources • Consist of all of a business’s employees • Often considered the most important resource
Financial Resources • Needed businesses to: of money Consist by of all of the sources available to the business Ø Buy supplies and materials Ø Pay • Can be employees Ø Cover other operating expenses Ø Cash on hand Ø Income from sales or investments Ø A line of credit Ø Money owed by customers
Material Resources • Consist of the equipment and supplies that businesses need to produce and/or sell their products • Involve purchasing and maintaining the right equipment and supplies for workers
Information • Includes facts, statistics, and opinions • Two types of information: Ø Internal: comes from within the business Ø External: comes from outside the business • Comes from outside sources and other employees
§ Are to be a manager? You you can ready become a better manager of yourself. § Do have stronggoal managerial skills? Set you a work-related for yourself. How coulda your skills? § Establish planstrengthen for reaching that goal.
• A large corporation went out of business after years of success. • People questioned top management’s involvement in the company’s decline. • Top executives received huge salaries while the business failed. • Should the CEO be held responsible for the company’s collapse? • Were the top executives fairly compensated or grossly overpaid?
Acknowledgments Original Developers: April J. Miller and Lelia Ventling, MBAResearch Version 1. 0 Copyright © 2009 MBA Research and Curriculum Center
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