Functions of Management Introduction to Business Marketing Objectives

Functions of Management Introduction to Business & Marketing

Objectives �Understand the purpose of management �Describe the functions of management �Identify skills needed by managers �Understand the levels of management

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.

Skills Needed by Managers Task-Oriented Communication Problem Solving Time Management Interpersonal

Functions of Management �These functions are listed in the order that they occur. �Some managers specialize in one or two functions.

5 Functions of Management 1. 2. 3. 4. 5. Planning Organizing Staffing Implementing/ Directing Controlling

1. Planning �Setting goals and objectives �Making long- and short -term plans for meeting goals �Determining resources required and standards that must be met

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

4. Implementing/Directing �Influencing, guiding, and directing people to carry out their delegated tasks �Providing direction and vision �Also known as “leading” or “implementing”

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

Levels of Management �Top-Level Management �Middle Management �Operational Management

Top-Level Management �Top-Level Management: �Responsible for setting goals �Planning for the future �Leading and controlling the work of others

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

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

Activity �Look at organizational charts for Starbucks and identify each level of management �Answer questions regarding the current Top-Management at Mc. Donalds