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ABasicBusinessReader,Chapter4ManagementPrinciples,Objectives,Afterstudyingthischapteryouwillbeableto:Definemanagementandunderstanditsroleinachievingorganizationalobjectives.Identifythreelevelsofmanagementandexplainhowthefocusesofmanagersateachleveldiffer.Describethemajorfunctionsofmanagement.,Whatisanorganization?,Anorganizationisanygroupofindividualswhoworktogetherfortheachievementofsomestatedorimpliedobjectives.Twomajortypesoforganization:-businessorganization-nonprofitorganization,Whatresourcesdoorganizationshave?,Toachieveitsobjectives,everyorganizationmusthaveresources,whichgenerallyfallintothreetypes.-humanresources:people(employees)-physicalresources:equipment,machinery,rawmaterials,etc.-financialresources:moneyandothervaluableassets,Whatismanagement?,Managementistheprocessofcoordinatinghuman,physical,andfinancialresourcestoachieveanorganizationsobjectives.Managementandmanagersarefoundwhereverpeopleareworkingtogethertoachievesomecommonobjectives.,Levelsofmanagement,CEO,president,vicepresident,managersofvariousdivisions,supervisor,foreman,groupleader,Topmanagement,Havingoverallresponsibilityfortheorganization.Concentratingonmakingstrategicdecisionsor“doingtherightthing”.Topmanagersgenerallyhavemanyyearsofvariedexperience.,Middlemanagement,Responsibleforcertainareas,departmentsordivisions.Makingplanstoimplementstrategicdecisionsmadebytopmanagement(doingthingsright).Makingoperatingplansfortheirparticulararea.,First-lineManagement,Responsibleforimplementingplansestablishedbymiddlemanagement.Supervisingworkersandmanagingday-to-dayoperations.Providingleadershipthatisappropriateforthesituation.,Functionsofmanagement,1.Planning:selectingacourseofaction-Strategicplans:long-rangeplans-Tacticalplans:short-rangeplans2.Organizing:structuringofresources-dividingworkintosmallunits-assigningtaskstoindividualsorgroups-arrangingjobsintospecificdepartments-establishinglinesofauthorityandaccountability,Functionsofmanagement,3.Staffing:hiringpeopletodowork-Recruiting:attractingqualifiedapplicants-Selection:choosingthebestcandidate4.Directing:motivatingandleadingemployeestoachieveobjectives,Functionsofmanagement,5.Controlling:evaluatingandcorrectingactivitiestokeeptheorganizationoncourse-Measuringtheperformance.-Comparingperformancewithstandards.-Identifyingdeviationsfromstandards.-Investigatingcausesofdeviations.-Takingcorrectiveactionsifnecessary.,Functionsofmanagement,:majorfieldofwork;:minerfieldofwork,Workshop,PresentationworkSupposingyouareadivisionalmanagerofalargecorporation
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