A Basic Business Reader Chapter 4 Management Principles Objectives After studying this chapter you will be able to: uDefine management and understand its role in achieving organizational objectives. uIdentify three levels of management and explain how the focuses of managers at each level differ. uDescribe the major functions of management. What is an organization? An organization is any group of individuals who work together for the achievement of some stated or implied objectives. Two major types of organization: - business organization - nonprofit organization What resources do organizations have? To achieve its objectives, every organization must have resources, which generally fall into three types. - human resources: people (employees) - physical resources: equipment, machinery, raw materials, etc. - financial resources: money and other valuable assets What is management? Management is the process of coordinating human, physical, and financial resources to achieve an organizations objectives. Management and managers are found wherever people are working together to achieve some common objectives. Levels of management Top Middle First-line CEO, president, vice president managers of various divisions supervisor, foreman, group leader Top management uHaving overall responsibility for the organization. uConcentrating on making strategic decisions or “doing the right thing”. uTop managers generally have many years of varied experience. Middle management uResponsible for certain areas, departments or divisions. uMaking plans to implement strategic decisions made by top management (doing things right). uMaking operating plans for their particular area. First-line Management u Responsible for implementing plans established by middle management. u Supervising workers and managing day-to -day operations. u Providing leadership that is appropriate for the situation. Functions of management 1. Planning: selecting a course of action - Strategic plans: long-range plans - Tactical plans: short-range plans 2. Organizing: structuring of resources - dividing work into small units - assigning tasks to individuals or groups - arranging jobs into specific departments - establishing lines of authority and accountability Functions of management 3. Staffing: hiring people to do work - Recruiting: attracting qualified applicants - Selection: choosing the best candidate 4. Directing: motivating and leading employees to achieve objectives Functions of management 5. Controlling: evaluating and correcting activities to keep the organization on course - Measuring the performance. - Comparing performance with standards. - Identifying deviations from standards. - Investigating causes of deviations. - Taking corrective actions if necessary. Functions of management : major field of work ; : miner field of work Top managers Middle managers First-line managers Planning Organizing Staffing Directing Controlling Workshop Presentation work Supposing you are a divisional manager of a large corporation, tell people about your work. Discussion topic What different personal qualities / background should people at top / middle / first-line management have? 知识回顾知识回顾 Knowledge Knowledge ReviewReview