Management
Chapter 1
Management â' The planning, organizing, leading and controlling of human and other recourses to achieve organizing goals efficiently and effectively.
Resources: people and their skills, know-how, and experience; machinery; raw materials; computer and information technology and patents, financial capital and loyal customers and employees.
Managers
The people responsible for supervising the use of an organization's resources to meet its goals. (ie. âOrganizational Performance')
â"
A measure of how efficiently and effectively managers are using organizational resources to satisfy customers and achieve goals.
Efficiency
A measure of how well or productively resources are used to achieve a goal
Effectiveness
A measure of the appropriateness of the goals an organization is pursuing and the degree to which they are achieved.
Why is Management so important?
The more effective and efficient use an organization can make of resources, the greater the relative well-being of people
Almost all of us encounter managers because most people have jobs and bosses
Understanding management is one important path toward obtaining a satisfying career
Four Functions of Management
Planning
Process of identifying and selecting appropriate goals and courses of action.
1. Deciding which goals to pursue
2. Deciding what courses of action to adopt
3. Deciding how to allocate resources to reach these goals
Organizing
Process of establishing a structure of working relationships in a way that allows organizational members to interact and cooperate to achieve organizational goals.
Organizational Structure
A formal system of task and reporting relationships that coordinates and motivates organizational members so that they work together to achieve organizational goals
Leading
Articulating a clear vision to follow, and energizing and enabling organizational members so...