INTRODUCTION TO INTRODUCTION TO MANAGEMENTMANAGEMENT

Chapter 1Chapter 1The Importance of Business The Importance of Business

ManagementManagementMrs. AMrs. A

The Business World TodayThe Business World Today CHANGE, CHANGE, CHANGECHANGE, CHANGE, CHANGE

Social ResponsibilitySocial Responsibility

Diversity in the work placeDiversity in the work place

WHAT IS MANAGEMENT??WHAT IS MANAGEMENT??

……the process of deciding how best to use the process of deciding how best to use a business’s resources to produce goods a business’s resources to produce goods or provide services.or provide services.

MANAGEMENT GOALSMANAGEMENT GOALS

There is no idea more important to There is no idea more important to managing than managing than GOALS.GOALS.Management has no meaning apart from Management has no meaning apart from its its GOALSGOALS..Management must, therefore, keep Management must, therefore, keep organizational organizational GOALSGOALS in mind in mind AT ALL AT ALL TIMES!TIMES!

MANAGEMENT ROLESMANAGEMENT ROLES

The role of managers is to guide The role of managers is to guide organizations toward organizations toward goal goal accomplishmentaccomplishment by combining and by combining and using using resourcesresources to ensure their to ensure their organization achieves their purpose.organization achieves their purpose.

MANAGEMENT MANAGEMENT CHARACTERISTICSCHARACTERISTICS

It is a process of continuing and related It is a process of continuing and related activities.activities.It involves and concentrates on reaching It involves and concentrates on reaching organizationalorganizational goals goals..It reaches these It reaches these goalsgoals by working with and by working with and though people and other resourcesthough people and other resources

Worksheet on SMART GoalsWorksheet on SMART Goals

• http://www.dummies.com/how-to/content/setting-smart-management-goals.html

OROR• http://articles.techrepublic.com.com/5100-10878

_11-5683094.html

Define SMART Define SMART in your own words.in your own words.Set a goal for yourself and define Set a goal for yourself and define SMARTSMART for for your goal.your goal.DiscussionDiscussion

For ExampleFor ExampleS - Specific means toS - Specific means toM – M – A –A –R –R –T –T –A personal goal may be buying a car.A personal goal may be buying a car. S – I want to buy a red, 1999, 2-door, V6 S – I want to buy a red, 1999, 2-door, V6

Honda Prelude from my cousin Sam.Honda Prelude from my cousin Sam. M - M -

MANAGEMENT LEVELSMANAGEMENT LEVELS

SeniorSenior – – Establish goals, actions to meetEstablish goals, actions to meet goals, how to use the company’s resources.goals, how to use the company’s resources. (CEO, CFO, COO)(CEO, CFO, COO)

MiddleMiddle – – Meet the goals, sets goals for specific areas and actions. Meet the goals, sets goals for specific areas and actions.

(Department heads, district sales managers)(Department heads, district sales managers)SupervisorySupervisory

– – Day-to-day operations, in charge of the people who Day-to-day operations, in charge of the people who make the product. (Store manager, crew leader)make the product. (Store manager, crew leader)

MANAGEMENT MANAGEMENT FUNCTIONS/TASKSFUNCTIONS/TASKS

What are the 5 functions/tasks of What are the 5 functions/tasks of managers and how are they defined?managers and how are they defined?

SLOPCSLOPC StaffingStaffing - How many people, kind of people, - How many people, kind of people,

interview, hire, train interview, hire, train Leading or influencingLeading or influencing – motivate, model, – motivate, model,

reach year end goalsreach year end goals

MANAGEMENT MANAGEMENT FUNCTIONS/TASKS (Continued)FUNCTIONS/TASKS (Continued)

Organizing Organizing – Assign tasks and put plans to – Assign tasks and put plans to actionaction

PlanningPlanning – Creates goals and actions, – Creates goals and actions, Business plan, develops short term goals to Business plan, develops short term goals to reach long term goalsreach long term goals

ControllingControlling – gather information to measure – gather information to measure performance. Compare financial informationperformance. Compare financial information

and make changes as necessary.and make changes as necessary.

MANAGEMENT ROLESMANAGEMENT ROLES

3 TYPES OF ROLES3 TYPES OF ROLES Interpersonal RolesInterpersonal Roles A managers relationship with people.A managers relationship with people. Information-related RolesInformation-related Roles Providing knowledge, news, advice to Providing knowledge, news, advice to

employees.employees. Decision-making RolesDecision-making Roles Changing policy, resolving conflict, Changing policy, resolving conflict, deciding how to use resourcesdeciding how to use resources

MANAGEMENT SKILLSMANAGEMENT SKILLS

3 TYPES OF SKILLS3 TYPES OF SKILLS Conceptual SkillsConceptual Skills Helps managers understand Helps managers understand how different parts relate to the whole.how different parts relate to the whole. Human Relations SkillsHuman Relations Skills Helps managers understandHelps managers understand and work well with people.and work well with people. Technical SkillsTechnical Skills Specific skills to perform their jobsSpecific skills to perform their jobs

PRINCIPLES OF MANAGEMENTPRINCIPLES OF MANAGEMENT

What is a principle and how are they What is a principle and how are they developed?developed?A basic truth or law developed through A basic truth or law developed through observation and deduction.observation and deduction.

What is an example?What is an example?

THE GLASS CEILINGTHE GLASS CEILING

Who does it affect and why?Who does it affect and why?

Chapter 1, Section 1.2Chapter 1, Section 1.2

EntrepreneursEntrepreneurs:: Who are they?Who are they? Difference between a Difference between a

professional manager and an professional manager and an entrepreneur?entrepreneur?

Successful EntrepreneursSuccessful Entrepreneurs

What traits/characteristics do What traits/characteristics do they have to help them they have to help them succeed? succeed?

Sole ProprietorSole ProprietorIntrapreneurshipIntrapreneurshipSmall Business AdministrationSmall Business Administration