Intro to Management
Includes the processes or functions of planning, organizing, leading and controlling.
What is management
The four different functions of management:
What are planning, organizing, leading and controlling.
Setting objectives and making long and short term plans for meeting the objectives.
What is planning
Shows how the firm is structured and who is in charge of whom.
What is an organizational chart?
An organizational structure in which managers on one level are in charge of those beneath them.
What is line authority?
Beginning level position.
What is an entry-level job?
Entrepreneurs who start and run businesses by themselves do not have to manage other people. They manage ______________
Who is themselves.
The first function of management.
What is planning
Setting standards for work evaluating performance and solving problems that prevent certain tasks' completion.
Responsible for the daily operations of a business.
What is an operational manager?
Gives authority to a number of different managers. Often used in international busiensses.
What is decentralized organization?
Being task oriented, a good time manager, a good communicator, being able to work under pressure and be a problem solver.
What are the skills needed to be a manager?
Management helps businesses focus on setting and meeting __________.
What are goals?
Measuring how the business performs to endure that financial and operational goals are met.
What is controlling?
What is leading?
Responisible for setting goals and planning for the future as well as leading and controlling the work of others.
Putting all the authority in one place - with the top management.
What is centralized organization.
Earning more money, being respected, having influence and authority and greater control over your time.
What are the advantages of being a manager?
Managers help the business be successful by ________
and directing employees.
What is supervising?
What is a challenge?
Obtaining and coordinating resources so that a business's objectives can be met.
What is organizing?
Carries out the decisions of top management.
What is a middle manager?
In this type of structure, the advantage is that the manager can get advice from personnel.
What is line and staff authority?
Often have to take the blame when things go wrong, mistakes made can be very costly to the company, and having a lot of pressure.
What are the disadvantages of being a manager?