POLC
What are the four functions of management?
Management is the planning, organizing, leading, and controlling of human and other resources to achieve organizational goals efficiently and effectively.
What is the 80/20 Rule?
80% of profits come from 20% of customers
What are the levels of management?
Top Managers, middle managers, front-line managers
Obtaining and sharing information
Informational
What impacts managerial structure?
Restructuring/down-sizing, outsourcing, strategic plan changes, mergers/acquiring new businesses, increased technological capabilities
What is Planning?
Planning is setting goals for an organization and detailed courses of action to reach those goals.
Chose the right goals, made good use of resources
What is High Efficiency - High Effectiveness?
What are the responsibilities of top managers?
Responsible for the performance of all departments, establish company goals and monitor middle managers, sets objectives, scans environment, plans and makes decisions
Plan strategy and utilize resources. Use information
Decisional
Ability to analyze and diagnose a situation
Conceptual
What is Organizing?
Organizing is structuring working relationships in a way that allow members to best achieve goals.
Chose the wrong goals, made poor use of resources
What is Low Efficiency - Low Effectiveness?
What are the responsibilities of Middle Managers?
Supervise first-line managers, allocate departmental resources to achieve goals, develop and implement activities
Provide direction and supervision within the organization
Interpersonal
Ability to understand, lead, and control behavior of employees; coordinate and motivate people, mold a cohesive team
Human
What is Leading
Leading is empowering individuals and teams to work together to achieve organizational goals.
Chose inappropriate goals, made good use of resources in pursuing goals
High Efficiency - Low Effectiveness
What are the responsibilities of first-line managers?
Responsible for day-to-day operations, supervise the workforce, coordinate activities
Communicate useful information to employees and influence mood
Disseminator
Specific knowledge and techniques needed to perform your role
Technical
What is Controlling?
Controlling is evaluating whether the goals of the plan are being met and taking action as needed.
Chose the right goals to pursue, made poor use of resources
What is Low Efficiency - High Effectiveness?
Examples of Each Level of Management
Top Managers - CEO, SVP, VP
Middle Mangers - Directors, Senior Directors, CFO, COO
First-Line Managers - Managers, Senior Managers, Supervisors
Reach agreements within the team between departments, with shareholders, etc.
Negotiator
What skill requires the most people skills?
Human