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Effective Management Strategies for Business Growth

Explore the four major functions of management - leading, controlling, planning, and organizing. Discover the roles of different resource managers and observe management styles in action with "Undercover Boss". Enhance your understanding of motivating, communicating, setting goals, and resource allocation for a successful business.

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Effective Management Strategies for Business Growth

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Presentation Transcript

  1. Chapter 7 - Management

  2. Functions of Management

  3. Four Major Functions of Management 1. Leading • Motivating, communicating, and encouraging participation. 2. Controlling • Employee discipline, performance appraisals, budgeting, etc. • Use these methods to increase, maintain, or decrease the resources that are allocated to them.

  4. Four Major Functions of Management 3. Planning • set short- and long-term goals • decide how to achieve them. 4. Organizing • arranging people and tasks • three levels of management • upper management • middle management • lower-level management.

  5. Different Resource Managers Purchasing Manager • Sets up the supply and delivery of raw materials, equipment, supplies, and goods for resale. Production Manager • Processing the raw materials into a final product Marketing and Distribution Manager • Ensures that the company’s products are sold using sales strategies

  6. Different Resource Managers Research and Development Manager • creates new products or services • develops new and improved ways Finance Manager • Comptroller responsible for keeping records of the company’s financial transactions and money control (accountant)

  7. Watch Under Cover Boss! • While watching, note the management style and the feedback that the boss is receiving to improve his/her business

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