Read to Learn

2. Read to Learn • Describe the overall purpose of management. • Discuss the four functions of management.

3. The Main Idea The purpose of management is to set goals for the company and to help meet those goals as efficiently and effectively as possible. There are four functions of management: planning, organizing, leading, and controlling.

4. Key Concepts • Introduction to Management • The Four Functions of Management

5. Key Term the process or functions of planning, organizing, leading, and controlling management the act or process of creating goals and objectives as well as the strategies to meet them planning

6. Key Term getting the resources arranged in an orderly and functional way to accomplish goals and objectives organizing a chart that shows how the firm is structured and who is in charge of whom organizational chart

7. Key Term a manager who is responsible for setting goals and planning for the future as well as leading and controlling the work of others top-levelmanager

8. Key Term middlemanager a manager who carries out the decisions of top management a manager who is responsible for the daily operations of a business operationalmanager

9. Key Term leading providing direction and vision keeping the company on track and making sure goals are met controlling

10. Discussion Starter • The four functions of management are planning, organizing, leading, and controlling. • Compare these to the things in your life. What do you do to plan? What things do you plan? What about organizing, leading or controlling?

11. Entrepreneur or proprietorship vs. management If a firm has employees, then some type of management is necessary. management the process or functions of planning, organizing, leading, and controlling

12. Graphic Organizer Management Responsibilities MeetingGoalsEfficiently Focusing onGoals ProfitMade

13. The Four Functions of Management The four functions of management are: • Planning • Organizing • Leading • Controlling Some managers may primarily focus on one or two of these functions.

14. ManagementFunctions Figure 7.1

15. The Four Functions of Management A challenge for many managers is dealing with multiple objectives, each at a different functional level. Communicating with employees at all times helps assure that objectives are met.

16. Planning Planning involves figuring out the resources that are needed and the standards that must be met. planning the act or process of creating goals and objectives as well as strategies to meet them

17. Organizing and Staffing A manager is responsible for organizing people, work processes, and equipment. organizing getting the resources arranged in an orderly and functional way to accomplish goals and objectives

18. Organizing and Staffing A manager may be involved in creating an organizational chart. organizational chart a chart that shows how the firm is structured and who is in charge of whom

19. Organizing and Staffing A small firm may have only one top-level manager. top-level manager a manager who is responsible for setting goals and planning for the future as well as leading and controlling the work of others

20. Organizing and Staffing Middle managers are often responsible for various departments in a business. middle manager a manager who carries out the decisions of top managers

21. Organizing and Staffing Supervisors, office managers, and crew leaders are types of operational managers. operational manager a manager who is responsible for the daily operations of a business

22. Leading Leading involves: • Setting standards • Delegating work • Enforcing policies • Resolving conflicts leading providing direction and vision

23. Graphic Organizer How Good Managers Lead by Example ShowingRespect ShowingHonesty ShowingLoyalty ShowingCourtesy Showing aStrong WorkEthic ShowingMotivation ShowingInitiative ShowingCooperation ShowingPunctuality

24. Controlling Controlling involves several tasks, including monitoring customer satisfaction. controlling keeping the company on track and making sure goals are met

25. Graphic Organizer Controlling Keeping track of budgets Keeping track of schedules Monitoring the quality of products or services Monitoring and reviewing employee performance Taking corrective action when goals are not met Monitoring customer satisfaction

26. What is management? The aspect of business that involves planning, organizing, leading, and controlling.

27. What are three levels of management? top, middle, and operational

28. Which of the three levels is most involved in the day-to-day supervision of employees? operational management

29. Organizational Chart • Locate and print an example of an organizational that is the same type of business that you will create your own organizational chart with. • Ex. If you are going to create a organizational chart for a supermarket type business, you need to print an example of stop and shop or price chopper etc.

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