The Scope of Management Business Management
Today’s Lesson OBJECTIVE ESSENTIAL QUESTIONS • We will describe management roles, functions, skills and values as we begin studying the Scope of Management. • What is management? • What do managers do - specific tasks? • What should managers do - responsibilities?
What is Management? • What are words that comes to mind when you hear the word “management”?
The Scope of Management • What is management? • What are the specific tasks and responsibilities of management?
What is Management? Definition Tasks / Responsibilities • Ensuring that the business works • Making sure people want your products • Making sure business is running well – prices, profit, customer service • Process – multiple steps & keeps going • Quality • Pricing • Customer’s needs • Imports / exports • Marketing • Need for product
Four Functions of Management • Planning • Organizing • Implementing • Controlling
Planning • Analyzing information and making decisions about what needs to be done
Organizing • Determining how plans can be accomplished most effectively • Arranging resources to complete work • Includes staffing
Implementing • Carrying out the plans • Helping employees to work effectively • More day-to-day management activities
Controlling • Evaluating results to determine if the company’s objectives have been accomplished as planned
Management Skills • What are the skills used to efficiently channel resources and resolve conflict? • What types of skills do you think managers should have?
Skills Managers Need • Communication Skills • Human Relations Skills • Teamwork Skills • Problem-Solving Skills • Organizational Skills
Closing Task • Describe the difference between managerial tasks and managerial responsibilities. • Include at least one example of each (task & responsibility).
Managing A Business • It is the responsibility of the business owner & managers to give the company direction. • This includes summarizing what the company does (purpose), what the company hopes to achieve (goals), and even its core values. • Consider the vision & mission statements of some of today’s biggest companies.
Managers Set Direction & Goals MISSION STATEMENT VISION STATEMENT • Short, specific statement that defines the purpose of the company. • Should answer the question “what do we do?” • Broader statement that describes the direction of the business • Should answer the question “what will we accomplish in the future?”
NIKE MISSION STATEMENT VISION STATEMENT • To bring inspiration and innovation to every athlete in the world • To be number one athletic company in the world
WAL-MART MISSION STATEMENT VISION STATEMENT • To help people save money so they can live better • To become the worldwide leader in retailing
Worksheet On Your Own • Identify 4 companies that interest you. • List the current mission statement and vision statement of each company – you may have to do some additional searching. • Referring to your definitions, analyze each statement to identify at least one strength and one area for improvement.