Reading: Introduction to Management
Business Management for Every Enterprise
Unit 1
Introduction to Management
Why are Managers Important?
Managers identify critical issues and form responses
Create and coordinate systems to accomplish tasks
Manager/employee relationship drives loyalty
Managers affect financial performance
Who are Managers? Where Do They Work?
Coordinate and oversee work of other people
Line/middle/senior management
Managers work in organizations
- Purpose
- People
- Structure
Functions of Management
Planning: set goals and establish strategies
Organizing: what/how/who activities
Leading: work with people towards goals
Controlling: monitor, evaluate, correct
“Attitude reflects leadership!”
Roles of Managers
Interpersonal: figurehead and leader
Informational: collect and share information
Decisional
- Entrepreneur
- Problem solver
- Resource allocator
- Negotiator
Skills of Managers
Technical
- Job specific knowledge and techniques
- Line managers
Human
- Ability to work well with others
- Middle managers
Conceptual
- Understanding complex situations
- Senior managers
Efficiency vs Effectiveness
Efficiency: maximum output from minimum inputs
Effectiveness: successfully achieving organizational goals