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