Transcript WOBPPC07 - management

Chapter 7: Management
How Management Functions
To achieve organizational goals, management decides how to utilize
human, financial, and material resources. The four major functions of
management are planning, organizing, leading, and controlling.
Planning
Planning is the process of setting short- and long-term goals and
deciding how to achieve them.
Organizing
Organizing is arranging people and tasks to carry out the business’s
plans and objectives. The three levels of management are upper
management, middle management, and lower-level management.
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Chapter 7: Management
How Management Functions
Leading
Through leadership, managers achieve organizational goals by
motivating, communicating, and encouraging participation.
Controlling
Controlling involves activities, such as employee discipline,
performance appraisals, and budgeting. Managers use these
methods to increase, maintain, or decrease the resources that are
allocated to them.
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Chapter 7: Management
Managing Resources
Businesses often have different managers for each resource area.
Purchasing
Purchasing managers negotiate with suppliers for the supply and
delivery of raw materials, equipment, supplies, and goods for resale.
Production
Activities of a production manager range from processing the raw
materials into a final product to packaging and storing the same
product.
Marketing and Distribution
Using sales strategies, marketing and distribution managers ensure
that the company’s products are sold.
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Chapter 7: Management
Managing Resources
Research and Development
Research and Development (R&D) departments create new
products or services or develop new and improved ways to produce
the original product or service.
Finance
Often an accountant, the comptroller who manages the financial
department is responsible for keeping records of the company’s
financial transactions and money control.
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Chapter 7: Management
Leadership Styles
Separate presentation to follow
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Chapter 7: Management
Ethical Behaviour and
Management
Managers make decisions that guide the social responsibility, moral,
and ethical behaviour of a business.
Management and Employees
Managers are role models in an organization. When managers treat
others with respect and dignity, their behaviour is perpetuated
throughout the organization.
Management and the Environment
Businesses need to be aware that their decisions impact the
environment. Good decisions minimize environmental damage; bad
decisions accelerate it. Using environmentally friendly practices
creates a positive public image for the company that may improve its
bottom line.
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Chapter 7: Management
Ethical Behaviour and
Management
Management and the Community
Ethical decisions that impact local communities are made on a daily
basis by a company’s management. Contributing to charitable
organizations such as the United Way is one way that companies
make a difference in their communities.
Teamwork in Companies
A team is a collection of individuals with complementary skills who
work together to pursue a common goal. Depending on the purpose
and duration of the group, different types of teams are used to obtain
organizational objectives.
Types of Teams
• Committee
• Cross-functional team
• Virtual team
• Task force
• Self-managed work team
• Informal team
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Types of Teams
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