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Understanding Business Chapter 7

Understanding Business Chapter 7 - Understanding Business...

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Understanding Business Chapter 7 (Management, Leadership, Employee Empowerment) Management – process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources Carrying out of the leadership’s vision Today managers are educated to guide, train, support, motivate, and coach employees rather than tell them what to do Functions of management: 1. Planning – anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives 2. Organizing – designing the structure of the organization and creating conditions and systems in which everyone and everything work together to achieve the organization’s goals and objectives 3. Leading – creating a vision for the organization and communicating, guiding, training, coaching, and motivating others to work effectively to achieve the organization’s goals and objectives 4. Controlling – establishing clear standards to determine whether an organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not…are we meeting our goals Vision – encompassing explanation of why the organization exists and where it’s trying to head Mission statement –
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