Business notes2

Business notes2 - The role of management Management the...

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The role of management Management – the process of guiding the development, maintenance, and allocation or resources to attain organizational goats. New management approaches – why? Global competition Business scandals Constant change Better educated workers Downsizing/Rightsizing Management Challenges Finding/Training New Employees Growing Global Competition Finding/Serving New Customers Financing Long-Term Growth Dealing with Increased Regulation Required Management Skills Technical Skills Human Relations Skills Conceptual Skills Managerial Roles Decisional Entrepreneur Allocate Resources (people and $$$) Negotiator Resolve Conflicts/problems Informational Disseminate/communicate information Monitor results vs. standards/plans Spokesperson Interpersonal Leadership provide guidance Liaison coordinate activities Figurehead represent the company Sources of Management Outside sources Customers and suppliers Financial institutions Other managers Publications conferences Academics and consultants
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Inside Sources Subordinates and teams Supervisors Meetings and seminars Management systems Process of Management Plan Organize Leading Control Achievement of Goals and Objectives Resources Employees Financial Products Location Information Planning Functions Strategic Planning -mission statement, business objectives and goals, strategies to realize objectives and goals, resources(money and people), “what needs to be done” Tactical Planning Operational Planning – implement strategic plan tactics, coordinate and allocate resources establish methods and procedures, establish timeline, evaluate and review it,
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This note was uploaded on 04/04/2008 for the course BUS 1750 taught by Professor Reck during the Spring '07 term at Western Michigan.

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Business notes2 - The role of management Management the...

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