business notes - Managers and managing Definition of...

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Unformatted text preview: Managers and managing - Definition of management- Managerial functions- Managerial roles- Managerial skills Definition • The P.O.L.C of resources to achieve goals effectively and efficiently • Manager – the person responsible for supervising resources to achieve goals Managerial Functions • Henry fayol was the first to describe the 4 managerial functions • Noted that all managers must perform: Planning, organizing, leading, controlling Planning- The portion of a manager’s job concerned with determining what the business need to do and the best way to achieve it. • Used to select goals and course of action • 5 steps 1. Establish goals Ex. A commercial airline may set a goal to fill every seat on a plane. 2. Is there a gap between the company’s desire and its actual position? Ex. A year- end financial analysis will reveal whether a company met its profitability objectives 3. Develop a plan to achieve the desired objective. Objectives indicate what results are desired, whereas plans indicate how these objectives are to be achieved. 4. Implement plan- thinking is converted into action 5. Asses- compare actual results with planned performance Organizing: The portion of the manager’s job concerned with mobilizing the necessary resources to complete a certain task. • Structuring workplace to achieve goal. • Creates organizational structure- A formal system of relationships- Example. Functional vs. Geographical Leading: The portion of the manager’s job concerned with guiding and motivating employees to meet the firm’s objectives. • Managers articulate vision/ strategy of org. • Must use: power, persuasion, communication, and motivation • The result:- Employees work in harmony- Employees perform at a higher level Controlling: the portion of the manager’s job concerned with monitoring the firm’s performance and, if necessary, acting to bring it in line with the firm’s objectives. • Essential to evaluate • Evaluates how organization is doing in achieving goals • Allows organization to regulate efficiency and effectiveness • Also allows managers to measure themselves in other 3 areas Managerial Roles • Described by Mintzberg- A role is a set of specific tasks a person performs because of the position they hold • Roles directed inside (employees) as well as outside (shareholders, etc) the organization - Interpersonal - Informational- Decisional Levels of management: top manager’s, middle managers, first line managers Areas of management: marketing, financial, operations, human resource, information, other Interpersonal Roles • Coordinate and interact with employees and provide direction to the organization- Figurehead role: symbolizes the organization- Leader role: train, counsel, mentor, and encourage reaching full potential- Liaison role: coordinate people inside and outside the organization to help achieve goals Informational Roles Tasks associated with obtaining and transmitting information- Monitor: an alyses info. Inside a nd outside organizationMonitor: an alyses info....
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This note was uploaded on 03/17/2011 for the course ADM 1300 taught by Professor Koppel during the Spring '08 term at University of Ottawa.

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business notes - Managers and managing Definition of...

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