Chapter01

Chapter01 - Chapter1 TheNatureofManagement WhatisManagement?

Info iconThis preview shows pages 1–7. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 1 The Nature of Management
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
What is Management? Management is a process Planning Deciding Evaluating Management assembles and uses  resources Human Financial Material Informational
Background image of page 2
Managerial Challenges Managing Change Greek philosopher: “Change alone is  unchanging” Small wins strategy to get buy-in Technology Allows small firms to look large Allows large firms to offer better customer  Opportunities vs. black hole
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Managerial Challenges, cont. Globalization Thomas Friedman “The World is Flat” North American Free Trade Agreement  (NAFTA) Outsourcing BRIC countries Brazil, Russia, India, China The “China Price” Cultural differences
Background image of page 4
Managerial Challenges, cont. Managing Resources Managing Strategically Two questions at the corporate level: Which businesses shall we be in? How shall we allocate resources among the units? Managing Entrepreneurially Emphasizes actions to take advantage of  uncertainty Risk vs. return tradeoff
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Risk versus Return You just inherited $10 million from Aunt 
Background image of page 6
Image of page 7
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 18

Chapter01 - Chapter1 TheNatureofManagement WhatisManagement?

This preview shows document pages 1 - 7. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online