Chapter 8

Chapter 8 - Introduction to Business . Minneapolis...

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Introduction to Business Instructor: Dave Skogstrom Office: Management Education Center, Room 1050 Phone: 612-659-6422 Email: www.dave.skogstrom@minneapolis.edu .
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There are almost 3 dozen exam questions that come out of this chapter. As you prepare for the exam, do not omit reviewing these chapter 8 slides. Many of the questions will be difficult and some impossible to find solely in the textbook. You can find them all listed here. The next slide will list most of the terms that will need to know from chapter 8. They are mentioned here for you aid. They will also be listed in the Study Guide that’s available to you from D2L News. Make sure you get your copy.
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Chapter 8 Terms on the Exam locate the terms here and in the textbook define mgmt/functions --POLC def. mgmt skills-tech, HR, conceptual Define planning, mission, and vision planning types--strat, tact, opl--define and char. of each contingency planning-define SWOT--define each part of process, char. of each part, know each element of Fig. 8.3 pp. 265 (lev, vulnerable, constraint, problem) organizing process organization-def and components organizational chart departmentalization: def. each type + examples Organizing Principles: delegation authority responsibility accountability centralization and decentralization chain of command Types of authority- line and staff Types of Org Structures: line line and staff matrix
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Chapter 8 Management, Leadership, and Internal Organization L e a r n i g   G o l s Define management and the skills necessary for managerial success. Explain the role of vision and ethical standards. Summarize the benefits of planning and distinguish strategic, tactical, and operational planning. Describe the strategic planning process. Contrast the types of business decisions and list the steps in the decision-making process. Define leadership and compare different styles of leadership. Discuss the meaning and importance of corporate culture. Identify forms of depart- mentalization and types of organization structures. 1 2 3 5 6 7 4 8
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WHAT IS MANAGEMENT? Management   process of using organizational resources in an effective and efficient manner to achieve organizational objectives. this process involves planning, organizing, leading, and controlling. Management is a necessity of all organizations but is most often taught in business schools The Management Hierarchy • Top management • Develop long-range strategic plans for the organization. • Middle management • Focus on specific operations, products, or customer groups within an organization. • Supervisory management • Implement the plans developed by middle managers.
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Management process of using org’l resources to achieve org’l objectives. therefore, mgmt refers to a process.
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Chapter 8 - Introduction to Business . Minneapolis...

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