1-1 The Importance of Business Management

1-1 The Importance of Business Management - Companies fail...

Info iconThis preview shows pages 1–10. Sign up to view the full content.

View Full Document Right Arrow Icon
“Companies fail when they become complacent and imagine that they will always be successful. So we are always challenging ourselves. Even the most successful companies must constantly reinvent themselves. --Bill Gates Chairman and Chief Software Architect Microsoft
Background image of page 1

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

View Full DocumentRight Arrow Icon
The Importance of Business Management 1.1
Background image of page 2
The Business World Today Constant change! Technology Society Environment Competition Diversity
Background image of page 3

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

View Full DocumentRight Arrow Icon
What is Management? The process of deciding how best to use a business’s resources to produce good or provide services Employees Equipment Money
Background image of page 4
What is Management? Auto industry managers Assembly line: schedule work shifts, supervise assembly of vehicles Engineering: develop new product features, enforce safety standards General: plan for the future All organizations need managers!
Background image of page 5

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

View Full DocumentRight Arrow Icon
Levels of Management Senior management Establishes the goal/objectives of the business Decides how to use the company’s resources Not involved in the day-to-day problems Set the direction the company will follow Chairperson of the company’s board of directors, CEO, COO, senior vice presidents
Background image of page 6
Levels of Management Middle management Responsible for meeting the goals that senior management sets Sets goals for specific areas of the business Decides which employees in each area must do to meet goals Department heads, district sales managers
Background image of page 7

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

View Full DocumentRight Arrow Icon
Levels of Management Supervisory management Make sure the day-to-day operations of the business run smoothly Responsible for the people who physically produce the company's products or services Forepersons, crew leaders, store managers
Background image of page 8
The Management Pyramid
Background image of page 9

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

View Full DocumentRight Arrow Icon
Image of page 10
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 01/13/2012 for the course BUS M 201 taught by Professor Mcgregor during the Fall '11 term at BYU.

Page1 / 30

1-1 The Importance of Business Management - Companies fail...

This preview shows document pages 1 - 10. Sign up to view the full document.

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