Management notes

Management notes - Management Ch. 1 The Exceptional...

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Management Ch. 1 The Exceptional Manager: What You Do, How You Do it 1.1  Organization ---a group of people who work together to achieve some specific purpose. Managemen t is defined as   the pursuit of organizational goals and effectively by    integrating the work of people through   planning, organizing, leading, and controlling   the organization’s resources. Efficiency ---the means. To be efficient means to use resources---people, money, raw  materials, and the like---wisely and cost-effectively. Effectiveness ---the ends. To be effective means to achieve result, to make the right  decisions, and to successfully carry them out do that they achieve the organization’s   goals. 1.2 Competitive advantage  is the ability of an organization to produce goods or services   more effectively than competitors do, thereby outperforming them. Innovation ---finding ways to deliver new or better goods or services. e-commerce , or electronic com merce---the buying and selling of goods or services over   computer networks. e-business ---using the Internet to facilitate every aspect of running a business. 1.3 Management process  also called the  four management functions planning, organizing, leading, and controlling. Planning  is defined as setting goals and deciding how to achieve them. Organizing  is defined as arranging tasks, people and other resources to accomplish the   work. Leading  is defined as motivating, directing, and otherwise influencing people to work   hard to achieve the organization’s goals. Controlling  is defined as monitoring performance, comparing it with goals, and taking   corrective action as needed. 1.4 Top managers  make long-term decisions about the overall direction of the organization  and establish the objectives, policies, and strategies for it. Middle managers  implement the policies and plans of the top managers above them and  supervise and coordinate the activities of the first-line managers below them. First-line managers make short-term operating decisions, directing the daily tasks of  nonmanagerial personnel. Function manager  is responsible for just one organizational activity.
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General manager is responsible for several organizational activities. Managers for three types of Organizations:  For-Profit, Nonprofit, Mutual-Benefit . 1.5 Important for prospective manager through Mintzberg’s findings: 1. A Manager Relies More on Verbal than on Written Co m munication. . 2
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Management notes - Management Ch. 1 The Exceptional...

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