3-BMGT Basics 2 .ppt

3-BMGT Basics 2 .ppt - BMGT 110 Introduction to Business...

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Unformatted text preview: BMGT 110 Introduction to Business Management BMGT Basics 2 Agenda Management functions Principals and agents Levels & roles in management Key management skills Decisions, decisions, decisions The Car Wars Product vs. market orientation Management Functions Planning Organizing Staffing Directing Controlling Principals and Agents Principals (owners, shareholders) Agents (managers, representatives) Principle-agent theory Asymmetric information - the study of decisions in transactions where one party has more or better information than the other. Motivation Incentives Levels of Management Senior or top management top-level management, CEO, COO, VPs Middle management responsible for planning and advising; department, plant or divisional managers First-line management responsible for day-to-day operations; supervisors, foremen, office managers Generic Org Chart Terms Senior/Top CEO First-Line First-Line First-Line First-Line Middle Middle Organizational Structure...
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3-BMGT Basics 2 .ppt - BMGT 110 Introduction to Business...

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