ManagingTheBusiness-pptx-Basic Management

Business Management Basic

1. MGMT6413 Introduction to Business and Economics Week 1 Managing the Business

2. LEARNING OUTCOMES LO 1 : Demonstrate basic understanding the many aspects of  business  functions

3. OUTLINE The management process Types of Managers Management Roles and Skills Strategic Management: Setting Goals and Formulating Strategy

4. Describe the nature of management and identify the four basic functions that constitute the management process. The Management Process

5. Basic Management Functions Management : process of planning, organizing, leading, and controlling an organization’s resources to achieve its goals Planning : management process of determining what an organization needs to do and how best to get it done Organizing : management process of determining how best to arrange an organization’s resources and activities into a coherent structure Leading : management process of guiding and motivating employees to meet an organization’s objectives Controlling : management process of monitoring an organization’s performance to ensure that it is meeting its goals Management Process

6. The Science of Management : Many management problems and issues can be approached in ways that are rational, logical, objective, and systematic. The Art of Management : Even though managers may try to be scientific as often as possible, they must frequently make decisions and solve problems on the basis of intuition, experience, instinct, and personal insights. The Science and the Art of Management

7. Types of Managers Identify different types of managers likely to be found in an organization by level and area.

8. Levels of Management Top Manager : manager responsible for a firm’s overall performance and effectiveness Middle Manager : manager responsible for implementing the strategies and working toward the goals set by top managers First-Line Manager : manager responsible for supervising the work of employees

9. Areas of Management

10. Management Roles and Skills Describe the basic roles and skills required of managers

11. Managerial Roles

12. Basic Management Skills

13. Strategic Management: Setting Goals and Formulating Strategy Explain the importance of strategic management and effective goal setting in organizational success.

14. Setting Business Goals Purposes of Goal Setting

15. Performance Appraisal Performance Appraisal : evaluation of an employee’s job performance to determine the degree to which the employee is performing effectively

16. REFERENCES Ronald J. Ebert and Ricky W. Griffin. (2019). Business Essentials , 12th Edition, Pearson, New York, ISBN : 9780134728391, chapter 10