Concept of management

Human resources

All of a business's employees. Many businesses believe that employees are their most important resource because without workers, the business could not function

Financial resources

All of the sources of money available to the business.

Levels involves with human resources

All, top managers are mainly concerned that there are enough qualified employees to meet the business's needs. Beyond that point, middle and supervisory managers are usually responsible for human resources

Components of conceptual skills

Anticipate how a change in one department could impact all the others, understand how the organization fits into its environment, know how the company affects and is affected by its industry, its community, and the economy

First-line (supervisory) management, responsibilities

Carrying out the actions and plans that the middle managers identified

Considerations in staffing

Deciding what skills will be needed in the future, what training the business should provide to new employees, determine whether current employees need additional training and professional development so that the business can stay competitive, think about how the company can nurture the growth of potential new managers within its workforce.

Planning

Deciding what work will be done and how it will be accomplished

Importance of financial resources

Determines whether the business succeeds or fails

Top level, executive management components

Develop a vision of what the business should be and decide where the business is headed, set the organization's goals, communicate those goals to everyone else, conducting strategic planning, monitor the business's performance and may make decisions about whether to develop new products or expand into new markets

Benefit of developing "team spirit"

Employees who work together well are often motivated to do more than those who work alone

Mid-level (middle) management, components

Especially active in the planning, organizing, and controlling functions of management. The planning that they do is more tactical in nature,

Information resources

Facts, statistics, and opinions. Can be internal or external

Components of directing

Guide employees in carrying out the work, motivating and leading workers to accomplish the business's goals

Mid-level (middle) management, skills

Healthy dose of all three

Importance of organizing

Helps get the work done efficiently because employees know what their jobs are and who their supervisors are

Benefit of controlling

Helps manage finances

Why is it important for managers to understand the work being done

Helps managers know how workers should do their jobs, helps them be realistic about what workers can do, time it takes, set standards and encourage employees to be productive and do their best

Staffing

Helps the business find employees who know how to do the necessary work

Resources managed

Human resources, financial resources, material resources, and information

Steps to apply conceptual skills

Identify and define problems and opportunities for business improvement, use whatever information is available, along with their own creativity, to generate possible options and solutions, weigh the choices, select the best method for solving the problem or grasping the opportunity

Steps of staffing

Identify the types of skills that employees need to have, develop ways to recruit and hire the most qualified people, and assigning new employees to specific work areas/ determining compensation for workers

Mid-level (middle) management, examples

Implementing the goals set by top management

Mid-level (middle) management, responsibilities

Implementing the goals set by top management

Management

Logical process of coordinating resources, such as money and employees, to accomplish an organization's goals

Responsibilities of managers

Make sure the work gets done, oversee the entire operation and make sure there are enough employees on hand, hire and train the employees, handle the finances, deal with suppliers, and obtain the resources needed

Who is responsible for management

Managers

Interpersonal skills

Managers must work with others to be successful. Therefore, they need to be able to communicate, interact, and build relationships

Technical skills

Managers need to be able to answer questions, give directions, and solve problems, must understand various work processes, and they should know how to use the specialized tools required for these processes, overall knowledge of business

Components of material resource managing

Managing material resources involves purchasing and maintaining the right type and amount of equipment and supplies for workers to use in doing their jobs

Components of controlling

Monitoring and measuring employees' performance, identifying problem areas, and making corrections when necessary

Controlling

Monitoring the work effort. Managers coordinate the business's activities to make sure that the company is performing effectively and achieving its goals

First-line (supervisory) management, characteristics

More than other two levels, promoted from within,

Why is management important

Nothing would get done without management

First-line (supervisory) management, examples

Office manager, floor supervisor, shift supervisor, and team leader

Top level, executive management examples

Owners, chief executive officers, presidents, chief financial officers, vice presidents, and general managers

Jobs of middle management

Plan how to find the best site, decide how to recruit qualified employees, and determine how to attract customers

Controlling and planning link

Planning sets the goals and controlling checks to make sure the goals are being met

5 functions of management

Planning, organizing, directing, controlling, staffing

Directing

Providing guidance to workers and work projects. Managers set the direction for the business and influence employees to follow in that direction

Mid-level (middle) management, characteristics

Report to top managers, but also have lower level supervisors who report to them. Therefore, they are in the middle and are considered the link between top-level and first-line management

Top level, executive management responsibilities

Responsible for the operation of the entire organization, highest paid because they have the most authority and the most responsibility

Steps of organizing

Review the plans that they have made, determine the jobs that need to be performed, group those jobs into departments and establish lines of authority

Ways managers encourage workers

Rewarding them for their hard work; Bonuses, pay raises, and promotions

Steps of planning

Set goals, identify methods of achieving those goals and the resources required to carry out the plans, set dates for completing tasks and projects

How do managers carry out controlling

Set performance standards and evaluate employees against these standards, if managers find there are problems, they make corrections, managers try to anticipate problems before they occur and take preventive action to avoid any difficulties

Organizing

Setting up the way the business's work will be done

Tactical planning

Short-term plans to carry out within the next year

What should a chosen method to solve a problem be

Should be what is best for the whole organization, not for just one department or person

First-line (supervisory) management, components

Spend most of their time staffing, directing, and controlling and are generally responsible for the day-to-day activities of the employees who do the routine work of the business.

Top level, executive management skills

Strong conceptual and decision-making skills because they are responsible for organizational goal setting

First-line (supervisory) management, skills

Technical

Three skills of managers

Technical, interpersonal, and conceptual

Conceptual skills

The ability to see the "big picture." Managers must be able to look at the organization as a whole and understand how its various parts are interrelated

Material resources

The equipment and supplies that businesses need to produce and/or sell their products.

Types of financial resources

These resources might include the cash the business has on hand, income from sales or investments, a line of credit that allows the business to borrow funds as needed, or money owed to the business by its customers

Importance of strategic planning

They plan strategies to achieve the goals over a long period of time

Jobs of first-line (supervisory) management

They train employees, assign work to these employees, evaluate employees' job performance, and maintain respect and discipline among the employee

Importance of managing resources

To achieve their goals businesses must manage resources, to do so, all levels of management need to carry out their unique responsibilities and work together

Importance of conceptual skills

To think creatively and make wise decisions

Levels material resources

Top managers are seldom involved directly with these activities, pass onto middle, rely on first-line managers to give them information about the equipment and supplies that workers need

Levels involves with financial resources

Top managers have final responsibility for the profitability of the business, middle managers are the ones who develop budgets, oversee accounting departments, and coordinate investment programs, front line monitor expenses

Sources of information

Top managers often receive information from outside sources, such as advertising firms. They also get information from their own middle managers, who may get information from front-line managers, who may get information from their employees, who may get information from customers

Levels of management

Top-level (executive) management, mid-level (middle) management, and first-line (supervisory) management

Examples of interpersonal skills

Treat employees fairly, listen to their concerns, understand that employees are essential for business success, and clearly communicate their ideas and expectations to employees so that the workers can be productive

Why is communication important

Workers cannot be expected to accomplish the business's goals if they don't know what the goals are or understand the procedures they should follow to achieve the goals