Business Management Name __________________________ Block ____ Date __________________________ Management Functions

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20 Νοε 2013 (πριν από 3 χρόνια και 8 μήνες)

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Business Management







Name _______________________
___

Block ____








Date _______________________
___


Management

Functions


There are many opportunities to be a manager. Nothing would get done in business without management.


1. Management defin
ed
.


Definition
:




2. Managers are responsible for management.


What do Managers do?


1.

Decide how to use the business’s ______________________.


2.

Make sure the ___________ gets done.


3.

Don’t usually do the work themselves.


4.

Answer _________
_________ and solve _______________________.


5.

__________________ employees to be _________________________.


3. Functions of Management: Successful performance of these activities determines if a
b
usiness will achieve
its goal.




4. Skills Manager
s Need: Managers need certain skills to be effective.


Four main categories of needed skills:


1. ___________________
-

To explain their ideas and expectations to employees.



2. ___________________
-

To interact effectively with others.


3. _______
____________
-

To understand information and choose from many options.



4. ___________________
-

To understand how the business works.



5. Levels of Management: All businesses may have managers. Small businesses may have only one manager.
Large busin
esses may have hundreds of managers. In these businesses, there are many levels of management.
Each level has very different responsibilities and authority.




Three Levels of Management:

Top
-
Level (Executive)

(Strategic)








Mid
-
Level (Middle)

(Ta
ctical)







F
ront
-
Line (Supervisory)

(Operational)




A. Top
-
Level or Executive Management


1. Responsible for:


There are only a few top managers because they are at the highest level of the business. These managers are
the highest paid because th
ey have the most authority and responsibility. Also the ones who are blamed if the
business has a bad year and profits are down.



2. Examples of top
-
level or executive managers:







3. Major activities performed by top
-
level (executive) managers:






B. Mid
-
Level or Middle Management


1. Responsible for implementing the goals set by top management. Report to top
-
level
m
anagement and
have lower level managers who report to them (the link between them). They pass down information
from top management

and vice versa.



2. Examples of mid
-
level or middle managers:





3. Major activities performed by middle managers:





C. Front
-
Line (F
irst
-
line) or Supervisory Management


1. Responsible for the day to day activities of the employees they supervise
.



2. Examples of first
-
line managers or supervisors:




3. Major activities performed by supervisors:





6. Managers manage the business’s resources.

o

Human Resources:

o

Material Resources:

o

Financial Resources:

o

Information: