INTRODUCTION TO BUSINESS

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20 Νοε 2013 (πριν από 3 χρόνια και 7 μήνες)

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Copyright by Paradigm Publishing, Inc.

INTRODUCTION TO
BUSINESS

CHAPTER 7

Managing Effectively

Copyright by Paradigm Publishing, Inc.

Levels of Management


Top (high
-
level) management: managers in positions such as
president, chief executive officer, chief financial officer, and vice
-
president who make decisions regarding the firm’s long
-
term
objectives.



Middle management: managers who are often responsible for the
firm’s short
-
term decisions.



Supervisory (first
-
line) management: managers who are usually highly
involved with the employees who engage in the day
-
to
-
day production
process.


Copyright by Paradigm Publishing, Inc.

Functions of Managers



Planning: the preparation of a firm for future
business conditions


Mission statement: a description of a firm’s
primary goal


Strategic plan: identifies a firm’s main business
focus over a long
-
term period, perhaps three to
five years.


Tactical planning: smaller
-
scale plans (over one
or two years) that are consistent with the firm’s
strategic (long
-
term) plan


Comparison of Responsibilities among Managers

Copyright by Paradigm Publishing, Inc.

Copyright by Paradigm Publishing, Inc.

Business plan

Mgt., Mktg., Fin, International


Short term : 12 months





Intermediate: 2
-
5 years


Long Term : 5 +


BE SURE THEY ARE MEASUREABLE (Use numbers
and dollars!)

Functions of Managers

Employers
commonly attempt
to establish tactical
plans that are
consistent with the
strategic plan.
They also develop
plans that are
intended to satisfy
the tactical plans.

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How Planning Functions are Related

Copyright by Paradigm Publishing, Inc.

Copyright by Paradigm Publishing, Inc.

Functions of Managers


Planning


Organizing


Leading: the process of influencing the
habits of others to achieve a common goal.


Initiative: the willingness to take action.

Copyright Paradigm Publishing, Inc.

Functions of Managers


Leadership Styles


Autocratic: a leadership style in which the leader
retains full authority for decision making.


Free
-
rein: a leadership style in which the leader
delegates much authority to employees.


Participative: a leadership style in which the
leaders accept some employee input but usually
use their authority to make decisions.


PATERNALISTIC


seniority based,
fatherly/motherly, family, union

Functions of Managers

How
Leadership
Style Affects
Employee
Influence on
Management
Decisions

Copyright by Paradigm Publishing, Inc.

Copyright by Paradigm Publishing, Inc.

Functions of Managers


Controlling: the monitoring and evaluation of
tasks.


Control by Investors


Control of Reporting

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Managerial Skills


Conceptual Skills


Interpersonal Skills: the skills necessary to
communicate with customers and employees.


Communication with Customers


Communication with Employees


Technical Skills


Decision
-
Making Skills

Please take note…..

Time Management

Priorities

Intervals

Interruptions

Goals

Delegate

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How Managers Manage Time


Time Management: the way managers
allocate their time when managing tasks.


Set Proper Priorities


Schedule Long Time Intervals for Large
Tasks


Minimize Interruptions


Set Short
-
Term Goals


Delegate Some Tasks to Employees