Management of the Business Firm

1. Next class – Read Chapter 7 (pp 186-205)  & Quiz #1 Last day to drop full-year courses or change second-term courses is Jan 15th Visit BSAD 102 website at http://people.stfx.ca/mmoxner/BSAD102.html Management of the Business Firm

2. The Organization, Its Marketplace and The Broader Environment Broader Environment Marketplace Organization

3. The Organization The Organization General A Common Purpose A Common Strategy Management Business Functions Marketing Managers Financial Managers Operations Managers Human Resource Managers Information Managers Other Functions Resources People Money/Capital Raw Materials Equipment & Supplies Facilities & Land Intellectual Property Information

4. The Organization: Functions • Finance manager - Plan and oversee financial resources • Marketing manager - Responsible for developing, pricing, promoting, and distributing goods and services to buyers • Human resources manager - Hire, train, evaluate, and compensate employees • Information managers - Design and implement systems to collect, process, and organize information needed to make decisions • Operations managers - Control production, inventory, and quality

5. The Organization: Functions

6. The Management Process • “Management is the process of planning, organizing leading and controlling and enterprise’s financial, physical, human and information resources to achieve the organization's goals of supplying various products and services.” p. 165

7. The Management Process (PLOC) • Planning – Determining what the organization needs to do and how best to get it done. • Leading – Activities involving interaction between mangers and their subordinates to meet the firm objective. • Organizing – The process of deciding which function must be performed and how these function should be coordinated so that organizational goals are reached. • Controlling – Monitoring the firm’s performance to make sure that it stays on track toward its goals.

8. The Management Process Management Planning Organizing Leading Controlling Achievement of Goals & Objectives Feedback

9. The Management Process (PLOC) @ SDM

10. Management Skills • Technical - The ability to do specialized tasks such as keyboarding, artwork, accounting, marketing etc • Human relations - “People skills” that enable managers to understand employees’ needs • Conceptual - The ability to view problems creatively and abstractly, and to accurately analyze situations • Decision-making • Time management

11. Mike Bikes Simulation • Mike’s Bikes Simulation begins in lab on Jan 24th • Simulation requires group decisions about strategy, marketing, accounting, financing, operations, etc. • Due: • Jan 12th by 5:00pm: Submit Names, ID#'s and E-mail of group members for Mike's Bikes Simulation via e-mail or hard copy • $40.00 by next Wednesday for Simulation