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Business Management

Section 1.1 The Importance of Business Management. Business Management. What is Management?. Management: The process of deciding how best to use a business’s resources to produce good or provide services. Resources: A business’s employees, equipment, and money. Levels of Management.

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Business Management

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  1. Section 1.1 The Importance of Business Management Business Management

  2. What is Management?

  3. Management: The process of deciding how best to use a business’s resources to produce good or provide services Resources: A business’s employees, equipment, and money

  4. Levels of Management • Senior Management: • The highest level with several important functions. • Establishes goals or objectives • Decides what actions are necessary to meet those goals • Decides how to use the company’s resources • Middle Management: • Responsible for meeting the goals that senior management sets. • Supervisory Management: • Lowest level of management that make sure the day-to-day operations of the business run smoothly.

  5. The Management Process The Management Tasks • Planning • Organizing • Staffing • Leading • Controlling

  6. Management Roles • Interpersonal Roles • A manager's relationship with people • Information related roles • Requires a manager to provide knowledge, news, or advice to employees • Decision making roles • Making changes in policies, resolving conflict, or deciding how best to use resources

  7. Management Skills

  8. Management Skills • Conceptual Skills • Help manager understand how different parts of a business relate to one another and to the business as a whole • Human Relations Skills • Help manager understand and work well with people • Technical Skills • Specific abilities that people use to perform their job

  9. Management Skills

  10. Case Analysis • Scenario • “TechCo, a software company, tried letting some employee “telecommute,” or work at home. The company’s experience was not a good one, so senior management disallowed telecommuting. Janet Jefferson, team leader for a new software broke her leg. She can work, but needs to remain at home for two weeks. Management does not want to change its policy, but Janet is the product expert.” • Question • What should TechCo do? If Janet telecommutes, will management be breaking a principle? • Can they come up with other options? • Explain your answers.

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