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Chapter Eight

PRIDE HUGHES KAPOOR INTRODUCTION TO BUSINESS ELEVENTH EDITION. Chapter Eight. Understanding the Management Process . 8 | 1. Learning Objectives. Define what management is Describe the four basic management functions: planning, organizing, leading and motivating, and controlling

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Chapter Eight

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  1. PRIDE HUGHES KAPOOR INTRODUCTION TO BUSINESS ELEVENTH EDITION Chapter Eight Understanding the Management Process 8 | 1

  2. Learning Objectives • Define what management is • Describe the four basic management functions: planning, organizing, leading and motivating, and controlling • Distinguish among the various kinds of managers in terms of both level and area of management • Identify the key management skills of successful managers • Explain the different types of leadership • Discuss the steps in the managerial decision-making process • Describe how organizations benefit from total quality management 8 | 2

  3. The Main Resources of Management • Know the Four Main Resources of Management • How do these resources contribute to organizational goals? • What is the manager’s role in obtaining and utilizing these resources? 8 | 3

  4. What Is Management? • Define • Management • Material Resources • Human Resources • Financial Resources • Information Resources 8 | 4

  5. Basic Management Functions • What is the Management Process? • Know the steps involved and be able to describe them • Planning • Mission • Strategic Planning • Establishing Goals and Objectives 8 | 5

  6. Goals and Objectives • Define • Goal • Objective • Know what characterizes properly set goals 8 | 6

  7. Planning (cont’d) • Know the elements of and be able to utilize SWOT analysis • What are a firm’s • Strengths • Weaknesses • Opportunities • Threats • Define Core Competencies 8 | 7

  8. Plans • Define Plan • Know and be able to define different types of plans • Strategic plan • Tactical plan • Operational plan • Contingency plan • Who is responsible for each type of plan? 8 | 8

  9. Organizing the Enterprise • Define Organizing • Be able to define and distinguish between • Leading • Motivating • Directing 8 | 9

  10. Controlling Ongoing Activities • Define Controlling • What is the Control Function? 8 | 10

  11. Kinds of Managers • Know the three Levels of Management • Do different levels of management work together or in isolation? • What are the main areas of Management Specialization? 8 | 11

  12. Areas of Management Specialization • Financial Managers • Operations Managers • Marketing Managers • Human Resources Managers • Administrative Managers (General Managers) • What are each of these managers’ responsibilities? 8 | 12

  13. Key Skills of Successful Managers • Know and be able to define the Key Management Skills • Conceptual Skills • Analytic Skills • Interpersonal Skills • Technical Skills • Communication Skills 8 | 13

  14. Leadership • What is Leadership? • What role does leadership play in management? • Are leading and managing the same thing? • Know the difference between Formal Leadership and Informal Leadership 8 | 14

  15. Styles of Leadership • Describe the different leadership styles • Autocratic • Participative • Entrepreneurial • Be able to discuss which leadership style is best in different situations • On what does effective leadership depend? • Be prepared to discuss some of the traits of successful leaders 8 | 15

  16. Managerial Decision Making • Define Managerial Decision Making • What are the major steps in the managerial decision-making process? 8 | 16

  17. Identifying the Problem or Opportunity • Define • Problem • Opportunity • Be able to discuss problem-solving impediments 8 | 17

  18. Generating Alternatives • Know how managers generate alternatives when problem solving • How do managers select an alternative? • What is Satisficing? 8 | 18

  19. Implementing and Evaluating the Solution • What does implementing and evaluating the solution require? • What are a manager’s options if a problem still exists after implementing a solution? 8 | 19

  20. Managing Total Quality • Define • Total Quality Management (TQM) • Benchmarking • What are the aims of TQM? • What are the issues that are most crucial to TQM? 8 | 20

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