The Four Functions of Management Chapter 7.1
Read and Respond There are four words written on the board: For each word, write your own definition of the word and how that word impacts your life.
Define Management Process of reaching organizational goals by working with people and other resources.
What are the four functions of management? Planning Organizing Leading Controlling
What is planning? The act or process of creating goals and objectives. Developing strategies to meet the goals. Plan an Event. Brainstorm. In your notes. You are planning a Sweet 16th Birthday Party for your BEST friend. Explain what would steps you would have to take in order to plan the BEST party for your BEST friend.
What is organizing? Getting the resources arranged in an orderly and functional way to meet the goals. Organize people, work processes, and equipment. Staffing Organizational Management Chart Shows how the business is structured Top, Middle, Operational
What is leading? Providing direction and vision. Delegating tasks and responsibilities Influencing A manager must influence employees to accomplish the goals and missions of the organization.
What is controlling? Keeping the company on track and making sure goals are met. Monitoring the progress being made by your workers. A manager not only has employees, but also a physical plant or building, inventory, and finances to consider.
Centralized vs Decentralized Centralized – puts authority in one place, with top management Decentralized – gives authority to a number of different managers
Formal Structure Departmentalized Divides responsibilities among specific departments. Can be organized by what they do, what they make, or by region. Example: Coca-Cola, Macys
Informal Structure Smaller businesses Employees more flexible and share the duties Doesn’t need a lot of management
Management Advantages Higher salary Ability to lead Greater influence and authority Plan, control, organize, and direct resources
Management Disadvantages Responsible if things go wrong High pressure