Understand marketing and business management.

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Presentation transcript:

Understand marketing and business management. Essential Standard 7.00 Understand marketing and business management.

Objective 7.03 Recognize management’s role to understand its contribution to business success.

Management

Management What is the role of a manager? Describe the five functions of management: Planning Organizing Staffing Implementing Controlling What is the role of a manager? Managers are responsible for management of a business to accomplish goals by effectively using people and other resources. Describe the five functions of management: Planning To analyze information, set goals based on information, and make decisions to accomplish the goals Organizing To arrange resources in order to accomplish the goals of the business Staffing To obtain, train, and compensate employees to accomplish the goals of the business Implementing To direct and lead people to accomplish the goals of the business Controlling To determine whether a business is accomplishing its goals that were set in the planning stage.

Management continued What are the different levels of management? Top-Level Management Strategic planning Mid-Level Management Planning, organizing, controlling First-Line Management Staffing, directing, and controlling (Management by others) Explain the responsibilities of each level of management Top-Level Managers- Responsible for the entire organization; conduct strategic planning. Mid-Level Managers- Conduct tacticle planning; Spend time doing planning, organizing, and controlling activities. First-Line Managers- Spend most of their time doing staffing, directing and controlling activities. (Management by others) Other employees who are not managers, may serve as leaders for a group of employees

Management continued What is management style? Describe the different types of management styles: Tactical Strategic Mixed What is management style? The way a manager directs employees to accomplish the goals of the business. Describe the different types of management styles: Tactical Directed and controlling Typically, use for inexperienced employees or during a crisis Strategic Less directed with employees helping with decision making Typically, used with trusted and/or experienced employees Mixed Combination of both tactical and strategic