Business Management  Preview Section 1.1 and look for: Definition of Management 3 Levels of Management 3 Ways to review Management Process

Business Management  Management = process of deciding how to best use a business’s resources to produce goods or provide services. A business’s resources include its employees, equipment and money (also: natural, human, capital resources)

Business Management  3 Levels of Management Senior Middle Supervisory

Business Management  How to view the Process? 1. Management Tasks … plan, organize, staff, lead, control 2. Management Roles … interpersonal, information-related, decision-making 3. Management Skills … conceptual, HR, technical

Thursday, January 29, 2015  Professional managers = senior, middle, and supervisory level managers; paid to perform management functions within a company  Entrepreneurs = people who launch and run their own businesses  LinkedIn founder discusses the difference: lInfo.html?mid=1690

Thursday, January 29, 2015  Characteristics of an Entrepreneur: Possesses risk vs. reward mentality More independent Less formal education Create and modify products/services Make decisions and be their own boss

Thursday, January 29, 2015  Small Business = company that is independently owned and operated  List out examples …..

More on Small Businesses and Entrepreneurs  Mark Cuban  Represents a unique example of an entrepreneur with his ventures and personality  tml  LGRTgy8

More on Small Businesses and Entrepreneurs  Franchisees can represent best of small business and entrepreneurship.  Take George Forrest, a McDonalds franchise owner in Charlotte, NC  x7DPTFM

Tuesday, February 3, 2015 Class Starter  We are starting Chapter on Management Movement which covers history of management.  Read pp  Write out all highlighted definitions.  Draw a timeline from and include 5 major events that you read about.

Tuesday, February 3, 2015  Scientific Management By Frederick Taylor ( ) Increase productivity and make work easier === look at best practices (procedures and methods) 4 main ideas  1. Scientific rules for design  2. Scientific methods to select/train  3. Scientific management principles  4. Interdependence of mgment and workers

Tuesday, February 3, 2015  Maslow’s Hierarchy of Needs

Wednesday, February 4, 2015  Yesterday Timeline Scientific Management Maslow’s Hierarchy of Needs

Wednesday, February 4, 2015  Key terms  Theory X  Theory Y  Centralization  Decentralization  TQM and include 5 of Dening’s 14 points  Theory Z