1. Learning to Manage The Management Process

2. Objectives Explain the management process Identify your resources, recognize their limits, and apply techniques to make the most of them.

3. Management Process Management –wisely using means to achieve goals. The means used are recourses. Resources may be time, objects, services or abilities

4. Management Process Identify your goals Recognize your personal priorities and standards. Determine your resources Form a plan Implement the plan. Evaluate the results.

5. Process Nonhuman resources are not physically or mentally part of a person, time, money, possessions, and community resources. Human resources come from within people. They include skills, knowledge, talents, energy, and people themselves.

6. Management process Resource Limitations Flexibility of resources 1.Substituting resources 2.Combining resources 3.Exchanging resources

7. Management process Form a plan For your plan by deciding exactly what steps to take to reach your goal Determine standards for each step in your plan Set deadlines

8. Management Process Implement the plan, putting your plan into action. For a long-term goal you might want to divide large tasks into several smaller tasks that are easier to accomplish. Evaluate the results.

9. 10-2 Managing Your Time Explain the importance of time management List some ways to help manage time. Time management is the ability to plan and use time well. About self-management

10. Benefits of managing your time Meet your deadlines Ready to face each day’s responsibilities Put small periods of time to good use so none is wasted Complete your short term goals, Work toward long-term goals and even find time for visionary goals.

11. Goals Short-term goals are immediate aims for today and this week. Long-term goals take more than a month or even a year to achieve These goals require considerable thought and preparation. Visionary Goals-a goal that inspires people to do more than they thought they were capable of achieving.

12. Steps in Time Management Planning 1.Get organized 2.Consider goals and personal priorities 3.Make to-do list 4.Create a weekly plan Implement the plan Evaluating the plan

13. Managing Time Wisely Using time Management Aids Using time management strategies 1.Steer clear of time wasters 2.Avoid procrastination 3.Combine tasks whenever possible 4.Break tasks into smaller steps 5.Compensate for lost time 6.Be prepared to use spare time

14. Energy and task Management Balancing personal, family, work, and leisure time

15. 10-3 Managing Your Money Prepare a personal budget List ways to reduce flexible expenses Explain how a computer can be used to help manage money. Budget Fixed expenses Flexible expenses

16. The Basics of Budgeting Budget is a plan to help you manage your money wisely. Budgets are designed to reflect income and expenses for a given period of time. 1.establish financial goals 2.Determine sources of income 3.Estimate expenses 4.Compare income and expenses

17. The Basics of Budgeting 5. write the budget and keep records 6.Evaluate the budget Reducing flexible expenses Budgeting with a computer

18. 10-4 Using Financial Services Describe various services offered by financial institutions Write and endorse checks correctly Balance a checkbook Certified check Cashier’s check Endorse Account statement overdraft

19. Choosing a Financial Institution Financial services 1.Saving accounts 2.Checking accounts 3.Debit cards 4.Automated teller machines 5.Loans 6.Certified and cashier’s checks 7.Safe-deposit boxes

20. Types of Institutions Commercial banks Mutual savings banks Savings and loan associations Credit unions

21. Using a Checking Account Types of accounts Minimum amount to open the account Interest accounts but must maintain a certain balance Pay services charges

22. Using a Checking Account Opening an account and Making a deposit 1.Signature card Writing a check 1.Date 2.Name of the individual or group 3.Amount of payment in numerals 4.Amount of payment in words 5.Purpose of the check 6.Your signature

23. Endorsing a check Endorse means you must sign Blank endorsement is the payee’s signature only. Restrictive endorsement states specifically what is to be done with the check Pay to the order of names the person who will endorse the check.

24. Balancing Your Checkbook Account statement Canceled checks Outstanding checks Compare statement to check register Mark off any deposits Add in interest if you have that type of account

25. Balancing checkbook Write the closing balance List the deposits you have made Add the amounts from steps a1 and 2 and record the totals. List by number and amount all outstanding checks and withdrawals. Find the total and record it. Subtract the total in step 4 from that in step 3. The difference should match the balance shown in your checkbook.

26. Balancing your checkbook Do promptly is wise Overdrafts these are checks written when there is not enough money in the account to cover them. Most financial institutions fine account holders for writing overdrafts. Many businesses also fine customers who write overdrafts.

27. Saving for the Future Explain why it is important to save money List five factors to consider when deciding how to save Describe various types of savings accounts Determine why people need to plan their estates.

28. Saving for the Future Why save? Factors in deciding how to save Saving accounts Certificates of deposit Decisions about securities Stocks Bonds Mutual funds

29. Planning an estate Estate is what a person leaves behind when he or she dies Will is a legal document describing how a person wants his or her property to be distributed after death. It specifies who will be in charge of carrying out the deceased person’s wishes.

30. 10-6 insurance needs Insurance is a risk-sharing plan Life insurance Health insurance Automobile insurance Housing-related insurance