2. Read to Learn
Describe the overall purpose of management.
Discuss the four functions of management.

3. Key Concepts
Introduction to Management
The Four Functions of Management

4. Discussion Starter
Review the definition of management and the processes or functions of planning, organizing, leading, and controlling. Why is management necessary?

5. Introduction to Management
If a firm has employees, then some type of management is necessary.
Managers can help by supervising and directing employees.
management
the process or functions of planning, organizing, leading, and controlling

6. Management Responsibilities
Meeting Goals Efficiently
Focusing on Setting Goals
Profit Made

7. The Four Functions of Management
The four functions of management are:
Planning
Organizing
Leading
Controlling
Some managers may primarily focus on one or two of these functions.

8. Figure 7.1
Management Functions

9. The Four Functions of Management
A challenge for many managers is dealing with multiple objectives, each at a different functional level.
Example: producing a new comic book. Marketing team needs to research the market (both national and global) Production team needs to prepare and produce. Manager needs to organize, analyze and monitor project to make sure the production process works efficiently and effectively.
Communicating with employees at all times helps assure that objectives are met.

10. Planning
Planning involves figuring out the resources that are needed and the standards that must be met.
planning
the act or process of creating goals and objectives as well as strategies to meet them

11. Organizing and Staffing
A manager is responsible for organizing people, work processes, and equipment.
Managers also hire and train employees and fire them when necessary.
Managers are responsible for making sure employees have all the tools they need to do their jobs well.
organizing
getting the resources arranged in an orderly and functional way to accomplish goals and objectives

12. Organizing and Staffing
A manager may be involved in creating an organizational chart.
organizational chart
a chart that shows how the firm is structured and who is in charge of whom

13. Organizational Chart

14. Organizing and Staffing
A small firm may have only one top-level manager.
In larger companies, it can be composed of a CEO, president and at least one vice president.
top-level manager
a manager who is responsible for setting goals and planning for the future as well as leading and controlling the work of others

15. Organizing and Staffing
Middle managers are responsible for the organizing, leading and controlling the work of others for various departments in a business. Ex: Accounting, marketing, production
middle manager
a manager who carries out the decisions of top managers

16. Organizing and Staffing
Supervisors, office managers, and crew leaders are types of operational managers.
Main duties include overseeing workers and meeting deadlines.
operational manager
a manager who is responsible for the daily operations of a business

17. Leading Leading involves: Setting standards Delegating work
Enforcing policies
Resolving conflicts
leading
providing direction and vision

18. Showing a Strong Work Ethic
Graphic Organizer
How Good Managers Lead by Example
Showing Respect
Showing Honesty
Showing Loyalty
Showing Courtesy
Showing a Strong Work Ethic
Showing Motivation
Showing Initiative
Showing Cooperation
Showing Punctuality

19. Controlling
Controlling involves several tasks, including monitoring customer satisfaction.
controlling
keeping the company on track and making sure goals are met

20. Graphic Organizer Controlling Keeping track of budgets
Keeping track of schedules
Monitoring the quality of products or services
Monitoring and reviewing employee performance
Taking corrective action when goals are not met
Monitoring customer satisfaction

21. Incentive Plans
Some companies try to motivate employees with incentives such as on-site child care and bonuses.

22. End of