MG 2003
CHAPTER 1
1.1Describe the concepts of managers and management and their importance to contemporary
organizations.
Management is a set of activities – planning and decision making, organizing, leading, and
controlling – directed at an organization’s human, financial, physical, and information
resources with the aim of achieving organizational goals in an efficient and effective manner.
• Efficient
Using resources wisely and in a cost effective way.
• Effective
Making the right decisions and successfully implementing them.
• Manager
Someone whose primary responsibility is to carry out the management process
1.2Explain the four basic management functions in organizations.
§ Planning
– means setting an organization’s goals and deciding how best to achieve them.
§ Decision making
– involves selecting a course of action from a set of alternatives.
§ Organizing
– involves determining how activities and resources are to be grouped.
, § Leading
– is the set of processes used to get members of the organization to work
together to further the interests of the organization.
§ Controlling
– is monitoring organizational progress toward goal attainment.
1.3Describe the kinds of managers found at different levels and in different areas of the
organization.
§ Top managers
– are the small group of executives who manage the overall organization. They
create the organization’s goals, overall strategy, and operating policies.
§ Middle Managers
– are primarily responsible for implementing the policies and plans of top
managers. They also supervise and coordinate the activities of lower level
managers.
§ First-Line Managers
– supervise and coordinate the activities of operating employees.
Kinds of Managers
§ Marketing mangers
– sell the product and work in new-product development, promotion, and
distribution.
§ Financial managers
– undertake accounting, cash management, and investments.
CHAPTER 1
1.1Describe the concepts of managers and management and their importance to contemporary
organizations.
Management is a set of activities – planning and decision making, organizing, leading, and
controlling – directed at an organization’s human, financial, physical, and information
resources with the aim of achieving organizational goals in an efficient and effective manner.
• Efficient
Using resources wisely and in a cost effective way.
• Effective
Making the right decisions and successfully implementing them.
• Manager
Someone whose primary responsibility is to carry out the management process
1.2Explain the four basic management functions in organizations.
§ Planning
– means setting an organization’s goals and deciding how best to achieve them.
§ Decision making
– involves selecting a course of action from a set of alternatives.
§ Organizing
– involves determining how activities and resources are to be grouped.
, § Leading
– is the set of processes used to get members of the organization to work
together to further the interests of the organization.
§ Controlling
– is monitoring organizational progress toward goal attainment.
1.3Describe the kinds of managers found at different levels and in different areas of the
organization.
§ Top managers
– are the small group of executives who manage the overall organization. They
create the organization’s goals, overall strategy, and operating policies.
§ Middle Managers
– are primarily responsible for implementing the policies and plans of top
managers. They also supervise and coordinate the activities of lower level
managers.
§ First-Line Managers
– supervise and coordinate the activities of operating employees.
Kinds of Managers
§ Marketing mangers
– sell the product and work in new-product development, promotion, and
distribution.
§ Financial managers
– undertake accounting, cash management, and investments.
