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AFM 131 (194)
Lecture 14

AFM 131 Lecture 14: Module 14 - Chapter 8

4 Pages

Accounting & Financial Management
Course Code
AFM 131
Bob Sproule

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Chapter 8 Management and Leadership Resources: incorporates human resources, natural resources, and financial resources; include factors of production Management: process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources 1. Organizing: includes designing the structure of the organization and creating conditions and systems which in which everyone and everything work together to achieve the organizations goals and objectives a. Organization chart: a visual device that shows the relationship among people and divides the organizations work; it shows who is accountable for the completion of specific work and who reports to whom b. Top Management: highest level of management, consisting of the president, and other key company executives, who develop strategic plans c. Middle Management: the level of management that includes general managers, division managers, and brand and plan managers, who are responsible for tactical planning and controlling d. Supervisory Management: managers who are directly responsible for supervising workers and evaluating their daily performance e. 3 categories of skills needed (top managers, middle managers, supervisory managers) i. Technical Skills: involve the ability to perform tasks in a specific discipline or department (least, middle, most) ii. HR Skills: involve communications and motivation; enable managers to work through and with people (middle, middle, middle) iii. Conceptual Skills: ability to picture the organ as a whole and the relationships among its various parts (most, middle, least) f. Organizing so customers have the greatest influence not managers 2. Planning: includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives continuous process a. Vision: an encompassing explanation of why the organization exists and where its headed
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