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Sep.17 2013.docx

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Matthew Archibald

ADM1300 B Sep. 17 , 2013 YUJIE YI #7038840 Chapter #7 Managers and Managing Definition of Management  The process of using resources to achieve goals effectively and efficiently (the goal decides results)  Manager – the person responsible for supervising resources to achieve goalsvel managers need to have technical skills) Measuring managerial performance  Efficiency – the amount of resources incurred to produce goods and services (doing things right)  Effectiveness – how well the organization is doing in meeting its goals (doing the right things) Managerial Functions  Henri Fayol was the first to describe the 4 managerial functions  Noted that all managers must perform: - Planning - Organizing 1/7 - Leading - Controlling Planning  Used to select goals and a course of action  5 steps: - Establish goals - Is there a gap? - Develop plan (how to improve the revenue by %) - Implement plan - Assess Organizing  Structuring workplace to achieve goals  Mobilize resources, arranging work  Creates organizational structure - A formal system of relationships th ADM1300 B Sep. 17 , 2013 YUJIE YI #7038840 - Example: functional vs. geographic Directing/ Leading  Managers articulate vision/ strategy of organization  Must use: power, persuasion, communication, and motivation (allow employees to communicate with you as well)  The result: - Employees work in harmony - Employees perform at a high level Controlling  Essential to assess outcomes  Evaluates how organization is doing in achieving goals  Steps - Set performance standards, monitor performance, compare actual with standards, make corrections  Also allows managers to measure themselves in other 3 areas 3/7 The Planning Function Steps in Planning Process Define Mission Evaluate and Assess
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