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Chapter 12

Chapter 12 – Management and Leadership.docx

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Department
Commerce
Course
COMMERCE 1E03
Professor
Rita Cossa
Semester
Winter

Description
Chapter 12Management and LeadershipManagers roles are evolving Resources a general term that incorporates human resources natural resources and financial resources Resources include the factors of productionManagement is becoming more progressive Successful management will demand a new kind of person a skilled communicator and team player as well as a planner coordinator organizer and supervisorFunctions of management Management the process used to accomplish organizational goals through planning organizing leading and controlling people and other organizational resourcesPlanning a management function that includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives Planning teams help monitor the environment find business opportunities and watch for challengesOrganizing a management function that includes designing the structure of that organization and creating conditions and systems in which everyone and everything work together to achieve the organizations goals and objectivesLeading creating a vision for the organization and guiding training coaching and motivating others to work effectively to achieve the organizations goals and objectives Directing telling employees exactly what to doGenerally occurs in smaller firmsleading occurs in bigger firmsControlling a management function that involves establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives rewarding people for doing a good job and taking corrective action if they are notThese four things are the heart of managementPlanning creating a vision based on values Planning involves setting the organizational vision values goals and objectives it is rated as the most valuable toolPart of the planning process involves the creation of a vision for the organizationVision an encompassing explanation of why the organization exists and where its trying to headGives organization a sense of purposeValues a set of fundamental beliefs that guide a business in the decisions they makeVision informs values while values come alive through vision
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