Chapter 7 Study Guide

19 views4 pages
Published on 6 Apr 2011
School
UTSC
Department
Management (MGT)
Course
MGTA01H3
Professor
Chapter 7: Managers and Managing
Management: is the process of planning, organizing, leading, and controlling a businesss
financial, physical, human, and information resources in order to achieve its goals.
Planning: that portion of a manager’s jobs concerned with determining what the business needs
to do and the best way to achieve it.
Organizing: that portion of a manager’s job concerned with mobilizing the necessary resources
to complete a particular task.
Leading: that portion of a manager’s job concerned with guiding and motivating employees to
meet the firms objectives.
Controlling: that portion of a manager’s job concerned with monitoring the firms performance
and, if necessary, acting to bring it in line with the firms goals.
Levels of Management:
Senior Managers: Those managers responsible for a firms overall performance and
effectiveness and for developing long-range plans for the company.
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Document Summary

Management: is the process of planning, organizing, leading, and controlling a business"s financial, physical, human, and information resources in order to achieve its goals. Planning: that portion of a manager"s jobs concerned with determining what the business needs to do and the best way to achieve it. Organizing: that portion of a manager"s job concerned with mobilizing the necessary resources to complete a particular task. Leading: that portion of a manager"s job concerned with guiding and motivating employees to meet the firm"s objectives. Controlling: that portion of a manager"s job concerned with monitoring the firm"s performance and, if necessary, acting to bring it in line with the firm"s goals. Senior managers: those managers responsible for a firm"s overall performance and effectiveness and for developing long-range plans for the company. Middle managers: those managers responsible for implementing the decisions made by top managers. First-line managers: those managers responsible for supervising the work of employees.