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RSM100Y1 (431)
Chapter 7

Chapter 7 Management.docx

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University of Toronto St. George
Rotman Commerce
Michael Khan

Chapter 7 Management Leadership and the Internal Organization What is management Management is the process of achieving organizational goals through people and other resources The managers job is to combine human and technical resources in the best way possible to achieve the companys goals The management hierarchyA firms management usually has three levels top middle and supervisory These levels of management form a management hierarchy The hierarchy is the traditional structure found in most organizations Managers at each level perform different activities The highest level of management is top management Top managers include such positions as chief executive officer CEO chief financial officer CFO and executive vicepresident Top managers spend most of their time developing longrange plans for their organizations Top managers set a direction for their organization The job isnt easy Many top managers must steer their firms through an economic downturn a slump in sales or a crisis in quality Middle management is the second level in the management hierarchy It includes general managers plant managers division managers and branch managers Middle managers focus their attention on specific operations products or customer groups They develop detailed plans and procedures to carry out the firms strategic plans Middle managers are more familiar with daytoday operations than CEOS Thats why middle managers often come up with new ways to increase sales or solve problems Supervisory management or firstline management includes supervisors section chiefs and team leaders These managers assign specific jobs to nonmanagerial employees and assess their performance Managers at this first level of hierarchy work directly with the employees who produce and sell the firms goods and services Skills needed for managerial success Managers at every level in the management hierarchy use three basic types of skills technical human and conceptual All managers must acquire these skills but the importance of each skill changes at each management level Technical skills are the managers ability to understand and use the techniques knowledge tools and equipment of a specific department or area of study Technical skills are especially important for firstline managers Most top executives started out as technical experts Human skills are interpersonal skills that help managers to work effectively with people Human skills include the ability to communicate with motivate and lead employees to complete their assigned activities Managers need human skills to interact with people both inside and outside the organization Human skills must be adapted to different forms
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