BUS 1 Chapter Notes - Chapter 11: Haymarket Media Group
Document Summary
Management is the process of guiding the development, maintenance, and allocation of resources to attain organizational goals. Managers are the people in the organization responsible for developing and carrying out this management process. Basic functions of management: planning, organizing, leading, controlling (by using the four functions, managers work to increase the efficiency and effectiveness of their employees, processes, projects, and organizations as a whole) Planning - deciding what needs to be done, identifying when and how it will be done, and determining who should do it. Organizing - process of coordinating and allocating firm"s resources to carry out plans: develops structure for people, positions, departments, and activities within firm, divide tasks (labor, group jobs and employees (departmentalization, assign authority and responsibility (delegation) To successfully carry out their functions, managers use a variety of skills; including technical, human relations, conceptual, and global management skills. Controlling - process of assessing the organization"s progress toward accomplishing its goals.
