The Role of Management

Planning Organizing Leading Motivating Controlling and Evaulating

What is Management?

The function of directing and administering all, or part of, a business

Managers set goals and handle a company's human, financial, and productive resources to achieve its goal

Management Style

Not every person has the same management style

A style is a combination of the techniques a person uses to take charge of something and of the way in which he or she takes charge

What skills do managers have to have?

They need to be able to communicate and interact effectively with different personalities and people

They need to be strong leaders – able to inspire, motivate and delegate

Planning

Managers need to ask questions like: Will the world need our products in the

future? Will tomorrow's need be greater than

today? What methods should the business take

to meet the needs

The Business Plan Managers will watch for trends and

changes in the business environment The Business plan: once a manager does

his or her research, he can set objectives or goals for the business and creates a business plan

A business plan lists the goals for the company as a whole and for each area

It will then describe strategies to achieve the objectives, the resources the company will need, and the time frame in which the goals should be met

It will also identify who is responsible for various parts of the plan

Organizing

The structure and right systems in place to implement the business plan

Structure is the 'map' of who does what job in the company

Many companies use 'systems' - eg. Cooking food in fast food restaurants that are the same in every place

Management needs to make sure a company's resources are being used wisely:

This can mean financial as well as the 'physical' equipment of the comapny

Leading

Setting a direction for others 3 main leadership types: 1. Autocratic – 'in charge' no input allowed

from employees 2. Democratic – clear about expectations

but allows employees to give feedback 3. Laiseez-faire – no direction

Motivating

Encouraging employees to act External motivation: encouraging

employees Internal motivation: encouraging others to

develop motivation that comes from within themselves

Controlling and Evaluating

Ensuring the company is performing according to the 'plan'