BBI2O Introduction to Business Unit 2: Functions of Business 2.C Management.
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Transcript of BBI2O Introduction to Business Unit 2: Functions of Business 2.C Management.
![Page 1: BBI2O Introduction to Business Unit 2: Functions of Business 2.C Management.](https://reader036.fdocuments.us/reader036/viewer/2022082818/56649ee45503460f94bf2f74/html5/thumbnails/1.jpg)
BBI2OIntroduction to Business
Unit 2: Functions of Business
2.C Management
![Page 2: BBI2O Introduction to Business Unit 2: Functions of Business 2.C Management.](https://reader036.fdocuments.us/reader036/viewer/2022082818/56649ee45503460f94bf2f74/html5/thumbnails/2.jpg)
Functions of Management
There are 4 functions of managementPlanningOrganizingLeadingControlling
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Functions of Management con’t
Planning – to set the direction Decide where you want to go Decide how to best go about it
Organizing – to create structures Divide up work Arrange resources Coordinate Activities
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Functions of Management con’t
Leading – to inspire effort Build enthusiasmCommunicate the visionMaintain momentum
Controlling – to ensure results Measure performance Take corrective action
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Levels of Management
Mgmt is classified to three basic levels:Top (or Upper) MgmtMiddle MgmtLower Mgmt
Top mgmt has more responsibility than Lower mgmt, they also operate on a longer-term basis. Top mgmt sets the goals and vision of the organization. To be effective, the vision must be consistent at each managerial level
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Managerial Skills con’t
The three basic managerial skills are conceptual, human & technical skills.
Higher level managers need more conceptual skills and fewer technical skills
Lower level managers need more technical skills and fewer conceptual skills
Human skills are needed at all levels
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Managerial Skills
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Types of Managerial Problems
5 main typesRoutine – arise periodically, standard responseNon Routine – unique situationsExpected – anticipated situationsUnexpected – not anticipated, usually dealt with
‘after the fact’ (reactionary)Crisis – can lead to disaster (natural disaster,
criminal act, lawsuit)
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Leadership Styles 3 main styles:
Autocratic, Laissez-Faire, Democratic Autocratic
Leader controls situation No input from employees Best when quick, or unpopular decisions needed Too much can lead to employee discontentment
Laissez-Faire Leaves employees alone to do their jobs Good when employees are mature, experienced Too much can lead to unmotivated, directionless employees
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Leadership Styles con’t
Democratic Employees contribute to decision making, by
sharing their input, information and creativity Employees feel appreciated, and work harder
because they know their contributions are valued Most effective leadership style in most situations
Excellent leaders know when to apply each of these styles, and can seamlessly change between all three, as situations require
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Study Guide
Can you name: The 4 functions of management? The 3 levels of mgmt? The 3 managerial skills? The 5 types of managerial problems? The 3 leadership styles?