The Scope of Management

Business Management

Today’s LessonOBJECTIVE ESSENTIAL QUESTIONS

We will describe management roles, functions, skills and values as we begin studying the Scope of Management.

What is management?

What do managers do - specific tasks?

What should managers do - responsibilities?

What is Management?What are words that comes to mind when you

hear the word “management”?

The Scope of ManagementWhat is management?

What are the specific tasks and responsibilities of management?

What is Management?DEFINITION

TASKS / RESPONSIBILITIES

Ensuring that the business works

Making sure people want your products

Making sure business is running well – prices, profit, customer service

Process – multiple steps & keeps going

QualityPricingCustomer’s needsImports / exportsMarketingNeed for product

Functions of Management

Four Functions of ManagementPlanningOrganizingImplementingControlling

PlanningAnalyzing information and making decisions about what needs to be done

OrganizingDetermining

how plans can be accomplished most effectively

Arranging resources to complete work

Includes staffing

ImplementingCarrying out the

plansHelping

employees to work effectively

More day-to-day management activities

ControllingEvaluating results to determine if the company’s objectives have been accomplished as planned

Skills of Good Managers

Management SkillsWhat are the skills used to efficiently channel resources and resolve conflict?

What types of skills do you think managers should have?

Skills Managers NeedCommunication SkillsHuman Relations Skills

Teamwork SkillsProblem-Solving SkillsOrganizational Skills

Closing TaskDescribe the difference between managerial tasks and managerial responsibilities.

Include at least one example of each (task & responsibility).

Managing A Business

It is the responsibility of the business owner & managers to give the company direction.

This includes summarizing what the company does (purpose), what the company hopes to achieve (goals), and even its core values.

Consider the vision & mission statements of some of today’s biggest companies.

Managers Set Direction & Goals

MISSION STATEMENT VISION STATEMENT

Short, specific statement that defines the purpose of the company.

Should answer the question “what do we do?”

Broader statement that describes the direction of the business

Should answer the question “what will we accomplish in the future?”

NIKEMISSION STATEMENT VISION STATEMENT

To bring inspiration and innovation to every athlete in the world

To be number one athletic company in the world

WAL-MARTMISSION STATEMENT VISION STATEMENT

To help people save money so they can live better

To become the worldwide leader in retailing

Worksheet On Your OwnIdentify 4 companies that interest you.List the current mission statement and

vision statement of each company – you may have to do some additional searching.

Referring to your definitions, analyze each statement to identify at least one strength and one area for improvement.