Copyright © Glencoe/McGraw-Hill Slide 2 of 15BUSINESS MANAGEMENT Real-World Applications & Connections GLENCOE The Importance of Business Management What You’ll Learn • What management i
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The many changes in the business world today are creating new
challenges for people who operate, or manage, those businesses This section discusses:
• The Business World Today
• What Is Management?
• Levels of Management
• The Management Process
• The Principles of Management
• Women and Minorities in Management
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BUSINESS MANAGEMENT
Real-World Applications & Connections
GLENCOE
The Importance of Business Management
What You’ll Learn
• What management is
• The three levels of management
• The management types
• Three types of management skills
• The principles of management
• The role of women and minorities in management
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BUSINESS MANAGEMENT
Real-World Applications & Connections
GLENCOE
The Importance of Business Management
Why It’s Important
To understand how businesses make decisions, you will need to
understand how management works
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management human relations skills
senior management technical skills
middle management principle
supervisory management glass ceiling
role
conceptual skills
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BUSINESS MANAGEMENT
Real-World Applications & Connections
GLENCOE
The Importance of Business Management
The Management Process
What a manager does can be examined in three different ways.
• The tasks performed.
• The roles taken on.
• Type of skills required.
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Trang 8Relative Amount of Emphasis Placed on Each Function of Management
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Decision-Making Roles
Entrepreneur Negotiator
Disturbance Handler Resource Director
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BUSINESS MANAGEMENT
Real-World Applications & Connections
GLENCOE
The Importance of Business Management
Mix of Skills Used at Different Levels of Management
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• A principle is a truth or law.
• Management principles are rules by which managers make decisions.
• Scientists proved scientific principles through controlled experiments.
• Most management principles are developed through observation and deduction.
• Management principles are more likely to change than specific principles.
• When management principles need to be changed, it is important for a manager
to be able to change and adapt.
• Arriving to work at the same time every day and wearing certain kinds of clothes
to work are examples of management principles that are changing.
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BUSINESS MANAGEMENT
Real-World Applications & Connections
GLENCOE
The Importance of Business Management
Women and Minorities in Management
businesses were almost exclusively white males.
now serving in senior management such as CEO.
them from moving up in the world of business.
promote women and minorities
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BUSINESS MANAGEMENT
Real-World Applications & Connections
GLENCOE
1 How have changes in modern business created challenges for managers?
2 Which management level is responsible for:
a Establishing a business partnership?
b Resolving disputes between employees?
c Designing a plan to meet a company goal?
Cont.
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BUSINESS MANAGEMENT
Real-World Applications & Connections
GLENCOE
3 Which role does a manager fill when resolving a dispute? Or when
holding a staff meeting?
4 List the three types of management skills and explain why each is
important.
5 Can a management principle be proven just like a scientific principle? Explain.
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• What Is an Entrepreneur?
• Entrepreneurs in Large and Medium-Sized Businesses
• The Importance of Small Businesses
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BUSINESS MANAGEMENT
Real-World Applications & Connections
GLENCOE
The Importance of Business Management
What You’ll Learn
• What entrepreneurs do
• The difference between managers and entrepreneurs
• The need for entrepreneurship and innovation in large and
medium-size companies
• The importance of small businesses
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BUSINESS MANAGEMENT
Real-World Applications & Connections
GLENCOE
The Importance of Business Management
Why It’s Important
Knowing what is involved in starting and running a business will help you decide whether you want to start your own company some day
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• Entrepreneurs are people who launch and run their own businesses.
• Being an entrepreneur is much riskier than being a professional
manager They can lose all the money invested in their business if the business fails.
• Entrepreneurs tend to be more independent than managers and may have
less formal education.
• They start with an idea for creating or modifying a product or service
that they believe in.
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BUSINESS MANAGEMENT
Real-World Applications & Connections
GLENCOE
The Importance of Business Management
The Importance of Small Businesses
• A small business is a company that is independently owned and operated
• According to the Small Business Administration, a small business has fewer than 100 employees
• Owners of small businesses often perform all management tasks
• More that 98 percent of the businesses in the United States are
small businesses
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BUSINESS MANAGEMENT
Real-World Applications & Connections
GLENCOE
The Importance of Business Management
The Importance of Small Business
• They play an important role in the U.S economy because they
employ millions of workers and sell billions of dollars of products and services
• Small businesses tend to produce more innovations than larger
businesses
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BUSINESS MANAGEMENT
Real-World Applications & Connections
GLENCOE
The Importance of Business Management
Fact and Idea Review
1 List three personal characteristics shared by many entrepreneurs
2 Being an entrepreneur is easier than being a professional
manager—true or false? Explain
3 Describe two things companies can do to encourage their
managers to think more like entrepreneurs
4 Name two important roles small business play in the economy