Lecture Business (4/e): Chapter 6 - Ferrell, Hirt, Ferrell

Chapter 6 - The nature of management. This chapter include objectives: Define management and explain its role in the achievement of organizational objectives, describe the major functions of management, distinguish among three levels of management and the concerns of managers at each level, specify the skills managers need in order to be successful, summarize the systematic approach to decision making used by many business managers, recommend a new strategy to revive a struggling business.

Part 3

Managing for Quality and Competitiveness

© 2015 McGraw­Hill Education.

CHAPTER 6 The Nature of Management

CHAPTER 7 Organization, Teamwork, and Communication

CHAPTER 8 Managing Service and Manufacturing

Operations

Learning Objectives

LO 6-1 Define management and explain its role in the

achievement of organizational objectives

LO 6-2 Describe the major functions of management

LO 6-3 Distinguish among three levels of management and

the concerns of managers at each level

LO 6-4 Specify the skills managers must have to be

successful

LO 6-5 Describe the different types of leaders and how

leadership can be used to empower employees

LO 6-6 Summarize the systematic approach to decision

making used by many business managers

6-3

The Importance of Management

Management Functions

• Planning is the process of determining the organization’s

objectives and deciding how to accomplish them; the first function of management

Management Functions

Management Functions

6-7

Levels of Management

Areas of Management

6-9

Areas of Management

Areas of Management

6-11

Skills Needed by Managers

Skills Needed by Managers

6-13

Decision Making

Steps in the Decision Making Process

The Reality of Management

6-15

Managers spend a lot of time establishing and updating an agenda of goals and plans for carrying out their responsibilities