Business Management

Alexis Cox

Describe the overall purpose of management

The purpose of management is planning, organizing, leading, and controlling in order to help businesses focus on meeting goals so they can run and make a profit.

List and define/discuss the four functions of management

1. Planning- The act or process of creating goals and objectives as well as strategies to meet them.

2. Organizing- Getting the resourse arranged in an orderly and functional way to accomplish goals and objectives

3. Leading- Providing direction and vision

4. Controlling- Keeping the company on track and making sure goals are met.

List and define the Managerial Structures

Line Authority - managers on one level are in charge of those beneath them.

Centralized Organization- puts authority with top management

Decentralized Organization- gives authority to a number of different managers

Informal Structure- Employees share duties

Formal Structure Managers are deparmentalized

Name six skills necessary for effective management

  1. Task Oriented
  2. wok under pressure
  3. human relation skills
  4. Good problem solving skills
  5. Time management
  6. Communication skills

What are the advantages/disadvantages of being a manager?

Advantages of being a manager include :

  • Earning more money
  • Being a respected manager brings prestige
  • More influence and authority
  • Greater control
Disadvantages of being a manager include:

  • Often blamed when things go wrong
  • Mistakes can be costly
  • Under a lot of pressure

Is a manger's job for you? Why

I think a manager's job is for me. I like being in charge and being in control of things. I can communicate with people very well and am task oriented. I think I could handle the position.