Chapter 7: Business Management

Marissa Brasfield

Describe the overall purpose of management

Planning, organizing, leading and controlling.

Managerial Structures

Line authority is an organizational structure in which managers on one level are in charge of those beneath them. Line and staff authority organizational chart shows the direct line of authority as well as staff who advise the line personnel. Some firms have a centralized organization that puts authority in one place- with top management.

6 skills necessary for effective management

Task-oriented, managers must keep accurate business records, a manager often has to work under pressure and solve many small problems. Good problem-solving and time-management skills are a must. Every manager must communicate well.

Is a managers job for you? why?

No, because I don't want all of that responsibility on my plate. Being a manager has it's advantage and disadvantage and I feel that I would not be good at management.

Advantages and disadvantages of being a manager

Advantages are more money than employees, respect, influence and authority, and greater control over their time. Disadvantages are being blamed when something goes wrong, even if they didn't do it. Their mistakes can be very costly to a company so they are under a lot of pressure to make the right decisions.

Four functions of management

planning is the act or process of creating goals and objectives as well as the strategies to meet them. Organizing is getting the resources arranged in an orderly and functional way to accomplish goals and objectives. Leading means providing direction and vision. Controlling the operation means keeping the company on track and making sure goals are met.