Chapter 7

Management

Purpose Of Management

Management is used to focus on setting and meeting goals so a profit can be made.

Four Functions Of Management

The four functions of management are planning (process of creating goals), organizing (getting needed resources), leading (providing direction and vision), and controlling (keeping the company on track).

Managerial Structures

Some management structures are line authority (managers are in charge of those in the level below them), line and staff authority (has the same idea as the line authority but also staff that advises the line personal) , centralized organization (puts authority in one place).

Skills for Effective Management

Some skills that would benefit any manager would be to be task-oriented, decide on what is important, keep accurate business records, be able to work under pressure, communicate well, and human relations skills.

Advantages and Disadvantages of Being A Manager

The advantages are that you earn more money, having more influence, having lots of respect. The disadvantages are that you are usually blamed when things go wrong, and are usually under pressure.

Is Being A Manager For Me?

I, personally, believe that I would be able to be a manager. I would be able to keep track of all records, treat my employees nicely and fairly, and I would be able to take the stress of being a manager.