CHAPTER 1 Introduction to Business Management

Learning Outcomes define the term management; differentiate between the concepts efficient and effective; discuss the various resources needed for an organisation; illustrate the physical transformation process; explain the four fundamental management functions; explain the six additional management functions; describe each of the management skills required by the

different levels of management; distinguish between the different levels of management; briefly distinguish between all the functions of a business; discuss how general management interacts with other

business functions

What is Business Management? (pg.1)

Efficiency vs. Effectiveness

Efficient Effective

Limited Organisational Resources

Organisational Resources (pg2)

Organisational Resources

The Transformation Process (pg 4)

The Transformation Process (pg 4)

Four Fundamental Management Functions (pg 5)

Core Management

Functions

6 Additional Management Functions (pg. 6)

Coordination

DisciplineDelegation

Motivation

CommunicationDecision-Making

Management Skills (pg 7)

Technical skills Interpersonal skills Conceptual skills Diagnostic skills Communication skills Decision-making skills Time- management skills

Management Skills (pg 7)

Management Skills (pg 7)

CommunicationConvey ideas and

information as well as receive ideas and

information with others effectively.

Decision-making

Choose a plan to solve a problem, has

consequences or results

•Responsible for overall direction• Lt goals, vision and mission• CEO, MD

•Implement decisions of top management• Medium term planning• Marketing, HR, Finance etc.

• Responsible for daily activities

• Short-term planning• Supervisors

Management Levels (pg 9)

8 Business Functions (pg11)

LEVELS OF MANAGEMENTLEVELS OF MANAGEMENTTOP MIDDLE FIRST LEVEL

4 CORE MANAGEMENT ACTIVITIES4 CORE MANAGEMENT ACTIVITIES

PLA

NN

ING

OR

GA

NIS

ING

LEA

DIN

G

CO

NTR

OL

8 BUSINESS FUNCTIONS8 BUSINESS FUNCTIONS

GE

NE

RA

L M

AN

AG

EM

EN

T

PU

RC

HA

SIN

G

FUN

CTIO

N

OP

ER

ATIO

NS

FU

NC

TION

MA

RK

ETIN

G FU

NC

TION

FINA

NC

IAL FU

NC

TION

HU

MA

N R

ES

OU

RC

E

PU

BLIC

RE

ALTIO

NS

AD

MIN

Technical

Inte

rper

sona

l

Diagnostic

Com

mun

icat

ion Tim

e managem

entDecision-Making

Conceptual

Next Session...

CHAPTER 2The Business Environment