Objectives

By the end of this lecture, the learners will be able to…

0Define management.

0 List manager’s most important resources.

0 Identify the 3 styles of management.

0Recall the importance of management.

0 Label the management pyramid.

0Explain the different types of managers.

0Describe five functions of management.

Episode of “The Office”

0 http://www.hulu.com/watch/239948/the-office-dwight-k-schrute-acting-manager

What is Management?

0Direction: Discuss with your peers.

Definition of Management

0The process of achieving desired results through the efficient utilization of human and material resources.

Two Key Concerns

1.Effectiveness

2.Efficiency

Example:

0 Ford Motor Co. who owned Jaguar in 02 decided to trim costs in the British unit by using a Ford midsize chassis (Ford Taurus) for its Jaguar x-type sedan. At the same time they dropped the price on the x-type to less than 30k to attract more buyers. However, consumers were unimpressed and commented that the x type had no pizzazz. In fact, your humble instructor called it the Taurisation of the x-type. Sales of the x-type lagged.

Answer

0Ford’s actions were? Ineffective but efficient.

Important Resources

0Material Resources

0Informational Resources

0Human Resources < Most Important!

0Financial Resources

Is Management Art or Science?

3 Styles of Management

0Democratic

0Autocratic

0Laissez-faire

Importance of Management

0The Industrial Revolution

0The economic effects

0Unskilled laborers

0 Control

0 3 things caused by revolution

0Business failure?

Management Pyramid

First Line Managers

Middle Managers

Top Managers

Line vs. Staff Managers

0Line: responsible for activities that directly affect the transformation process

0Staff: support the line managers efforts through their special expertise.

Functional vs General

0Functional: responsible for one area of activity

0General: responsible for many different areas of activity.

Administrators vs Managers

0Administrators: another name for a manager who manages in the public or not for profit sector

0Manager: manages in the private or profit sector.

Functions of Management

0Planning

0Organizing

0Staffing

0Leading

0Controlling

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