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How to manage a business   part i
 

How to manage a business part i

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    How to manage a business   part i How to manage a business part i Presentation Transcript

      • Learn about management functions
      • Study the management function of planning
      • Examine the management function of organizing
      • Investigate the management function of directing
      • Explore the management function of controlling
      • Management Functions include:
      • Planning
      • Organizing
      • Directing
      • Controlling
      • Three types of plans are used in business management:
      • Strategic Plan . A strategic plan lays out a broad course of action to achieve a long-term goal.
      • Tactical Plan . A tactical plan outlines specific major steps for carrying out the strategic plan.
      • Operational Plan . An operational plan details the everyday activities that will achieve the goals of the tactical plan.
      • Organizing creates structure. It puts the people and resources in the right places and in the right combinations to maximize production and minimize costs.
      • One of the most important organizing tasks is choosing and hiring the best employees, training them properly, and assigning them authority and responsibilities.
      • Managers create organization charts that outline the chains of command within the business and the working relationships between different groups of people.
      • Leaders must have good interpersonal skills . These are skills used by people as they interact with others.
      • The ultimate goal of directing is team building , which is motivating individuals in a group to work together to achieve a shared goal.
      • The three basic leadership styles are:
        • Authoritarian
        • Democratic
        • Delegating
      • Businesses set performance standards on many components—production, costs, customer service, employee actions, equipment, finances, inventory levels, product quality, profits, and sales.
      • Many businesses use the controlling management function to monitor the quality of the goods or services they sell.
      • A quality control program is a program used by a business to ensure that its products or services meet specific quality standards.