12.1 Functions of Management
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12.1 Functions of Management

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Small Business

Small Business
NCVPS
Module 12

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12.1 Functions of Management Presentation Transcript

  • 1. Planning and Preparing to Manage a Small Business What are the Functions of Management? Planning Controlling Organizing Directing
  • 2. THE FUNCTIONS OF MANAGEMENT
    • Planning
    • Organizing
    • Directing
    • Controlling
    The functions of management include:
  • 3.
    • The first step in managing
    • Determines business objectives or desired results
    • Determines ways to reach established goals
    PLANNING Planning is:
  • 4. THREE TYPES OF PLANS
    • Strategic plans
      • long range;
      • Map where you want your business to be in 3-5 years
    • Tactical plans
      • mid-range
      • Focus on a period of one year or less
  • 5. THREE TYPES OF PLANS
    • Operational plans
      • short term objectives that help to achieve tactical plans.
      • plans include policies, rules, regulations and budgets for the day-to-day operations of the business
  • 6.
    • Organizing people to carry out the company’s plans.
      • Hire and train new employees
      • Assign authority and responsibility
    • Organize and arrange equipment, materials, and other resources to help reach objectives.
    • Set up a chart to organize and give structure to your resources.
    ORGANIZING Organizing is deciding what jobs need to get done. This is done by:
  • 7.
    • Effective Directing is:
    • Conveying plans, assignments, and instructions to employees
    • Communicating goals and motivating employees to perform
    • Handling equipment, materials, and other resources
    DIRECTING
  • 8.
    • Controlling is:
    • The final step in managing
    • Comparing expected results with actual performance
    • Implementing corrective actions as needed
        • A quality control program is a check that is built into the production process to make sure products meet certain standards.
        • Uses budgets to compare budgeted costs with actual costs.
    CONTROLLING