Power point is on how to magage effectively and how the diffrent roles of different level mangers come to create and run a firm/business.

1. Managing effectivelychapter 7

2. Levels of Management Top Management- These are the presidents, chief executive officer, chief financial officer, & vice president. These managers makes decisions regarding the firm’s long-run objectives. Middle Management- These are responsible for the firms short-term decisions. Ex. Regional manager Supervisory Management- They are highly involved with the employees of the day to day production

4. Organizing

5. Leading

7. Strategic PlanThe long-term Goals The strategic Plan identifies the firms main business focus over a long-term period . This plan typically includes goals and strategies that can be used to satisfy the firm’s mission.

9. They are consistent with the firm’s long-term plan.

11. When firm’s engage in operational planning they must abide by their Policies- these are the guidelines for how tasks should be completed. Procedures- these are steps that are necessary to implement a policy.

12. Contingency PlanningThe Backup Plan What they do is develop alternative plans for various possible business conditions Some of these plans prepare for possible crises that may occur.

13. How Planning Functions are Related

14. Organizing The organizing function involves the organization of employees & other resources in a manner that is consistent with the firm’s goals. Once a firm’s goals are established (from the planning function), resources are obtained & organized to achieve those goals.

15. Leading The leading function is the process of influencing the habits of others to achieve a common goal. The leading function involves not only instructions on how to complete a task but also incentives to complete it correctly and quickly.

16. 3 types of leadership styles Autocratic~ In which the leader retain full authority for decisions making; employees have little or no input. Free-rein~ management style in which the leader delegates much authority to employees. Participative~ The leaders accept some employee input but then they make the final decision.

17. Controlling To evaluate tasks, managers Should measure performance in comparison with the standards & expectations they det. The controlling function involves the monitoring and evaluation of task. The controlling function assesses whether the plans set within the planning function are achieved.

18. Managers use 4 ways to use control: Control used to correct Deficiencies Control used to correct Standards Control of Management Process Control of Reporting

19. Planning Organizing Leading Top Managers: Change strategic plan to Replace plastic toy production with computer Game production. Middle Management: Reorganize the plastic toy production Plant so that it can now be used to Produce computer games. Retrain The plants employees and hire 4 new Employees to help. Supervisors: Explain each employees Tasks required to Produce computer games & how to perform the task Communicate the plan to middle Management & ask middle Management to implement the plan Communicate the tasks To employees Communicate the reorganization to Supervisors & ask them to implement The new production process. Assess the expenses & sales from Producing computer games Every month. Determine whether The new strategic plan is successful. Monitor employees to ensure That they are completing Their new assignments Properly. Determine whether the Production is efficient (based On monitoring the plant Output & expenses each Month).

20. Managerial Skills Conceptual Skills~ These skills are the ability to understand the relationship among the various tasks of the firm. They see how all the pieces all fit together. Managers with good conceptual skills have backup strategies when problems in the production process occur. They tend to be creative and are willing to consider carious methods of achieving goals.

21. Manger Skills #2 Interpersonal Skills~ these are the skills to be able to communicate with customers and employees. One of the most important interpersonal skills is the ability to ask good questions. Managers must be able to clearly communicate assignments to employees & must communicate with employees who have made mistakes on the job so that they can be corrected. Managers must listen to complaints from employees and attempt to resolve their problems.

22. Manager Skill #3 TECHNICAL Skills~ These are the skills used to perform specific day-to-day tasks. Managers must have a understanding of all new and old technology that is being used my the firm.

23. Manger Skill #4 Decision-Making Skills~ these skills are for using existing information to determine how the firm’s resources should be allocated. Managers who make proper decisions can improve the firm’s earnings & thereby increase its value. And maybe even raise.

24. 5 guidelines to exercise time management Set Proper Priorities Schedule Long Time Intervals for Large Task Minimize Interruptions Set Short-Term Goals Delegate Some Tasks to Employees