Fundamentals of Management, Chapter One notes
Fundamentals of Management, Chapter One notes MGMT 3202
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This 2 page Class Notes was uploaded by Carson Talbert on Sunday January 31, 2016. The Class Notes belongs to MGMT 3202 at East Carolina University taught by Tiffany Woodward in Spring 2016. Since its upload, it has received 82 views. For similar materials see Fundamentals of Management in Business at East Carolina University.
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Date Created: 01/31/16
Chapter One Notes Management: Planning, organizing, leading, and controlling people to create efficiency in a work place. Managers: People that supervise employees to make sure the company’s resources are used to create profit efficiently. Resources: Anything you can think of about a company. Examples: People, knowledge, materials, equipment Planning: Identifying what your goals are and create a course of actions to meet those goals. Examples of questions need to be answered are… 1. What does the company do? 2. Where do you want to be in the future? 3. Who’s the company? Planning Strategy: This is the course of actions a company does to accomplish the goals that have been set. Organizing: This is the structure of how the company is run. Also structures relationships to create efficiency. Examples: Creates, chain of command and job titles Controlling: Reviewing how well a company is doing. To see if changes need to be made to become more efficient and if not, maintaining it. Leading: Provide motivation to employees and giving clear instructions on what needs to be done. Effectiveness: Measures if certain actions that the company is taking are benefiting them and getting them closer to their goals. Efficiency: Measures how well a company is doing. A good manager= Efficient + Effective Different levels of management 1. CEO- lead important departments. 2. Top Managers- set company goals, over see how effective and efficient the company is. 3. Middle Managers- boss of the first-line manager, also over sees how resources are used and if they can be used more efficiently. 4. First-Line Managers- responsible for day-to-day supervision of employees, boss of employees and builds relationships with them. Managerial Skills 1. Conceptual- all about problem solving and making situations in the work place better. 2. Human- all about being good with people, this includes, clear communication and understanding, and leadership. 3. Technical- all about the actually knowledge and know how required to run the job. (Easiest one to learn) Restructuring: Taking a different course of action then a previous one to improve efficiency and effectiveness. Outsourcing: Having another company perform work that the company previously performed for a lower cost than to make it themselves. (Usually foreign companies) Competitive advantage: Perform the same line of work as another company but does it more efficiently and effectively. Utilizing IT and E-Commerce: Decides the technology best to use for the company and can benefit it.
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