CHAPTER 5 : MANAGING A BUSINESS
Definition : the process of administering and coordinating resources effectively, and in an effort to achieve the goals of the organization. Managers are people who are responsible to coordinate, guide and supervise the work of other organizational members, to attain organizational goals. The management process:
1. Plan : selecting clear objectives and determining the right strategies. 2. Organizing : the process of arranging and coordinating organizational resources particularly human resources, to carry out the organizational plan. 3. Leading : the process of motivating subordinates and inspiring others towards achieving organizational goals. 4. Controlling : the process to ensure that performance is as planned and taking necessary corrective actions / changes when needed. Managerial level :
1. Top-level managers : set goals and provide the strategic directions for organizations, hold job titles. (CEOs, COOs, President, etc.) 2. Middle-level managers : carrying out goals set up by the top management, as linkage between the top and the first-line managers, develop departmental plans and strategies to support the organizational goals. (Departmental Head, Human Resource Manager, Faculty Dean, Marketing Manager) 3. First-level managers : often called as supervisors, managers who interacts and work most closely with the operational employees, responsible in directing and supervising the actual day-to-day work of the organization at the operating level. (Crew / Team Leader, Line Supervisor, Head Nurse) 4. Non-managerial : perform variety of task activities, using technical skills. (Driver) Management skills :
1. Technical skills, T : the ability to understand and demonstrate knowledge and proficiency in a specialized field. Most used position : first level managers. 2. Human skills, H : the ability to interact and work well with other people. Most used position : middle level managers. 3....
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