* Define the term management and explain the managerial significance of the terms effectiveness and efficiency. * Identify and summarize five major sources of change for today’s managers. * Distinguish between management functions and skills, and identify the eight basic managerial functions. * Demonstrate your knowledge of Wilson’s three managerial skill categories and explain the significance of his research findings. * Explain how managers learn to manage.
* Challenge two myths about small business and describe entrepreneurs. * The only certainty today is change.
* Speed, teamwork, and flexibility are the orders of the day. * Managers at all levels need to stay close to the customer. * Without continuous improvement and lifelong learning, there can be no true economic progress for individuals and organizations alike. * Management
* Management is the process of working with and through others to achieve organizational objectives in a changing environment. * Management entails the effective and efficient use of limited resources.
* Management is a social process in which managers get things done by working with and through others. * Shortcomings of “derailed” managers
* Problems with interpersonal relationships
* Failure to meet business objectives
* Failure to build and lead a team
* Inability to change and adapt during a transition
* An objective is a target to be strived for and attained. * Challenging yet achievable objectives provide guidance for effective and efficient actions by individuals and organizations. * Productivity improvement (a favorable ratio between inputs and output) is the constant struggle to balance effectiveness and efficiency.
Effectiveness and Efficiency
* Entails promptly achieving a stated organizational objective * Managers are held...