International Business Administration

Powerful Essays
Chapter 1 Managers and Managing
What is management?
Management is the planning, organizing, leading and controlling of human and other resources to achieve organizational goals efficiently and effectively.
Efficiency is a measure of how well resources are used to achieve a goal. Effectiveness is a measure of the appropiateness of the the goals an organization is pursuing and the degree to which the organization achieves those goals.
Organizations are collections of people who work together and coordinate their actions to achieve a wide variety of goals or desired future outcomes. Organizational perfomance is a measure of how efficiently and effectively a manager uses resources to achieve goals.

Why is management important?
Managers decide how to use valuable resources and that is why they directly impact the well-being of a society and the people in it.
Studying management helps people to deal with their coworkers, bosses and how to solve conflicts between them, achieve team goals and thus increase performance.
Managing is a job that pays well and provides an interesting and satifsying career.

What are the tasks of a manager?
The four principal tasks are:
1. Planning: identifying and selecting appropiate goals by deciding which goals the organization will pursue deciding what strategies to adopt to attain those goals deciding how to allocate organizational resources to pursue the strategies that attain those goals.
A strategy is a cluster of decisions about what goals to pursue, what actions to take, and how to use resources to achieve goals.
2. Organizing: structuring working relationships in a way that allows organizational members to work together to achieve goals. Organizational structure is a formal system of tasks and reporting relationships that coordinates and motivates organizational member so they work together to achieve goals.
3. Leading: managers articulate a clear organizational vision for the members to accomplish. They

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