What is the process of coordinating people and other resources to achieve the goals of an organization?

Chapter 8

WHAT IS MANAGEMENT?

Management is the process of coordinating people and other resources to achieve the goals

of an organization.

Material resources: Tangible, physical resources an organization uses.

Human resources: Perhaps the most important resource of any organization.

Financial resources: Funds than an organization uses to meet its obligations to investors

and creditors.

Information: External environmental conditions – including the economy, consumer

markets, technology – are all changing so rapidly that if a business does not adapt it

probably will not survive.

BASIC MANAGEMENT FUNCTIONS

At any given time, managers may engage in a number of functions simultaneously. However,

each function tends to lead naturally to others. How well managers perform these key

functions determines whether a business is successful.

PLANNING

Planning is establishing organizational goals and deciding how to accomplish them. It is

often referred to as the “first” management function because all other functions depend on

planning.

An organization’s mission is a statement of the basic purpose that makes that organization

different from others.

1

DEFINITIONS

MANAGEMENT

The process of

coordinating

people and other

resources to

achieve the goals

of an organization.

PLANNING

Establishing

organizational

goals and deciding

how to accomplish

them.

MISSION

A statement of the

basic purpose that

makes that

organization

different from

others.

Organizational

goals

MANAGEMENT

Material

resources

Human

resources

Financial

resources

Informational

resources

PlanningOrganizing Leading and

motivatingControlling

1.is the process of coordinating people and otherresources to achieve the goals of an organization.2.Management is not a step-by-step procedure that can be carefullymapped out and calendared, it is awith a feedback loop that represents flow.3.Planning is an essential part of managing an enterprise.A(n)plan is developed as a guide during theplanning process for major policy setting and decision making.4.During the planning stage, managers develop aplan which is smaller in scale and developed to implementstrategy and will most likely cover a one- to three-year period.5.A contingency plan outlines alternate courses of action that may be takenif an organization's other plans areor become.6.When a manager plans for the future of his business and is able to seehow all of the parts of the organization work together, it is said that he orshe is engagingto see the "big picture."7.Doug is a line manager at XYZ Corporation. He is very task-oriented andmakes all of the decisions with little concern for employee opinion. Underhisleadership style, employees are toldexactly what is expected from them and given specific guidelines, rules,and regulations on how to achieve their tasks.8.Three business students are having a discussion regarding leadershipstyles. One argues that autocratic leadership is best, another argues thatparticipative leadership is best, and the last argues that entrepreneurialleadership is best. Studies have shown however that the most effectivestyle depends on the right balance between9."Houston, we have a problem," is one of the most famous sentences inhistory resulting from a problem that arose during the Apollo 13 mission tothe moon. When business managers identify a problem, they areidentifying.Managementprocessstrategictacticaldisruptedineffectiveconceptual skillsautocraticinteraction among employees, the work situation, and manager's personalitya discrepancy betw een an actual condition and a desired condition

What is the process of coordinating people and other resources to acheive the goals of an organization?

What is the process of coordinating resources in order to accomplish an organization's goal?

What is the process of coordinating resources?

What is the process of working with people and resources to accomplish the goals of an organization group of answer choices?