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Summary Leaders and Managers
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Uses and outcomes of power, equilibrium between power of management and employees.
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Fundamentals of BusinessChapter 7:
Management and
Leadership
Content for this chapter was adapted from the Saylor Foundation’s
http://www.saylor.org/site/textbooks/Exploring%20Business.docx by Virginia
Tech under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0
License. The Saylor Foundation previously adapted this work under a
Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License
without attribution as requested by the work’s original creator or licensee.
If you redistribute any part of this work, you must retain on every digital or
print page view the following attribution:
Download this book for free at:
http://hdl.handle.net/10919/70961
Lead Author: Stephen J. Skripak
Contributors: Anastasia Cortes, Anita Walz
Layout: Anastasia Cortes
Selected graphics: Brian Craig http://bcraigdesign.com
Cover design: Trevor Finney
Student Reviewers: Jonathan De Pena, Nina Lindsay, Sachi Soni
Project Manager: Anita Walz
This chapter is licensed with a Creative Commons
Attribution-Noncommercial-Sharealike 3.0 License. Download this book for
free at: http://hdl.handle.net/10919/70961
Pamplin College of Business and Virginia Tech Libraries
July 2016
,[This page intentionally left blank]
, Chapter 7
Management and Leadership
Learning Objectives
1) Identify the four interrelated functions of management: planning,
organizing, leading, and controlling.
2) Understand the process by which a company develops and
implements a strategic plan.
3) Explain how managers direct others and motivate them to
achieve company goals.
4) Describe the process by which a manager monitors operations
and assesses performance.
5) Explain what benchmarking is and its importance for managing
organizations.
6) Describe the skills needed to be a successful manager.
Chapter 7 Download this book for free at: 159
http://hdl.handle.net/10919/70961
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