Management Chapter 1 (Connect and
Notes)
What is Management
1. Pursuit of organizational goals efficiently and effectively (by)
2. Integrating the work of people (through)
3. Planning, organizing, leading and controlling
Four Functions of Management
Planning
Organizing
Leading
Controlling
Efficiency
"the means"
Using resources; people, money, raw materials, wisely and cost effectively
Effectiveness
"the ends"
Achieve results, make the right decisions, and successfully carry them out to achieve the
organization's goals
Good Managers create what through what
Value
Multiplier Effect
Planning
Setting goals and deciding how to achieve them
Organizing
Arranging tasks, people, and other resources to accomplish the work
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