Summary
Summary OBS 114: Unit 3: Chapter 2
- Course
- OBS 114
- Institution
- University Of Pretoria (UP)
This document contains a summary of Chapter 2 of the textbook: Fundamentals of Business Management
[Show more]
1 review
By: noelpillay16 • 2 year ago
Content preview
OBS 114Fundamentals of business management
Unit 3: Chapter 2: Managers and managing
1. WHAT IS MANAGEMENT?
Definitions Management:
Planning, organising, leading and controlling of human and
other resources to achieve organisational goals efficiently and
effectively
A manager’s Organisational Performance:
goal A measure of how efficiently and effectively managers
use available resources to satisfy customers and
achieve organisational goals
Efficiency:
A measure of how productively resources are used to
achieve a goal.
Effectiveness:
A measure of the appropriateness of the goals that
managers have selected for the organisation to pursue
and the degree to which the goals are achieved.
2. ESSENTIAL MANAGERIAL TASKS
Planning Deciding which goals to pursue
Deciding which strategies to adopt
Deciding how to allocate organisation resources
Organising Structuring working-relationships
Creating an Organisational Structure
o A formal system of task and reporting
relationships that coordinates and motivates
members so that they work together to achieve
organisational goals
Identifying job-specific tasks
Leading Managers use their power, personality, influence, and
persuasion to coordinate people
A clear vision is articulated
Controlling Managers evaluate how well the organisation has achieved its
goals
Mintzberg’s Entrepreneur Commits organizational resources to
managerial develop innovative goods and services.
roles • Decides to expand internationally to
obtain new customers for the
organization's products
Disturbance Takes corrective action to deal with
handler unexpected problems.
Resource Allocates organizational resources among
allocator different tasks and departments.
, Negotiator Works with suppliers, distributors, and
labour unions to reach agreements.
Figurehead Outlines future organizational goals.
Leader Provides an example for employees to
follow and gives direct commands.
Liaison Coordinates the work of managers in
different departments
Monitor Evaluates the performance of managers
in different tasks and takes corrective
action to improve their performance.
Disseminator Informs employees about changes taking
place in the external and internal
environments.
Spokesperson Launches advertising campaigns to
promote new goods.
3. LEVELS AND SKILLS OF MANAGERS
Definitions Organisations:
Collections of people who work together and coordinate
their actions to achieve a wide variety of goals or
desired future outcomes
Management:
The planning, organising, leading, and controlling of
human and other resources to achieve organisational
goals efficiently and effectively.
o Assets such as people, machinery, raw materials,
computers etc.
Department
A group of managers and employees who work
together because they possess similar skills and
experience
Levels of
management
CEO
Creates the smooth functioning of top management
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller tanyah1. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R50,00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now