1. Entrepreneurs
2. Shareholders
3. Board of Directors
4. Managers
5. Employees

1. Capital
2. Labor

P
O

L

C

Planning

Organizing

Leading

Controlling

(definition of management as 4 functions)

1. Strategic MGT
2. Organizational MGT
3. Operational MGT
4. Accounting MGT

1. Economic (Profit)
2. Competitive
3. Social

• [image][image]setting future objectives, being aware of the environment
• mapping the activities necessary to acheive thoes objectives

Organizing

• (Making right decision)
• Energizing people to contribute their best individually

• Measuring performance
• Comparing them to objectives, implementing change
• Monitoring progress

Managers roles

(Mintzberg)

1. interpersonal
2. information
3. decisional

• figurehead
• leader
• liaision

• monitor
• disseminator
• spokeperson

• entrepreneur
• disturbance handler
• resource allocator
• negotiator

SYSTEM as a set of interrelated parts-subsystems

open and closed systems

Managers approach should vary according to the individual and the enviromental situation

*IT DEPENDS!!!*

(understanding teams)

7 causes of conflicts

1. competition for scarce resource
2. time pressure
3. inconsistent goal or reward system
4. ambiguous jurisdiction
5. status differences
6. personality clashes
7. communication failure

(understanding teams)

Differnent Stages

1. Forming
2. Storming
3. Norming
4. Performing
5. Adjourning

(Understanding Teams)

Challenging Problems

• Groupthinking
• Free riders
• Nonconforming high performer
• Lack of rewards for teamwork

(planning process)

Objectives

also known as goal.

a specific commitment to achieve a measurable result within a stated period of time

(Planning process)

Actions

a goal that is:

Specific

Measurable

Attainable

Results oriented

and has

Target dates