CHAPTER 5: ORGANIZING BUSINESS

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CHAPTER 5: ORGANIZING BUSINESS by Mind Map: CHAPTER 5: ORGANIZING BUSINESS

1. Stage 4: Levels of Management

1.1. High Level Management

1.1.1. High level managers such as Chief Executive Officer. Have many years of experience,spend most of their time planning.

1.2. Middle Management

1.2.1. Involved in specific operations of the organizations.

1.3. Front-line Management

1.3.1. Direct employees performance daily

1.3.2. spend most of their time controlling and directing.

2. Stage 3: Skills Needed by Managers

2.1. Technical Expertise

2.1.1. Specialized knowledge and training

2.2. Conceptial Skills

2.2.1. Thinking in abstract terms and seeing parts come together.

2.3. Analytical Skills

2.3.1. Identifying relevant issues.

2.4. Human Relations Skills

2.4.1. Ability to deal with people.

3. Stage 1: The Importance of Management

3.1. Management

3.1.1. Process to obtain organization's goals by using resources effectively and efficiently.

3.2. Managers

3.2.1. Can be in a group or a single individuals with leadership skills and are tasked to make decisions.

3.2.2. Staffing is when people are hired to carry out the work in an organization.

3.2.2.1. Downsizing is the termination of employees at the same time from an organization.

3.3. Acquiring suppliers: Reliable suppliers provide stocks and services as the business reach global markets. They also helps by providing solutions to reduce unnecessary expenses.

4. Stage 2: Management Functions

4.1. Planning

4.1.1. Oftenly in a form of written documents that shows the guideline of an organization's objectives

4.1.1.1. These are the examples of planning:-

4.1.1.2. 1)Strategic Plans= used for longterm activity

4.1.1.3. 2)Tactical Plans=Specific and short term. Only used when needed.

4.1.1.4. 3)Operational Plans=very short term. Used to achieve tactical and strategic plan.

4.1.1.5. 4)Crisis Management(contingency planning)=postponed due to disasters, computer or internets problem and so on.

4.2. Organizing

4.2.1. Process to determine what and how to do the work or who will the the work.

4.2.2. Helps creating a balanced and fair work.

4.2.3. Establishes line of authority

4.2.4. Improves communication=can adapt with any environment.

4.2.5. helps avoid work duplication

4.2.6. improving competitiveness.

4.3. Directing

4.3.1. Leading and instructing to achieve organization's goals.

4.3.2. Encouraging employees to finish their work by providing deadlines.

4.3.3. Giving rewards and recognition to the one who deserved.

4.3.4. Providing stimulant to the workers for them to work flawlessly like promising raised in salary or promotion.

4.3.5. Decision making authority will be given to younger employees to increase their morale.

4.4. Controlling

4.4.1. Measuring and supervising progress.

4.4.2. consists 5 activities:-measurig performance,comparing performance,identifying standards,investigating causes and taking actions like giving punishments.