Is a process of planning, organizing, Looks at how an organizing seeks to leading, and controlling satisfy the needs of employees The Main aspects of Management Mainstream vs. Multistream 1. Management is a Process Mainstream Perspective- focuses As a process, management involves on the traditional, materialist, and four functions planning individualistic view of management Planning is defined as the process of Multistream Perspective- focus on identifying the objective balanced view of management by Organizing is defined as the taking into account the multiple gathering the resources forms of well-being for multiple Leading is a process which stakeholders. encompasses Influencing Directing ORGANIZATION MANAGEMENT Coordinating Communicating Organization Motivating Is defined as a social setting composed of Controlling is defined as monitoring several groups of people and evaluation of activities Types of Organizations 2. Management is Using Proper 1. Government Organizations Resources National Government agencies are In management RESOURCES mandated by law pertain to people, time, money, 2. Private Organizations materials, machines, equipment, Promotes the interest of the industry land, building, technology, which earn profits. information and communication Corporation systems and other forms of material Ownership is through shares of and non-material things stock 3. Management Aims to Achieve Sole Proprietorship Objectives Is a form of business owned have Specific- the objectives should be in limited liability a form of sufficient detail Limited partnership Measurable- the objectives can be Is a form of business owned by assessed and verified two or more persons, but limited Attainable- the objectives can be liabilities during a financial loss achieved by finding your own ways Cooperative of strategies. Is a form of business Realistic- the objectives can be organization whereownership is accomplished given the current and equally shared among members. planned level of resources 3. Nongovernmental Organizations Time-bound- the objectives can be May be in the form of civil society accomplished within a definite time associations, corporate foundations, period. educational institutions, small In pursuing the objectives, your enterprises, or research institutions approach may adopt certain perspective. among others. Investment perspective Government- Owned and- Pertains to deriving an expected Controlled Corporations economic return An organization may combined Ethical perspective nature. Pertains to examining whether a desired object is morally right or wrong. MANAGEMENT THEOIRES AND THE Informational roles FUNCTIONS, ROLES AND SKILLS OF A A manager also serves the role of MANAGER a monitor Management Theories Decisional roles The Classical Management A manager is an entrepreneur approach who develops new opportunities Developed approximately during for the business 1900- 1930, look at management Skill of a manager mainly from a “rational” Technical Skills perspective that assumes there is This pertains to abilities or “one best way” to do things expertise to do the job required. The Behavioral management Human skills approach This pertains to interpersonal Ushered in the “human relation” skills or the ability to work well view to management with other people. approximately during 1930-1950. Conceptual Skill Aims to satisfy social relations This pertains to the ability to and personal fulfillment to think critically and analytically motivate employees THE FIRM AND ITS ENVIRONMENT Then Modern Management Forces in the Firms Environment Approach. Political Forces Involves several views and Pertain to legal regulations, techniques political orientations. Six Sigma Economic Forces Pertain to economic conditions relevant to the business Sociocultural Forces Pertain to Social norms, customs, and values. Technological Forces FUNCTIONS OF A MANAGER Recent advancement in Manager technology Is the one who is mainly responsible Natural Risk and accountable for accomplishing the In the light of adverse impacts of specific goal. climate change and global First- level supersvisors warming The first-level managers manage the work of members Middle managers Manage the work of the supervisors or other members of the organization. Top managers The managers at the top level of organization manage the middle managers. Roles of a Manager Interpersonal roles A manager, as figurehead is a role model for the members of the organization. THE LOCAL AND INTERNATIONAL the more intense the competition BUSINESS ENVIRONMENT OF THE FIRM will become. Competitive Advantage Suppliers or producers. Pertains to distinguishing Power of bargaining power of features suppliers or producers Environmental uncertainty Buyers or consumers. Pertains to lack of complete The bargaining of power or information consumers Environment complexity Potential entrants Is the presence of numerous This focuses on the threat of new factors entrants Local business environment Substitutes Pertains to the specific industry This focuses on the threat of International business substitute product or services environment UNDERSTANDING THE INTERNATIONAL Pertains to the business activities ENVIRONMENT THROUGH GLOBAL Industry MANAGEMENT Is a group of companies offering Global management the same or similar products or Management of business and services. organizations PORTER’S FIVE FORCES MODEL Global business (COMPETITIVE FORCES) Pertains to a business Industry competitors rivalry environment that poses existing among firms. challenges in adaptations The greater the number of rival companies existing in the area,