Understanding Business, Tenth Edition, Nickels/McHugh/McHugh

Chapter 7- Management and Leadership

1. What does management look like today?

Management differs today than it did in the past. In the past, managers were considered “bosses” and their job mostly consisted of giving employees orders, monitoring performance and reprimanding unproductive behavior and misconduct. Many managers still manage employees in such fashion; however, some managers now tend to be more proactive and have changed managerial functions for the betterment of company operations and performance to accomplish organizational goals. Effective management for company success now entails guiding, training, supporting, motivating and coaching employees verses just demanding what work should be accomplished. Budding managers that are entering management positions today are much different than those who entered in the past. Management potentials now are more educated, qualified, skillful, adaptable, cultured and creative.

2. What are the primary functions of management?

Management is the process used to accomplish organizational goals through planning, organizing, leading and controlling people and other organizational resources.

(1) Planning- anticipating trends and determining the best strategies and tactics
(2) Organizing- designing the structure of the organization and creating conditions and systems in which everyone and everything work together
(3) Leading- creating a vision for the organization and communicating, guiding, training, coaching and motivating other to achieve goals and objectives in a timely manner
(4) Controlling- establishes clear standards to determine whether an organization is progressing toward its goals and objectives, rewarding people for doing a good job and taking corrective action if necessary

3. What is SWOT