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Nature of Management Sim

In: Business and Management

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m a n a g e m e n t 2e
Hitt/Black/Porter

Chapter 1: The Nature of Management

© 2008 Prentice-Hall Business Publishing

Learning Objectives
After studying this chapter, you should be able to: ■Define the term management ■Explain the major challenges with which managers must deal ■Describe how historical research on management has contributed to the current practice of management ■Identify and discuss the primary managerial functions

© 2008 Prentice-Hall Business Publishing

Learning Objectives
Explain the three general roles involved in managerial work and the specific roles within each ■Explore and describe the three dimensions of managerial jobs ■Discuss the primary skills required to be an effective manager


© 2008 Prentice-Hall Business Publishing

What is Management?

Management is a process that involves: ■Assembling and using sets of resources ■Acting in a goal-directed manner to accomplish tasks ■Activities carried out in an organizational setting

© 2008 Prentice-Hall Business Publishing

Managerial Challenges

Managing Change

Managing Entrepreneu rially

Managerial Challenges

Managing Resources

Managing Strategically

© 2008 Prentice-Hall Business Publishing

Managerial Challenges: Managing Change

Managing change: ■Is the most persistent, pervasive and powerful challenge for managers ■Requires managers to gain employee acceptance Two causes of change: ■Technology ■Globalization

© 2008 Prentice-Hall Business Publishing

Managerial Challenges: Managing Resources

Managers must manage resources, including: ■Financial capital ■Human resources ■Physical resources ■Technology

© 2008 Prentice-Hall Business Publishing

Managerial Challenges: Managing Strategically

Managers must: ■Develop strategies to achieve the organization’s goals ■Implement the strategies effectively by managing human…...

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