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7.00 Understanding marketing and business management

7.00 Understanding marketing and business management. 7.03 Understand the leadership and management. Management. Management is the process of accomplishing the goals of an organization through the effective use of people and other resources. 5 Functions of Management. Planning Organizing

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7.00 Understanding marketing and business management

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  1. 7.00 Understanding marketing and business management 7.03 Understand the leadership and management.

  2. Management • Management is the process of accomplishing the goals of an organization through the effective use of people and other resources.

  3. 5 Functions of Management • Planning • Organizing • Staffing • Directing • Controlling

  4. Planning • The planning function involves… • Analyzing information • Setting goals • Making decisions to accomplish the goals

  5. Organizing • The organizing function involves… • Identifying the work & resources needed to achieve the goals of the business that have been set in the planning stage.

  6. Staffing • The staffing function includes the activities involved in… • Obtaining the employees • Training the employees • Compensating the employees

  7. Directing • The implementing function involves directing and leading people in order to accomplish the goals set out in the planning stage.

  8. Controlling • The controlling function is used to determine whether a business is accomplishing its goals that were set in the planning stage.

  9. Levels of Management • Top Management • Mid-management • Supervisors (First Line)

  10. Top Management • Executives are top-level managers • Responsible for the direction and the success of the business (controlling) • Set long-term goals (planning) • Held accountable for profitability & success • Examples: • CEO (Chief Executive Officer) • President

  11. Mid-Management • Mid-managers are specialists • Responsible for specific parts of the business • Devoted to the organizing, staffing, and implementing functions • Examples • Marketing Manager • Information Technology Manager • Customer Service Manager

  12. Supervisors (First Line) • First level of management • Responsible for the routine work of a group of employees • Evaluate the work of the employees • Implement the plans set forth by executives and mid-managers

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