Managerial Decision Making

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Managerial Decision Making
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• Business 1000
• Introduction to Business

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Learning Objectives

• Define management and explain its role in the
  achievement of organizational objectives.
• Describe the major functions of management.
• Distinguish among three levels of management and
  the concerns of managers at each level.
• Specify the skills managers need in order to be
  successful.
• Summarize the systematic approach to decision
  making used by many business managers.
• Recommend a new strategy to revive a struggling
  business.

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The Nature of Management

• Management
• Effective
• Efficient
• Managers
• Decision Makers

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Management Functions
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Types of Plans
OperationalPlans
TacticalPlans
StrategicPlans
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Levels of Management
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Importance of Management Functions to Managers in
Each Level
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Areas of Management

• Financial
• Production and Operations
• Human Resources
• Marketing
• Administrative

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What are the Top Five Skills Needed by Managers?
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Personality Traits of Successful Leaders of the
Future
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Three Basic Styles of Leadership

• Democratic
• Autocratic
• Free-rein

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Leaders vs. Managers

• Personality Style
• Attitudes Towards Goals
• Relations With Others

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Steps in the Decision Making Process
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J.P. Kotters Two Basic Management Functions

• Figuring out what to do despite uncertainty,
  great diversity, and an enormous amount of
  potentially relevant information.
• Getting things done through a large and diverse
  set of people despite having little direct
  control over most of them.