Chapter Preview
This chapter explores the relationship between the four management functions. It also provides insight into types of planning and planning processes, managerial skills, environmental analyses, organizing, leadership styles, motivation theories, corporate culture, and controlling functions.
Learning Objectives
After reading this chapter, you should be able to do the following:
- Explain how the four functions of management interrelate.
- Examine the planning process in management, including the roles of different management levels in decision-making.
- Express the significance of different managerial skills necessary for various levels of management.
- List the four types of managerial planning and provide an example of each.
- Describe three environmental analyses (SWOT, PEST, Competitor).
- Summarize the process of organizing within a management context, including the concepts of organizational structure, division of labour, departmentalization, and delegation.
- Review each of the four leadership styles.
- Recognize the importance of motivation and the basics of major theories of motivation: The Hierarchy of Needs theory, the Two-Factor theory, the Expectancy theory, and the Equity theory.
- Illustrate the process and importance of the controlling function in management, including setting and measuring performance standards and taking corrective actions.
