Name
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Business Management (Book on Computer Desktop)
Chapter 1 “Introduction to Management”
DEFINE THE FOLLOWING TERMS:
Section 1:
Management-
LEVELS OF MANAGEMENT (Management Pyramid):
Senior (Executive) Management Duties:
Middle Management Duties:
Supervisory (Operational) Management Duties:
THE MANAGEMENT PROCESS- 5 MANAGEMENT TASKS:
1. Planning-
2. Organizing-
3. Staffing-
4. Leading-
5. Controlling-
MANAGEMENT ROLES:
Role-
1. Interpersonal –
2. Information-Related –
3. Decision Making –
MANAGEMENT SKILLS:
1. Conceptual Skills-
2. Human Relations Skills-
3. Technical Skills-
Principle-
Glass ceiling-
Section 2 - Entrepreneurship:
Professional Manager-
Entrepreneur-
Small Business-
SECTION 1.1 ASSESSMENT (PG. 20)
Fact and Idea Review
1. How have changes in modern business created challenges for managers?
2. Which role does a manager fill when resolving a dispute? Holding a staff meeting?
3. Can a management principle be proven just like a scientific principle? Explain
SECTION 1.2 ASSESSMENT (PG. 27)
Fact and Idea Review
1. Being an entrepreneur is easier than being a professional manager- true or false?
Explain.
2. Describe 2 things companies can do to encourage their managers to think more like
entrepreneurs.
Why are entrepreneurs important to the economy?
What would happen if no one wanted to be an entrepreneur?
Business Management
Chapter 1 “Introduction to Management”
Unit 1- Management Today-
Case Studies
1. E-Commerce: Is it Practical for an Entrepreneur?
SCENARIO
Lindsay owns and runs a home-based basket service. She and her part-time assistant create
and deliver custom baskets for special occasions. Many baskets feature local foods and
flowers. Store openings, office parties, bridal and baby showers, wedding anniversaries, and
hostess gifts account for most of her business. Lindsay takes great pride in her ability to talk
with customers and design baskets around their color schemes.
Now she’s wondering if she could increase her profits by putting her business online.
CRITICAL THINKING
As an entrepreneur, what are some of the factors Lindsay should consider as she makes her
decision? How does her risk differ from that of a manager in a large corporation? Why?
2. Performance Review
SCENARIO
A regional business chain just bought the local supermarket that Shawn manages. Last week
he received a memo from national headquarters announcing that for the next six months all
stores must raise sales by a minimum of five percent. Shawn has been told that his annual
performance review will be tied to his store’s performance.
CRITICAL THINKING
What are some of the strategies Shawn can use to increase sales? How can he help keep
employees’ morale and productivity high as they adjust to the new management system?
3. Corporate Culture
SCENARIO
Imagine that you’ll be working for a corporation one day. Start to identify the corporate culture
in a particular company and judge where—or if—you might fit in.
CRITICAL THINKING
What strategies can you use to find out about the corporate culture?
Can you match your positive strengths with what the company seems to want and value?
4. The Continuum of Time and Education
Before you answer the critical thinking questions, briefly examine the two tables below.
Think about how education has influenced business. Percent of Americans with high school
diplomas
1900 1998
6.3 % 82.8 %
Percent of Americans aged 25 and older with diplomas in 1998
High school diploma College diploma
82.8 %
24.4 %
CRITICAL THINKING
Part One Describe the changing needs of business—from the Industrial Age to the Internet
Age. Show how the various management studies and theories discussed in this unit reflect
this ongoing change, which affects all aspects of business.
Part Two Imagine you are a manager and it’s your job to stay ahead of the competition.
Can you suggest any ongoing or future changes you see in the economy that could lead to
changes in management style?
5. The Spreading of a Virus
SCENERIO
Some businesses save money by adopting the management concept of the inventory control:
just-in-time (JIT). This has been successful in reducing the amount of parts and raw materials
a business needs to stock. Under JIT the factory estimates what is needed to produce a
designated quantity of finished goods and keeps only that amount on hand.
CRITICAL THINKING
Computer viruses are always threatening the business world. Consider what would happen if
a company’s digitized JIT inventory was corrupted by a virus. What might be the effects of a
virus?
SHOW ME THE MONEY
INTERNET RESEARCH
GO TO http://www.entrepreneur.com/youngmillionaires
DO RESEARCH ON TWO OF THE MILLIONAIRES.
MILLIONAIRE #1
EXPLAIN THEIR IDEA-
WHY ARE THEY SO SUCCESSFUL (WHAT IS THE KEY)?
MILLIONAIRE #2
EXPLAIN THEIRE IDEA-
WHY ARE THEY SO SUCCESSFUL (WHAT IS THE KEY)?
SHOW ME THE MONEY
INTERNET RESEARCH
GO TO http://www.entrepreneur.com/article/170426
RESEARCH 2 HOT IDEAS or PRODUCTS FROM THIS SITE
IDEA or PRODUCT #1
WHAT IS THE IDEA OR PRODUCT?
WHY ARE THEY SUCCESSFUL?
WHY IS THIS DIFFERENT THAT OTHER PRODUCTS OR IDEAS?
(what separates them from the competition)
HOW COULD THEY BE MORE SUCCESSFUL (YOUR SUGGESTION)?
IDEA or PRODUCT #2
WHAT IS THE IDEA OR PRODUCT?
WHY ARE THEY SUCCESSFUL?
WHY IS THIS DIFFERENT THAT OTHER PRODUCTS OR IDEAS?
(what separates them from the competition)
HOW COULD THEY BE MORE SUCCESSFUL (YOUR SUGGESTION)?