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McGraw-Hill © 2004 The McGraw-Hill Companies, Inc. All rights reserved.
Chapter 1
Management and Its Evolution
McGraw-Hill © 2004 The McGraw-Hill Companies, Inc. All rights reserved.
Learning Objectives
After reading this chapter, you should be able to:
⌘Understand the roles played by individuals, teams, and managers in carrying out company activities.
⌘Practice the four major functions of management
⌘Recognize the interpersonal, informational, and decisional roles played by top level managers.
⌘Apply the general skills needed to carry out managerial responsibilities.
⌘Integrate the major elements from the various perspectives of management theory.
McGraw-Hill © 2004 The McGraw-Hill Companies, Inc. All rights reserved.
The performance of organizations depends to a large extent on how their resources are allocated and their ability to adapt to changing conditions.
Successful organizations know how to manage people and resources efficiently to accomplish organizational goals and to keep those goals in tune with changes in the external environment.
McGraw-Hill © 2004 The McGraw-Hill Companies, Inc. All rights reserved.
Management in the New Millennium
⌘A firm can be efficient by making the best use of people, money, physical plant, and technology.
⌘It is ineffective if its goals do not provide a sustained competitive advantage.
⌘A firm with excellent goals would fail if it hired the wrong people, lost key contributors, relied on outdated technology, and made poor investment decisions.
McGraw-Hill © 2004 The McGraw-Hill Companies, Inc. All rights reserved.
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