Summary of chapter 1 by Saba Azam.

This chapter is an introduction about management and organizations.
Management:
Management is a process of achieving the objectives of the buisness by using its available resources effectively.
Managers:
Manager cordinates the body of an organization.He is the one who is responsible to supervise the work of his subordinates so that the organizational goals can b accomplished.There are three types of managers:
1)Top managers: People who are on the top in the level of hierarchy.They are responsible for making organization-wide decisions and establishing the goals and plans that affect the entire body of an organization.
2)Middle managers:people who are in the middle in the level of hierarchy of an oragnization.They manage the work of first-line managers.
3)First-line managers:they are the people who are in the lowest level of hierarchy in an organizaton and they manage the work of nonmanagerial employees.
The main functions of managers are:
1) Planning: setting clear objectives.
2) Organizing:dividing the work into smaller tasks and delegation to others.
3) Leading: working with and through people.
4) Controlling: evaluating whether things are going as planned.
5)Budgeting: preparing a detailed financial plan for the next trading year.
Roles:
There are different roles for a manager to perform such as interpersonal roles, informational roles and decision roles.Interpersonal roles those that involve people and duties that are symbolic in nature.Informational roles are those that involve collecting,receiving, and disseminating information.Decision roles are managerial roles that revolve around making choices.
Skills:
A manager should have several skills such as techinacal skills, human skills and conceptional skills.Importance of these skills varies depending on managerial level.
Manager's jobs are changing:
Today, in world the job's of managers are changing.The reasons why the job's of managers are changing is because of the changing technology, increased security threats , increases emphasis on ethics, increased competitiveness.the imporatance of customets to the manager's job.It has been proofed that customers’ satisfaction is highly influenced by the attitude of the employees.Innovation is one of the most imporatant factor in changing the jobs of mangers.A good manager need to emphsize his subordinates to come with new ideas and inovations.
Oraganization:
Organization means to control any business through a specific systematic approach.All the businesses have some kind of structure or hierarchies.A delibrate arrangement of people to accomplish some specific purpose is an organization.Organizations are chaniging everydat because the world around them is changing.
Studying management:
It is impotant to study management because of several reason such as universality of management, this means it is a universal need for management.Another reason is Reality of work which means either manage or be managed.